Common use of CREDIT LIFE AND/OR DISABILITY INSURANCE Clause in Contracts

CREDIT LIFE AND/OR DISABILITY INSURANCE. The purchase of this insurance is entirely voluntary and is not a factor in the approval of the extension of credit. If credit life and/or disability insurance is available to me on the Account, and I request it by completing the Credit Insurance Application/Schedule which contains current rates and qualifying information, the premium will be calculated monthly by multiplying the premium rate by the outstanding balance on the Account. You will add the premium amount to my Account Balance on each Billing Cycle Close Date. I acknowledge receiving a copy of the Credit Insurance Application/Schedule. PREPAYMENT OR IRREGULAR PAYMENTS: Though I need only pay the Minimum Monthly Payment, I understand that I have the right to repay my Account Balance at any time without penalty. I also understand and agree that I will only be charged periodic INTEREST CHARGES to the date I repay my entire Account Balance. I may make larger payments without penalty and this may reduce the total amount of periodic INTEREST CHARGES that I will repay. If I pay more than the Minimum Monthly Payment in any month and there is still a balance due, I must continue to make Minimum Payments in future months. Any partial payment of my Account Balance will not advance my next payment due date(s). I understand and agree that any payment that: (a) delays or (b) accelerates the repayment of my Account Balance will: (a) increase or (b) decrease my Monthly Periodic INTEREST CHARGE.

CREDIT LIFE AND/OR DISABILITY INSURANCE. The purchase of this insurance is entirely voluntary and is not a factor in the approval of the extension of credit. If credit life and/or disability insurance is available to me on the Account, and I request it by completing the Credit Insurance Application/Schedule which contains current rates and qualifying information, the premium will be calculated monthly by multiplying the premium rate by the outstanding balance on the Account. You will add the premium amount to my Account Balance on each Billing Cycle Close Date. I acknowledge receiving a copy of the Credit Insurance Application/Schedule. PREPAYMENT OR IRREGULAR PAYMENTS: Though I need only pay the Minimum Monthly Payment, I understand that I have the right to repay my Account Balance at any time without penalty. I also understand and agree that I will only be charged periodic INTEREST CHARGES to the date I repay my entire Account Balance. I may make larger payments without penalty and this may reduce the total amount of periodic INTEREST CHARGES that I will repay. If I pay more than the Minimum Monthly Payment in any month and there is still a balance due, I must continue to make Minimum Monthly Payments in future months. Any partial payment of my Account Balance will not advance my next payment due date(s). I understand and agree that any payment that: (a) delays or (b) accelerates the repayment of my Account Balance will: (a) increase or (b) decrease my Monthly Periodic INTEREST CHARGE.