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Credit Card Insurance |
Life is so unstable you may never know what the morrow has in store for
you and it would be really nice to know your monthly bills will be paid
on if you become incapable to earn your living. That's why many people
try to find a proper liability insurance to get at least some
confidence in the future. If you haven't set your choice on some
particular protection plan yet, consider credit card insurance as one
of the possible options.
Credit card insurance is a kind of security designed to cover your
outstanding credit
card debt
if you fall ill, become disabled, die, get involuntarily unemployed,
have an accident or loose your card. Its average monthly fee is about
75 cents per $100. It’s not high though it may add up to a
pretty sum yearly. Consider all pros and cons of this liability
insurance to decide whether you need it or not.
So credit card insurance benefits are as follows:
- minimum monthly payment of
the credit card debt if the user is unable to work;
- free enrollment at any
time;
- voluntary cancellation;
- no account of people's age,
health, status, wealth, gender;
- state-regulated rates;
Credit card insurance disadvantages are:
- limited payment period
– credit card insurance companies will usually pay off on
your bills for no more than a year;
- no covering of the card
usage during the claim period;
- a set cap sum which may be
smaller then your credit card debt.
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