credit caed insurance

jos1 | 15:42 Tue 17th Jun 2008 | Insurance

3 Answers

What is the advantage, if any, of credit card insurance?

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Ethel

There are different types of insurance related to credit cards.

One is a payment protection plan, so if you lose your income through redundancy or ill health, the debt continues to paid.

The other type protects you if your card is lost,stolen or otherwise abused. This is totally unnecessary as legislation is in place to protect you.

jos1

Question Author

Thanks Ethel - that's what I thought.

davidbrt

As a financial adviser, I can tell you you will be able to buy this type of cover far cheaper than the premiums offered by the credit card firm - its a big profit spinner for them.

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