How much do you want $15?
I got mailed a check by Citibank. You know, a screw-you check. If I deposit it, I get $15, and get enrolled in Super Bogus Account Insurance.
If you lose your job, you don't have to make payments. Uh, unless you lost your job due to becoming disabled through sickness, illness, disease, accident, injury, or pregnancy. All it does is shut off the finance charges, though.
If you die, they'll cancel your outstanding balance, up to $10,000. It's only $0.85 per hundred bucks, which is $85 a month to insure an outstanding balance of $10,000. $250,000 of term life insurance coverage costs me a couple hundred a year or so, if I remember correctly.
In other words, they're selling life insurance that's 25 times as expensive and doesn't actually offer a cash payout. Nice work if you can get it.
If you lose your job, you don't have to make payments. Uh, unless you lost your job due to becoming disabled through sickness, illness, disease, accident, injury, or pregnancy. All it does is shut off the finance charges, though.
If you die, they'll cancel your outstanding balance, up to $10,000. It's only $0.85 per hundred bucks, which is $85 a month to insure an outstanding balance of $10,000. $250,000 of term life insurance coverage costs me a couple hundred a year or so, if I remember correctly.
In other words, they're selling life insurance that's 25 times as expensive and doesn't actually offer a cash payout. Nice work if you can get it.
posted by Todd D. at 8:53 PM
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