It's an insurance cover which pays your monthly repayments on credit cards or loan, in case you have lost your job or you are too sick to work.
An optional insurance policy which covers the cost of mortgage repayments for an agreed period of time in the event of sickness, injury or unemployment.
Additional monthly premium offered by many card to cover payments in the event of illness, disability or unemployment.
Payment Protection is an option on all loans from ADM, and is a kind of insurance policy to cover your loan repayments should your financial circumstances take a turn for the worse - if you are ill, lose your job, or otherwise find yourself with drastically reduced income.
A type of insurance to cover your monthly repayments on a credit card or loan should you lose your job or be too ill to work.
Payment protection will pay a percentage of the monthly balance on your statement in the event that accident or sickness prevents you from working or you become unemployed through no fault of your own.
An optional insurance that covers loan repayments over a specified length of time, typically around one year. This applies to cases when the bearer is unable to meet payments due to an accident, injury or illness, or loss of employment.
A feature of most programs that protects you from unexpected expenses. For example, in a DeltaPremier fee-for-service program that pays an 80 percent benefit on covered services, you are assured that your copayment will not be more than the remaining 20 percent, as long as you have gone to a participating Delta Dental dentist.
An insurance policy designed to cover mortgage payments in the event of a borrower being unable to work through accident, sickness or redundancy. Becoming a much more important consideration now that DSS support for distressed mortgage payers has been drastically reduced.
See accident, sickness and unemployment insurance.