PPI

Secure Your Loan with PPI

Payment Protection Insurance (PPI), also known as Credit Insurance, Credit Protection Insurance, or Loan Repayment Insurance, is a valuable insurance product that ensures the repayment of your loan in case you face unexpected challenges such as death, illness, disability, job loss, or other circumstances preventing you from earning income to service your debt. It’s important not to confuse PPI with income protection insurance, which covers general income rather than specific debts.

How PPI Works

PPI is widely sold by banks and other credit providers as an add-on to loan or overdraft products. You can purchase credit insurance to cover various types of consumer loans, including car loans, loans from finance companies, and home mortgages. In some cases, credit card agreements may include PPI as a standard feature. Specific policies, such as credit life insurance, credit disability insurance, and credit accident insurance, are also available to cover distinct risks.

Example of PPI in Action

Imagine you take out a personal loan to buy a car. Unfortunately, a few months later, you become seriously ill and can no longer work. Without income, repaying your loan becomes a major concern. If you had PPI, the insurance would cover your loan repayments during your illness, ensuring you don’t fall behind on payments or risk losing your car.

Key Benefits of PPI

Coverage: PPI covers your outstanding loan or finance in the event of unforeseen circumstances such as death, illness, disability, or job loss, subject to the terms and conditions of the policy.
Mandatory for New Loans: For new loans, PPI is compulsory to provide peace of mind and financial security.
No Impact on Loan Approval: Your decision to take up PPI cover does not affect your personal loan or finance application.

Provider and Terms

The PPI cover is provided by American Insurance Group, which bears no direct liability to you regarding this benefit. The following summary outlines the principal provisions of the Master Policy of Group Credit issued by American Insurance Group. We encourage you to review the cover details thoroughly to understand the extent and terms of the protection offered.

By securing PPI, you can ensure that your loan repayments are protected, giving you peace of mind during challenging times.

Credit Boost: Enhance Your Credit Health Effortlessly

What is Credit Boost?

Credit Boost is an innovative and straightforward way to take control of your credit and build long-term credit health. With a simple three-step verification process, you can potentially increase your FICO® Score and improve your credit profile.

How It Works:

Three-Step Verification:
- Connect your account to our Credit Boost system.
- We deposit a small verification amount into your account.
- You return the verification amount to us immediately.
Positive Credit History:
- Once the verification process is complete, we report this positive transaction to the credit bureau.
- This addition to your credit file can help enhance your credit history.
Instant Credit Improvement:
- By completing these steps, you may see an instant rise in your FICO® Score.

Benefits of Credit Boost:

Take Control of Your Credit: Empower yourself by actively managing and improving your credit health.
Simple and Quick Process: Our three-step verification is easy to follow and takes minimal time.
Immediate Impact: Experience the potential of an instant increase in your FICO® Score, improving your creditworthiness.

Enhance your credit profile effortlessly with Credit Boost and take a step towards a healthier financial future.