Credit Insurance

Business, Legal & Accounting Glossary

Definition: Credit Insurance



What is the dictionary definition of Credit Insurance?

Dictionary Definition


Insurance a lender requires a borrower to purchase to cover the loan. If the borrower dies or becomes disabled before paying off the loan, the policy will pay off the remaining balance. Federal and state consumer protection laws require the lender to disclose to existing and potential borrowers the terms and costs of obtaining credit insurance because it can affect the terms of the loan.


Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/credit-insurance/
Modern Language Association (MLA):
Credit Insurance. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. October 19, 2020 https://payrollheaven.com/define/credit-insurance/.
Chicago Manual of Style (CMS):
Credit Insurance. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/credit-insurance/ (accessed: October 19, 2020).
American Psychological Association (APA):
Credit Insurance. PayrollHeaven.com. Retrieved October 19, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/credit-insurance/

Definition Sources


Definitions for Credit Insurance are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 22nd April, 2020 | 0 Views.