Asset Protection

Credit Life Insurance endorses the philosophy that “no debt should outlive the debtor”

Life can be fragile and unexpected events can cause death to a family member. It happens every day. In a situation where someone’s untimely death occurs and a vehicle loan is still applicable, under normal circumstances, the debt transfers to the estate of the deceased. Past experiences have proven that this situation can be very difficult and costly for the estate to handle. Asset Protection Insurance pays the vehicle loan off in its entirety and transfers a clear title to the estate. This asset can be very valuable to the estate and remaining family members in this very trying time. Insurance is the worst thing in the world to have until you need it. When you need it, it is incredibly valuable and your family can’t live without it.

Below is a list of benefits of Asset Protection Insurance:

  • Your family inherits an asset, not a liability
  • You protect your family’s credit rating following the loss of your income
  • You protect your family’s standard of living after your death
  • The co-signer is relieved of the obligation
  • The creditor is paid directly
  • A single premium means no annual increase in rates
  • Benefits are not taxable
  • You protect your other assets from being used to satisfy this obligation