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LlbrarvFDICi EDITOR: Josie DowneyDEC 2 3 1981The Bank Customer\'s PublicationOctober 1981 Volume I No. 8Not All Borrowers Need Credit Life Insurance Credit life, accident and health insurance are
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Credit life insurance is a type of insurance policy that pays off a borrower's debt if they pass away before the debt is settled.
Lenders who offer credit life insurance policies are typically required to file documentation with the appropriate regulatory bodies.
To fill out credit life insurance forms, you must provide personal information, details about the loan, and beneficiary information, along with any required signatures.
The purpose of credit life insurance is to provide financial protection for borrowers and their families by ensuring that debts are paid off in the event of the borrower's death.
Information reported generally includes the policyholder's details, the amount of insurance, the loan amount, and claims made under the policy.
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