Is credit card protection insurance really necessary?
Wednesday, June 16th, 2010 at
3:29 pm
I’m talking about the insurance you pay extra for on your credit cards so they would supposedly be paid off for you in the event of your death. I have a friend whose 75 yr. old mother is dying very soon of terminal cancer. I’m wondering if he just sent in the death certificate to the credit company, would this be enough to get them off his back. She has no other family except for his son, and he can’t afford to pay her left over bills. His name’s not on her credit card accounts.
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It is not worth it. Once she dies, she’s gone. Since he is nowhere listed on the account, he has nothing to worry about. It is her credit rating that will be impacted, but she will be in a much better place where credit is no longer necessary.
I don’t believe the insurance is necessary. Yes, send the death certificate. If the mother has no assets, there is nothing for the credit card company to get.