Credit life insurance

Credit Life Insurance
A term insurance that decreases by nature. The purpose is to pay the balance due on a loan in a situation where the borrower dies before the loan is repaid.
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credit life insurance (creditor life insurance)
insurance issued to a creditor (lender) to cover the life of a debtor (borrower) for an outstanding loan.

credit life insurance
Definition 1.
A type of insurance, often bought by mortgagors, in which the amount of the policy matches the loan balance at any given time; designed so that the loan will be paid off in full in the event of death.

Credit Life Insurance:
A type of life insurance that helps repay a loan if you should die before the loan is fully repaid. This is optional coverage.
Credit Limit: ...

CREDIT LIFE INSURANCE
A life insurance policy on the life of a borrower that pays off the balance of the loan in the event the borrower dies.

credit life insurance A type of insurance, often bought by mortgagors, in which the amount of the... credit limit The maximum amount of credit that a bank or other lender will extend to a customer,...

See also: Career, Life insurance policy, Acquisitions, Compensation, Line management