Free Insurance

I've had the opportunity to call and activate a fair number of credit cards. I've been issued new cards due to the old one expiring, banks identifying a set of potentially compromised numbers so it reissues a whole batch, the time I misplaced my wallet (while on a trip in the US, no less...) and had to get everything reissued (only to have my wallet reappear a couple weeks later), and my least favourite, banks canceling a line of cards.

In recent years, whenever I've activated a credit card everyone seems to be pushing a “Payment Protector” insurance plan, where, for a small premium, if injury or death prevents you from being able to pay your bill, they have you covered. I do not need such insurance. To be blunt, I think buying something on a credit card that you could not afford to pay for in cash at that moment is just plain stupid, aside from unavoidable and unplanned emergencies. I have no sympathy whatsoever for all these people who rack up credit card debt because of their own unwise spending habits. I personally would never be in a position where if I couldn't work due to an injury I wouldn't have the money to pay off my bill. I actually only use a credit card for the convenience and the provided rewards, not because I can buy whatever I want now and worry about paying for it later.