What does Credit Life Insurance mean? Read on to discover the definition & meaning of the term Credit Life Insurance - to help you better understand the language used in insurance policies.
Credit Life Insurance
Usually a term life-insurance policy on the life of a borrower, and a lender as the beneficiary. It pays the lender a specified amount if the borrower dies before full repayment of the loan.
We hope the you have a better understanding of the meaning of Credit Life Insurance.