You may be paying back more on your loan than you need to
IT’S essentially a good thing to have – it’s there to protect you if something happens and you can no longer pay your loan instalments.
But in the past credit life insurance has had a bad rap because of inflated premiums or because consumers weren’t aware they were paying for it. Things have changed over the past two years and now there are limits on premiums. But some people still don’t realise they could be paying smaller premiums – or that they’re paying for it at all.