Credit insurance

{
  "id": "MLC-T-LAW-001394",
  "term": "Credit insurance",
  "field": "Law",
  "definition": "Insurance sold with a loan or credit sale that pays the lender, or covers the borrower's payments, when a specified event occurs. Consumer forms include credit life, credit disability and involuntary unemployment coverage, with the premium added to the loan. Trade credit insurance is a separate commercial product that reimburses a seller when a business customer fails to pay.",
  "url": "https://mlchart.com/terminology/law/credit-insurance/"
}