5 REASONS TO KEEP CREDIT INSURANCE AVAILABLE FOR CONSUMERS

Most consumers are uninsured or underinsured. Credit insurance is a low-cost means to let consumers protect their assets by insuring that debts are covered in the event of death, disability, involuntary unemployment or property damage or loss. In fact, credit insurance may be the only insurance many consumers have and they would be uninsured if it was not available.

Consumers always have the choice to choose credit insurance or turn it down. No one should take free choice away from American consumers. The more insurance choices consumers have the better off they are.

Compared with other coverage for life and disability, credit insurance is a convenient low-cost alternative that provides just the right amount of coverage to insure consumer debt. It is generally guaranteed issue or has very few underwriting limitations, and the cost does not vary depending on age, gender, occupation or smoking habits.

The real everyday cost of credit insurance in dollars and cents is low. It gives consumers a low-cost insurance option. It gives many consumers the only insurance option they can afford.

Credit insurance has been a consumer choice for more than 80 years. It has tens of millions of loyal, steady, satisfied customers who believe in it and want legislators and regulators to preserve the credit insurance choice.