Definition

A strategy designed to shield your valuable assets from unexpected losses. It combines insurance and financial planning to keep your property safe.

What to consider

  • Understand the conditions under which the shield applies.
  • Review any premium costs or fees.
  • Ensure it covers the types of credit you use.

Real world scenarios

  • An individual purchased a credit shield product to cover loan payments in case of unemployment.
  • A business owner added a credit shield to protect against default during financial downturns.
  • A family used credit shield coverage to maintain their credit score during unexpected hardships.

Related terms

Insurance & Financial Protection