The Money Mustache Community
Learning, Sharing, and Teaching => Reader Recommendations => Topic started by: silentfaith on June 10, 2019, 08:23:19 AM
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That car rental insurance post got me thinking about benefits of a credit card and wonder if there are credit cards or banking programs that include life insurance?
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Last I needed it, term life insurance was dirt cheap, especially if you're young. If you're at all worried, just buy a cheap policy and keep it in force until you don't need it any more.
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I'm 70 and life insurance is super expensive and looking for whatever is out there that's not so much.
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Why do you feel you need life insurance now?
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Yes, of course. There are four major types of credit insurance: life, disability, involuntary unemployment, and property. Credit companies offer it under a variety of names. You just need to contact your credit company and ask about their offers.
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Some credit unions offer free coverage. It is minimal but you could possibly get a few of them (for free). You can increase them but I am unsure if the rates are competitive. Pentagon Federal and Alliant both offer this. Hope this helps.
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Why do you feel you need life insurance now?
This ^.
People normally need insurance in case they pass prematurely, while their beneficiaries(spouse/children) are still dependent on their income. This is normally a concern when someone is in their 30s-50s and still have debts and dependents.