17 Dec What is credit life insurance?

Lender's liability insurance is provided for by law for all fiduciary alienation contracts. It is taken out in favor of the creditor and its purpose is to pay off the debt in the event of the death or disability of the insured, respecting the percentage of coverage for each insured. The insurance is charged monthly and added to the amount of the loan installment.
The insurance charged monthly is a percentage of 0.0274 calculated on the outstanding balance.