Credit Card Insurance, worth it?

I believe almost every credit card users had been offered a new type of insurance - credit card insurance.

What is credit card insurance?

• it insured you of the outstanding amount owed in your credit card
  
• it covers death and disablement of credit card holders
  
• it charges card holders an insurance premium annually normally
  

And, in my case, it offers me a better plan which only charge me if there is any outstanding credit card loan. If you're a prompt paymaster, this is definitely the better option for you. If you agreed on the deal, all you need is to answer 'YES' through the phone. Then, they will issue a contract notes and mail to your home address.

Ya... Pretty easy and convenient though.
But, is it worth to have such insurance?

Finance Malaysia opine that it is not worth, and its a waste of money because of the following points:-

• Credit card supposed is for our ease of making purchases, especially for those 0% installment deals.
• Those who opts credit card loans would have been due to financial constrain.
• By charging extra premium on top of the loan amount will UP the outstanding loan amount, thus, the monthly repayment.