Mailed Offerings For FREE Life Insurance Coverage And/Or Death Benefits.

cdqueen
  |     |   78 posts since 2016

It has been my observation and experience over decades to receive such mailings after establishing an

account or other product at a bank or credit union. Without exception, I deep six them into the garbage can. Don't

need, don't want now or ever. Here's the question: where such offers are accepted and returned to the offering institution, is there an impact to one's credit score? Thank you in advance to anyone who can lend clarity or insight into this practice.



Answers
AnnO
  |     |   129 posts since 2018
It should not have any effect on your credit. The deal is the insurance company gives you a small amount of life insurance for free, so that they can try to convince you to sign up for a higher amount of coverage that costs money. If you do accept any of these offers, just make sure to keep good records of the policies so your heirs can claim them.
cdqueen
  |     |   78 posts since 2016
Thank you AnnO for confirming my assumption that they were indeed an upsell bid for expanding into other/additional financial product lines. Don't need, don't want, thanks just the same.
Ricochet
  |     |   522 posts since 2010
The benefits for allowed dismemberment are ridiculous . You would have to been tortured to claim a benefit
Ally6770
  |     |   4,294 posts since 2010
It used to be life insurance and not accidental death life insurance.
AnnO
  |     |   129 posts since 2018
Another good point, yeah, this is often "accidental death & dismemberment" insurance which can only be claimed in very limited circumstances, rather than full life insurance.


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