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Credit Insurance: A $2 billion a year ripoff

Credit insurance is big business. From 1995 to 1997, more than $17 billion of credit insurance was sold in the United States. Credit insurance refers to a group of insurance products sold in conjunction with a loan or credit agreement. The products may be sold by credit card companies, auto dealers, finance companies, department stores, furniture stores or wherever loans are made and credit extended for the purchase of personal property.