Creditor insurance pays off your debts if you die or become disabled. It applies to vehicle loans, furniture, home renovation and credit card debt.
Car dealerships sell credit insurance to customers financing a vehicle. You do not have to buy it through them! I offer the same types of insurance. It is better to go through an independent broker like me so you can own the policy. This means that you can carry it over: one car to the next. You get more choice and can name your own beneficiary and get all the benefits that come with that. Ask us for a cost comparison before financing a vehicle!