Is Critical Illness Insurance A PPI?

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One response to “Is Critical Illness Insurance A PPI?”

1. 

   September 3, 2013

   Peggy Mace

   PPI, or payment protection insurance, pays a lender if the borrower is disabled, laid off or fired, or deceased. Critical illness insurance usually pays the insured person if they become seriously ill with a life threatening health condition. Sometimes the critical illness policy will go directly to medical bills.
2. 

   June 30, 2013

   Peggy Mace

   A Critical Illness Insurance policy is not the same as a PPI (Payment Protection Insurance) policy. With Critical Illness coverage, the person who has the policy will collect a cash benefit if he/she suffers one of the serious illnesses listed on the policy. With PPI, loan payments will be made to a lender if the person on the policy is unable to work due to illness, injury, or job loss.