From Wikipedia, the free
encyclopedia
Credit
Credit insurance repays
some or all of a loan when certain circumstances
arise to the borrower such as unemployment, disability, or death.
·
Mortgage
insurance insures the lender against default by the
borrower. Mortgage insurance is a form of credit insurance, although the name
"credit insurance" more often is used to refer to policies that cover
other kinds of debt.
·
Many credit cards offer payment protection
plans which are a form of credit insurance.
·
Trade credit insurance is business insurance over
the accounts receivable of the insured. The policy pays the policy holder for
covered accounts receivable if the debtor defaults on payment.
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