Credit Insurance

For consumer goods (including cars)

You sign up for when you purchase the item. Ask the salesperson for the appliance, car, furniture, etc. Since no health questions are asked, there is no reason to disclose your health history.

For credit cards

• Credit insurance is generally available when you apply for a new card.
• Many credit card companies allow you to add these protections at any time by calling the phone number listed on your monthly statement or on the company's web site. Others only allow these protections when you open a new account, or if you are invited by the company to enroll in the protections.
• If you don't have credit life insurance, it's worth calling to ask if it's available. Use the phone number listed on your bill. Have your account number handy when you call -- as well as your Social Security number in case you're asked. It's okay to give your Social Security number in this instance because you're starting the call, and you're calling a number you know belongs to the insurance carrier or an affiliate.
• Don't be surprised if you call the credit card company and ask if you can add credit life insurance and are told that the company doesn't offer it. On the other hand, if you ask about "bundled protections" or "credit insurance" you'll usually find one of the protections included in the bundle is credit life insurance. Instead of stating plainly that the bundle includes credit life insurance, the text may say something like "in the event of death, up to $25,000 is cancelled."

As always, read the fine print. If the full package includes items you do not want or need, ask if there is a less expensive package that includes less coverage.

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