What Does PPI Stand For?
PPI stands for Payment Protection Insurance
Payment Protection Insurance (PPI) is a type of insurance designed to cover loan repayments in the event that the borrower is unable to make payments due to unforeseen circumstances, such as illness, accident, or unemployment. PPI was commonly marketed alongside personal loans, credit cards, and mortgages to provide financial security for borrowers. However, it has been the subject of controversy and regulatory scrutiny due to widespread mis-selling practices.
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Added on 22nd May 2008 | Last edited on 16th June 2025 | Edit Acronym