Now that you're back from Kaboom, Afghanistan, you might want to take another look.
@stpn2me wrote:I always get it because I am an insurance freak as well! Reason being, my mom had a stroke about 4 yrs ago. She is alright now, but now she is on disability. While she was in a coma, her insurance that she had on her credit cards and loans paid her payments while she was in the hospital. One loan is actually paying one of her loans off. It is just peace of mind in my case! Plus with me being in the military, I dont exactly have a safe job!
Stpn2me
To me, it seems like one of the worries that CC insurance seems to soothe is that you won't have to worry about someone making the payments for you if you are unable to. Not so much a question of not having the money, as not having someone to hit the "send" button. If that's the issue, setting up some sort of automatic payment might cover that --set for minimum plus $20, or whatever, depending on how flexible the site is.
Unless the credit insurance is issued from NFCU or some similar org that caters to Active Duty- "Combat Death" usually is NOT covered.
Now SGLI- is some of the most inexpensive life insurance you can get.
Now SGLI- is some of the most inexpensive life insurance you can get.
@haulingthescoreup wrote:Now that you're back from Kaboom, Afghanistan, you might want to take another look.
@stpn2me wrote:I always get it because I am an insurance freak as well! Reason being, my mom had a stroke about 4 yrs ago. She is alright now, but now she is on disability. While she was in a coma, her insurance that she had on her credit cards and loans paid her payments while she was in the hospital. One loan is actually paying one of her loans off. It is just peace of mind in my case! Plus with me being in the military, I dont exactly have a safe job!
Stpn2me
To me, it seems like one of the worries that CC insurance seems to soothe is that you won't have to worry about someone making the payments for you if you are unable to. Not so much a question of not having the money, as not having someone to hit the "send" button. If that's the issue, setting up some sort of automatic payment might cover that --set for minimum plus $20, or whatever, depending on how flexible the site is.
I had it on my Orchard bank card ....
I got it because someone told me that the cc would give higher limit if you got it .....
I had it for years.
I did not even use it when I was unemployed. Just didn't even think about it. I just paid the minimum because I could at least do that. - should have used it.
Then, I stated trying to get out of debt and I kept making big payments on that card but they did not seem to be doing anything. It was because the interest rate was so high and then the insurance amount that they added that only $1 or $2 was going to the principal.
So I called and asked them to take it off. She asked why and I told her that I was trying to pay off my debt. She said that when I pay down the cc card the payments on the insurance would go down. I told her that I could not even pay the card down because 1/2 my payment was going to the insurance which was preventing me from paying it down if the 1st place.
Then she used the scare tactic. What if you lose your job tomorrow? So, I said then I would call you and add it to the account since I could add at any time and i pay the 30 or 60 days of the insurance and then I would get a job at a temp agency and when they laid me off from the temp agency I would call in to make my insurance claim.
I think she was very upset when I said that. I am sure they will be changing the unemployment requirements now.
