You are here: Home Finances Credit: Score, ... Credit Disability ...
Information about all aspects of finances affected by a serious health condition. Includes income sources such as work, investments, and private and government disability programs, and expenses such as medical bills, and how to deal with financial problems.
Information about all aspects of health care from choosing a doctor and treatment, staying safe in a hospital, to end of life care. Includes how to obtain, choose and maximize health insurance policies.
Answers to your practical questions such as how to travel safely despite your health condition, how to avoid getting infected by a pet, and what to say or not say to an insurance company.

Credit Disability Insurance


Credit disability insurance is similar to credit life insurance except that the covered event is disability. 

Credit disability insurance helps with respect to credit card debt if you become disabled.

Credit disability insurance helps to maintain your credit rating which can be important in a time of crisis.

Plans vary with respect to the benefit provided:

  • Some plans put a freeze on all card payments, interest and fees.
  • Some plans pay the minimum amount due each month. In this case, while you may not have to make payments, interest on the balance will continue to grow.

Additional features:

  • There may be a limit on the amount of time the plan will cover -- such as one or two years.
  • There may be a waiting period before the plan starts to cover.
  • With some plans, you cannot make additional purchases on the credit card while the freeze is in place. With others you can.

Credit disability insurance is generally obtained directly from the creditor. As with credit life insurance, credit disability insurance is likely to be included in the "bundled protections" often available with credit cards.

Please share how this information is useful to you. 0 Comments


Post a Comment Have something to add to this topic? Contact Us.

Characters remaining:

  • Allowed markup: <a> <i> <b> <em> <u> <s> <strong> <code> <pre> <p>
    All other tags will be stripped.