Have you heard of credit card insurance? It’s a type of insurance that protects the cardholder in the event that he or she cannot make payments. As with all kinds of insurance, the answer to whether or not you need credit card insurance depends on you and your particular financial needs.
Insurance expert Linda Rey shares some points to consider if you're wondering whether credit card insurance could be right for you. Basically, credit card insurance could protect you in the event you lose your job and can't pay your bills, you become disabled, you die, or property purchased with your card is destroyed.
Linda breaks down the math to help consumers decide whether credit card insurance is right for them, and explains how some customers may already be covered. If you want to learn more about credit card insurance and whether or not it's worth purchasing, read Linda's full blog at http://insurance.equifax.com/2010/12/need-credit-card-insurance-you-might.html.
Ilyce Glink is the author of several books, including 100 Questions Every First-Time Home Buyer Should Ask and Buy, Close, Move In!. She blogs about money and real estate at ThinkGlink.com, The Equifax Personal Finance Blog and CBS Moneywatch She is Chief Content Strategist at RealtyJoin.com, a community for real estate investor