PPI in the News...

Payment protection insurance (PPI) is a financial product that is intended to offer security to both the lender and the loan holder. In the event of unforeseen events including illness, accident and job loss, PPI coverage can assist a loan holder by covering monthly payments until such time as he is able to resume responsibility. The lender receives payment on the loan and the loan holder does not suffer blemishes on his credit record. That is how PPI is designed to work. However, in recent years, PPI has been in the news for reasons other than what it was designed for and...