Payment Protection Insurance (PPI)

Payment Protection Insurance (PPI) is a type of insurance that covers your loan or credit repayments if you experience events like illness, accident, or unemployment, making it difficult to work. Essentially, it helps ensure your bills are paid during tough times, providing financial security. PPI can be purchased alongside loans, credit cards, or mortgages to offer peace of mind that your repayments will continue if you're unable to work temporarily or permanently.