Four Types of Credit Card Insurance Canandaigua NY

There are life, disability, involuntary unemployment and property policies, says the Debt Adviser, so pick the one that suits your needs.

Local Companies

First Niagara Bank - Canandaigua Office
(800) 421-0004
659 S. Main St.
Canandaigua, NY
Bullfinch Fund, Inc./Carosa, Stanton & DePaolo Asset Management LLC
(585) 624-3150 ext. 101
3909 Rush Mendon Rd.
Mendon, NY
First Niagara Bank - Perinton Office
(800) 421-0004
46 Perinton Hill Shopping Ctr.
Fairport, NY
Schneider Insurance
(585) 398-3580
Canandaigua, NY
Allstate Insurance
(585) 396-1111
523 S Main St
Canandaigua, NY
Anderson-Vanhorne Associates Inc
(585) 394-5600
83 S Main St
Canandaigua, NY
Allstate Insurance Companies
(585) 398-2216
11 North St
Canandaigua, NY
Gadbow Kenneth J Ins Jr
(585) 396-3130
11 North St
Canandaigua, NY
Alan R Tiberio Inc
(585) 396-1111
523 S Main St
Canandaigua, NY
Allstate Insurance Companies
(585) 398-2216
11 North St
Canandaigua, NY

The Debt Adviser by Steve Bucci • Bankrate.com

Dear Debt Adviser,
What is your feeling about the necessity to purchase credit card insurance? I did not used to feel it was necessary until I lost my job last fall and have only been able to obtain part-time employment at less than half of what I was making. Could you offer some advice on questions to ask the credit company prior to authorizing the purchase of the insurance?
-- Brian

Dear Brian,
Insurance needs tend to be very specific to a person's life situation, and credit card insurance is no different. Having said that, the insurance sounds wonderful for the scenario you describe of losing a job and half your income; however, the credit card insurance might not kick in, as you would hope.

First, let's agree on what credit card insurance is and how it might or might not benefit you. Four major types of credit insurance are offered: life, disability, involuntary unemployment and property.

  • Credit life insurance will pay the amount owed on your card at the time of your death, so long as the card company is named the beneficiary of the insurance.

  • Credit disability insurance will cover the minimum payment due on your card for a specified period after a medical disability. New purchases after you become disabled are not covered.

  • Credit involuntary unemployment insurance will pay the minimum amount due on your account if you are laid off or downsized for a certain time.

Click here to read more from Bankrate.com

Featured Local Company

First Niagara Bank - Canandaigua Office

(800) 421-0004
659 S. Main St.
Canandaigua, NY


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