Ensure loan repayments during financial hardship
Payment Protection & Default Insurance
Payment Protection Insurance (PPI) covers a borrower's repayments in the event of unforeseen hardships such as job loss, illness, or disability. It ensures that loans or credit agreements remain in good standing, typically for up to 12 months, while the borrower recovers. This insurance provides peace of mind for both the borrower and lender—helping maintain credit health and avoid defaults during financially challenging times.
Key Benefits
Job loss coverage
Illness and disability protection
Loan repayment continuation
Credit health maintenance
Default prevention
Peace of mind for borrowers
Lender risk reduction
Common Use Cases
- • Mortgage protection
- • Personal loans
- • Credit card payments
- • Auto loans
How It Works
Step 1: Policy Purchase
Borrower obtains payment protection insurance
Step 2: Qualifying Event
Job loss, illness, or disability occurs
Step 3: Payment Coverage
Insurance covers loan payments during hardship
Target Audience
Borrowers, mortgage holders, credit card users, personal loan customers