The possibility of defaulting on a loan, credit card, or mortgage is absolutely terrifying to the average consumer and home on. This is understandable, as in recent times economic crises has led to lower household incomes, and a higher rate of unemployment in the UK than ever before. During the last couple of years a certain type of insurance has become extremely popular amidst the financial uncertainty – payment protection insurance (PPI). This type of insurance is specifically designed to provide a “backup plan” to individuals that unexpectedly are unable to work and repay their debts.
This unique type of insurance is usually sold by the company that is offering the loan, credit card, or mortgage. H Read more…