Insurance is shifting the risk to someone or something that is more likely to be able to handle the catastrophic event. People often insure their life through life insurance, their income through disability insurance, their business through business overhead insurance, etc.
Payment Protection Insurance, often known as PPI, is used as a way to provide you protection in the event of a life crisis that would prevent you from paying off your debt. This way, if you were faced with an illness, death or job loss, you would still be able to pay off your debt. PPI Claims In the UK, there has been an epidemic of PPI being missold to consumers. Policies are being lumped in with the paperwork for mortgages, credit cards, loans, etc. Once a missold policy has been discovered, people have been trying to reclaim their money. Hire Help [...]