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Article: Insurance: Credit Life, Accidental Death Products Under Fire.
- Article from:
- American Banker
- Article date:
- January 19, 1999
CopyrightCOPYRIGHT 1999 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By MICHAEL O'D. MOORE As banks assume a higher profile in the insurance business, they are beginning to come under fire from consumer advocates and the media for marketing particular policies.
Of particular concern are two narrowly focused insurance products-credit life insurance, a mainstay of banks, and accidental death and dismemberment, a newer product for most.
Critics contend these policies are of dubious value.
A recent story in The Washington Post, titled "Insurance Pitches Worth Being Tossed into the Junk Pile," took banks to task for offering these products.
James Hunt, a consultant for the Consumer Federation of America who ...