In these hard times many of us will be finding it hard to keep up with bond and other credit agreement installments.
Both employees and their employers should be aware of a possible lifeline here in the form of “credit life insurance” which, despite its name, is not just “life” cover. Employees may well find that they are also covered for inability to pay installments following loss of employment or reduction/loss of earnings. It’s an alternative to a bank-offered “payment holiday” – which is of course much better than nothing, but still no free lunch.
Many employees won’t even be aware that they have this insurance. Are you covered, and if so what for? Read on for more…
