UNSPSC 64122001: Credit life insurance policy

A type of life insurance policy designed to pay off a borrower's debt if that borrower dies. The face value of a credit life insurance policy decreases proportionately with an outstanding loan amount as the loan is paid off over time until both reach zero value.

UNSPSC 64122001 Credit life insurance policy is a Commodity code. State and local governments rarely procure this product directly; instead, they solicit employee benefits brokers, third-party administrators, and insurance carriers to manage comprehensive benefit packages that may include credit life as a component within voluntary or supplemental life insurance offerings. Recent solicitations show that when credit life appears, it surfaces as part of broader ancillary benefits procurement—bundled with group term life, disability, accident, hospital indemnity, and critical illness coverage rather than as a standalone line item. The issuing bodies span city human resources departments, county boards of commissioners, regional school districts, and special-purpose districts, with repeat activity from Florida municipalities (DeBary, Holly Hill, Brevard County), Texas cities (Pflugerville, Waxahachie, Lewisville), and South Carolina counties (Greenville County). Most procurement notices emphasize fully insured or self-funded medical, dental, and vision administration as the primary scope, with life and disability as supporting products. The recent opportunities dataset contains no standalone credit life solicitations and shows no jurisdictions requesting credit life as a distinct commodity.

Geographic activity concentrates in Florida, Texas, and the Southeast, with secondary activity in the Upper Midwest and Northeast. Recent examples include the City of Holly Hill, Florida issuing RFP 26-HR-01 for broker services covering medical, dental, vision, firefighter cancer, and life insurance benefits (response date April 8, 2026); Catoosa County, Georgia soliciting RFQ 2026-21 for broker services to manage employee benefits for 430 employees (response date October 22, 2026); the City of Madison, Wisconsin requesting proposals for life and disability insurance for 3,103 active employees and 1,462 retirees (response date August 31, 2026); and Brevard County, Florida seeking a single carrier for group life, disability, and supplemental health benefits effective January 1, 2027 (response date July 28, 2026). Credit life does not appear as a named product line in any of these notices, and the code shows no substantive recent procurement activity aligned with its nominal scope.