37877164__Predatory_Lending__June__2006__DEFINITION_OF_CHARACTERISTIC
[CHARACTERISTIC] Single-Premium Credit Insurance [DEFINITION OF CHARACTERISTIC] 
Credit insurance is a loan product that repays the lender should the borrower die or become disabled. In the case of single-premium credit insurance, the borrower pays the total premium upfront rather than on a monthly basis because it is added to the amount financed in the loan. The process of adding the full premium to the amount of the loan unnecessarily raises the amount of interest borrowers pay. Therefore, single-premium credit insurance is generally considered inherently abusive.
FDIC OIG: Challenges and FDIC Efforts Related to Predatory Lending, June, 2006
DEFINITION OF CHARACTERISTIC