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credit life insurance

American  

noun

  1. insurance guaranteeing payment of the unpaid portion of a loan if the debtor should die.


Example Sentences

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As part of her loan, Sutton purchased credit life insurance, credit disability insurance, automobile insurance and non-recording insurance.

From Salon May 13, 2013

In addition, the book reports: > Banks generally require customers to buy credit life insurance on their loans.

From Time Magazine Archive

Until protests from three states prompted revisions in the plan, Montgomery Ward billed charge-account customers for credit life insurance on themselves to avoid the expense of settling with the estates of deceased buyers.

From Time Magazine Archive

To cover every situation, Jarrell offered two types of credit life insurance.

From Time Magazine Archive

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