credit life, accident, and health insurance

Term insurance on lives of debtors, with the creditors of the insured debtor as beneficiary. The amount payable on death of insured debtor is an amount at least sufficient to discharge debtor's indebtedness; and in event of total permanent disability an amount is payable which is at least sufficient to meet installment payments on debtor's indebtedness as they mature during the period of disability. Superior Life Ins. Co. v. U. S., D.C.S.C., 322 F.Supp. 921, 924.
See also insurance (credit insurance)

Black's law dictionary. . 1990.

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