Credit card balance insurance is a form of insurance for your credit card that can protect you against unexpected events such as a serious injury, disability, accidental death or job loss.
Federally regulated financial institutions, such as banks or trust companies, must obtain your consent before charging you for credit card balance insurance. They cannot charge you for credit card balance insurance if you did not agree to sign up for it.
The financial institution must also provide you with certain information both before and after you provide your consent.
Credit card balance insurance is optional. You are not required to buy it to obtain a credit card.