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Payment protection insurance (PPI), also known as credit insurance, credit protection insurance, or loan repayment insurance, is an insurance product that enables consumers to ensure repayment of credit if the borrower dies, becomes ill, disabled, loses a job, or faces other circumstances that may prevent them from earning income to service the debt.
In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for an initial payment, known as the premium, the insurer promises to pay for loss caused by perils covered under the policy language.
This is an accepted version of this page This is the latest accepted revision, reviewed on 28 December 2024. Equitable transfer of the risk of a loss, from one entity to another in exchange for payment "Insure" redirects here. Not to be confused with Ensure. For other uses, see Insurance (disambiguation). An advertisement for a fire insurance company Norwich Union, showing the amount of assets ...
Whether you are buying auto insurance for the first time or renewing an existing policy, one of the things you need to think about is being able to make your payments on time. Insurance companies ...
Insurance company goes insolvent: If your insurance company is declared insolvent, meaning it cannot pay its debts or rehabilitate itself, a policy lapse could also occur. Your policy will usually ...
Deciding whether to pay your car insurance monthly or in full (which usually means paying for six months or one year up front) is a personal preference, but there are some things to consider that ...
It may be defined in an insurance policy and paid by an insured person each time a medical service is accessed. It is technically a form of coinsurance, but is defined differently in health insurance where a coinsurance is a percentage payment after the deductible up to a certain limit. It must be paid before any policy benefit is payable by an ...
Policy number: This is a unique number assigned to your car insurance policy. This helps your company find your exact policy when you make changes or file a claim.