Lease Protection

Concerned about disaster striking while leasing? Check the lease contract carefully before you sign it to see what (if any) circumstances would allow you to be released from the obligations. A lease, as with any other financial contract, generally cannot be canceled. However, some financial institutions do offer a "death cancellation clause," which simply terminates the lease. Others, including outside companies, offer insurance for the same thing.

Our advice: Accept a lease only if the monthly payments are low enough that you can handle them if life should throw you a curveball.