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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.
Minimum deductibles and liability limits (required by some leasing companies) would be outlined in the loan contract. Failure to carry the required coverages may lead to the lienholder purchasing insurance and adding the cost to the monthly payments or repossession of the vehicle.
Pros and cons of paying car insurance monthly vs. in full. 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 ...
A compulsory excess is the minimum excess payment the insurer will accept on the insurance policy. Minimum excesses vary according to the personal details, driving record and the insurance company. For example, young or inexperienced drivers and types of incident can incur additional compulsory excess charges.
Minimum insurance is generally cheaper than full coverage, which typically includes collision and comprehensive insurance, but if you have a lease or loan, you may be required by your lender to ...
Many policyholders opt to pay their car insurance premiums on a monthly basis. However, there are times when you might miss a payment due to forgetfulness or because you cannot afford it. In some ...
An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. The insurance transaction involves the policyholder assuming a guaranteed, known, and ...
Universal life insurance (often shortened to UL) is a type of cash value [1] life insurance, sold primarily in the United States. Under the terms of the policy, the excess of premium payments above the current cost of insurance is credited to the cash value of the policy, which is credited each month with interest. The policy is debited each ...