Disadvantages Of:
Term Life
Whole Life
Universal Life
Guaranteed Issue
Burial Insurance
Second To Die Life
Credit Life?
Children's Life
Accidental Death
Critical Illness

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"To know the road ahead, ask those coming back"

~Chinese proverb

Disadvantages of Credit Life:

  • The total cost may be very high
  • The lender gets the insurance money when you die
  • Nothing goes to your estate, while you paid the premiums
  • Ineffective if you have a large estate
  • Not practical if you are insurable
  • Much higher premiums than a regular life policy
  • The premium is usually financed on top of your loan amount
  • Usually not explained to the borrower
  • Usually a maximum term of around 4 years (your loan length)
  • Won't insure folks over 65-70 (those most likely to use it)
  • Can't comparison-shop (Have to use the creditors company)


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"One meets his destiny in the road he takes to avoid it." "

~French proverb

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Craig Casey
Independent Insurance Agent
California License #0B81661
PO Box 444
Jacumba, California 91934
1-619-766-3213

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