MU Extension MU Extension       University of Missouri    ●    Columbia    ●    Kansas City       Rolla     ●    St. Louis - Money Matters - Consumer Action


Finance Quick Answers



What is credit life insurance?

Credit life insurance pays off a specific debt or loan if you are disabled. It is often very expensive in terms of its annual cost for a similar level of coverage under a term life insurance policy. Some companies also offer credit disability insurance, which would cover debt payments when you are disabled. It, too, is often a very costly type of coverage compared with similar coverage under a regular disability policy.




Brenda Procter, M.S., Consumer and Family Economics, College of Human Environmental Sciences, University of Missouri-Columbia














If you'd like to learn more about this and other personal finance topics, the University of Missouri offers 'Personal & Family Finance,' a correspondence course, through the Center for Distance and Independent Study (800-609-3727). Information about this course is available at





Can't Find Your Question Here? Try Searching Our Quick Answer Knowledge Base

Last update: Tuesday, July 22, 2008




University of Missouri logo links to

Site Administrator: 
Copyright  ADA  Equal Opportunity

MissouriFamilies is produced by the College of Human Environmental Sciences,
Extension Division, University of Missouri-Columbia