When i called to make my car payment to Citi Bank, I was offered and accepted an insurance policy from a separate indemnity company for $20 a month. It offers:
* monthly cash benefit of $500 for up to 6 months if I become totally disabled and unable to work
*monthly cash benefit of $500 for for up to 3 months if I become involuntarily unemployed
*monthly cash benefit of $500 for up to 3 months for unpaid family leave of absence and
*pays my beneficiary a lump sum of $10,000 if death is result of an accident.
Now a little about me, i do already have enough life insurance thru another company that pays 50,000 at death. I have no children,no savings, no husband, i rent an apt, and have about 3 more years to pay on my car. Im just worried that the company i work for may close soon, that's the only reason i am considering the policy. I am still in the 30 grace period for this program and is wondering if should cancel?
I failed to mention the policy does states that the monthly cash benefit is paid directly to me. and thanks for your input so far.
* monthly cash benefit of $500 for up to 6 months if I become totally disabled and unable to work
*monthly cash benefit of $500 for for up to 3 months if I become involuntarily unemployed
*monthly cash benefit of $500 for up to 3 months for unpaid family leave of absence and
*pays my beneficiary a lump sum of $10,000 if death is result of an accident.
Now a little about me, i do already have enough life insurance thru another company that pays 50,000 at death. I have no children,no savings, no husband, i rent an apt, and have about 3 more years to pay on my car. Im just worried that the company i work for may close soon, that's the only reason i am considering the policy. I am still in the 30 grace period for this program and is wondering if should cancel?
I failed to mention the policy does states that the monthly cash benefit is paid directly to me. and thanks for your input so far.