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Group Praises Jobs Coverage.(Brief Article)
According to the Consumer Credit Insurance Association, involuntary unemployment insurance can save homeowners from foreclosure in tough times.
The insurance makes debt payments for insured individuals who lose their jobs through no fault of their own. It can be taken to assure payment of home mortgages or to cover other types of debt, such as credit cards, auto loans or installment debt.
"The experience in North Carolina, and the fact that employment is stalled in the current economy, underscores the value that IUI delivers to homeowners," said William Burfeind, executive vice president of the CCIA.
"Typically, IUI coverage to protect a home mortgage will keep house payments paid up for between ...
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