Personal Finance Buzz

Involuntary unemployment credit insurance is another type of insurance you can do without. This insurance might be offered with a credit card or auto loan and will cover your payments, usually for up to 6 or 12 months, if you were to be laid off.

Term life insurance is generally the smart kind of life insurance. Even though life insurance can be purchased as an investment, it shouldn’t be.

Term Life Insurance vs Whole Life Insurance. Term life insurance policies serve a purpose. So do whole life insurance policies. The purpose of term life insurance is to protect your family for a specific time period. If you buy the right term life insurance, it does the job beautifully well.

GAP insurance tends to be in the range of $8 – $12 per month for the life of the loan. It is also typical that GAP insurance can be canceled at any time during the life of the loan.

To get good rates on insurance you must have a good credit score. Our friend Dave Ramsey says swear off debt and let your credit score go to zero. If I do this my insurance rates will go up. Insurance companies take a look at your credit before providing you with a quote. Insurers have determined that a persons credit history tells a lot about what type of person you are.