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In credit life insurance, who is responsible for paying the policy premiums?

A. Borrower only
B. Creditor and borrower equally
C. Creditor and borrower proportionally
D. Creditor only

Sagot :

GinnyAnsweridn

Final answer:

In credit life insurance, the creditor is responsible for paying the policy premiums.


Explanation:

Creditor only is responsible for paying the policy premiums in credit life insurance. In credit life insurance, the insurance is typically taken out by the creditor to protect against the death of a debtor before the debt is fully repaid. The creditor pays the premiums to ensure they receive the benefits if the debtor passes away.


Learn more about credit life insurance here:

https://brainly.com/question/43782822


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