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LSDefine

Simple English definitions for legal terms

credit life insurance

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A quick definition of credit life insurance:

Credit life insurance is a type of insurance that pays off a borrower's debt if they die. It is usually offered with consumer installment loans. If the borrower dies before paying off the loan, the insurance company will pay the remaining balance. This type of insurance helps protect the borrower's family from having to pay off the debt if they pass away.

A more thorough explanation:

Credit life insurance is a type of life insurance that is often included in consumer installment loans. If the borrower dies before paying off the loan, the insurance will pay the remaining balance. This type of insurance is meant to protect the lender, but it can also provide peace of mind for the borrower's family.

For example, if someone takes out a car loan and dies before paying it off, the credit life insurance will pay the remaining balance on the loan. This means that the borrower's family will not be responsible for the debt.

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i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
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youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
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im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
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22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
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JumpySubsequentDolphin
22:39
@splitty Oregon!
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JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
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