| Mortgage
payment protection insurance, mppi, mortgage protection
insurance and mortgage insurance
are all used to describe a product that indemnifies
your chosen level of benefit to cover your mortgage
should you claim. Mortgage Insurance is also often
used to describe life insurance that will pay
off the remainder of your mortgage should you
die.
Income
protection insurance and income insurance
are terms used to describe policies that cover
a level of benefit designed to replace your income
should you claim
ASU
- simply means Accident, Sickness and Unemployment
and describes a policy which pays a specified
amount of benefit should you claim
Personal Accident Insurance or PAI
can be applied to any of the above
however it is usually used to describe a policy
which pays a fixed amount of benefit per unit
of cover for individual body parts. (e.g loss
of an eye £1000)
Loan
protection insurance, loan payment insurance and
loan insurance describes policies
particularly designed to pay benefits which would
cover any loan agreement payments should you suffer
an accident, sickness or unemployment and claim.
PPI
- stands for Payment Protection Insurance
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