Check to see if you had accidentally signed up for Balance Protection Insurance if you lost your job

If you unknowingly signed up for balance protection insurance and just lost your job, make a claim. (Many people don't know they signed up for it because it has been a very mis-sold or aggressively sold product to consumers.)

Links mentioned:

Scott Terrio's interview on BNN Bloomberg: https://www.bnnbloomberg.ca/personal-finance/video/when-a-cash-strapped-household-may-be-carrying-too-much-insurance~1534072

My Globe and Mail column from 2014: https://www.theglobeandmail.com/globe-investor/personal-finance/household-finances/do-you-need-balance-protection-insurance-for-my-credit-card/article17770524/

If you just lost your job, you should check to see if you had Balance Protection Insurance on your credit card. While it's generally a poor product as it can be difficult to make a successful claim, and it's sold aggressively and often mis-sold, if you do find you have been paying for it, you may want to make a claim so that the insurance pays your minimum monthly payment (or more) while you have no income.

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Видео Check to see if you had accidentally signed up for Balance Protection Insurance if you lost your job канала Preet Banerjee