If you're thinking about taking out a loan, take a minute to learn about credit life insurance.
Credit life insurance reduces or pays off the balance of an insured credit union loan in the event of your death. The coverage spares your family from the additional financial obligation of repaying your loan. Since credit life insurance covers a specific loan, the benefits from other life insurance plans can be used for your family's day-to-day living expenses or providing for future needs, such as a child's college education. Credit life insurance from Riverset and CUNA Mutual costs just pennies a day and can be placed on personal and auto loans.