Consumer credit insurance provides some cover if you can't meet the repayments on your credit contract or loan because you lose your job, you are sick or injured, or you die. (moneysmart.gov.au)
This can create a major headache in terms of meeting repayments on the agreed due dates. (badcreditloanservices.com)
It may seem foolish for lenders to have such faith in anyone with a poor history of meeting repayment schedules, but lenders can never be described as foolish. (badcreditloanservices.com)