Types of credit card payment protection insurance plans

There are many types of credit card payment protection insurance plans available for different consumer needs.

Credit Card Disability Insurance – In credit card disability insurance, the credit card insurance company will pay the minimum monthly payment requirement of your credit card bills for you on the basis of your disability and will continue to do so within the reasonable period that you remain disabled. Each credit card disability insurance company has their criteria on what passes as a disability for them to take on your credit card bills. It is best to check these credit card insurance companies’ list of disabilities.

Credit Unemployment Insurance – Credit unemployment insurance offers to pay the minimum monthly credit payment of credit bills in events of being involuntarily laid off from work or fired from work for a certain period of time or until the customer becomes employed again.

Credit Life Insurance – In a credit life insurance, the credit insurance company pays for the debts in case the debtor dies.