Life & Money Insurance Life Insurance What Is Credit Life Insurance? Northwestern Mutual Oct 28, 2021 Credit life insurance pays off your debt directly to the lender if you pass away. Photo credit: Georgijevic/Getty Images share Want more? Get financial tips, tools, and more with our monthly newsletter. First name* Last name* Email* Sign me up Related Articles article How Does Life Insurance Work? Learn more article Comparing Term and Whole Life Insurance Learn more article Different Types of Life Insurance Policies Learn more