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Understanding Payment Protection Insurance
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[QUOTE="moonchild, post: 11153, member: 393"] Payment protection insurance is a type of insurance that is intended to cover borrowers in the event that they are unable to make their loan or credit card payments due to certain specified circumstances, such as unemployment, disability, or death. The purpose of PPI is to provide financial protection to borrowers. If you are considering purchasing Payment protection insurance, it is important to carefully review the terms of the policy to understand what is covered and what is not. Some PPI policies may only cover certain types of loans or credit card accounts, and may have exclusions or limitations on the types of events that are covered. Payment protection insurance can be helpful if you are concerned about being able to make your loan or credit card payments due to unforeseen circumstances, but it is important to carefully consider whether it is a good fit for your needs before committing to a policy. [/QUOTE]
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