What is the purpose of credit life insurance quizlet?

What is the purpose of credit life insurance quizlet?

Insurance on the life of a debtor in connection with a specific loan or credit transaction. Pays off all or some of your loan if you die during the term of your coverage.

See also  In which of the following situations would the death proceeds from a life insurance policy on the decedent's life be included in the decedent's gross estate?