Creditor Insurance

Most people have some form of creditor insurance. An example is when you purchase a vehicle and say, "yes" to the life insurance. If you have accepted a guarantee on your credit card that the payments will be cleared upon your death, you have creditor insurance.

It is likely that if you add up all the little bits of creditor insurance you might find that the total is quite significant. You could consider buying a life insurance policy to cover the debts. Usually the total life insurance policy is less expensive and does last after the debts are paid.

Talk to your agent, broker or accountant about the options available under creditor insurance.