Friday, August 8, 2025
  • About
  • Write for us
  • Contact
Today News
  • Business
  • Tech
    Smart Car Dash Cam

    How new drivers in big cities can stay safe with smart dash cam technology

    Close-up of a Ray-Ban Eyeglasses

    Ray-Ban Meta Partnership Drives EssilorLuxottica’s Q2 Success

    Telecom Communication

    Guideline to Picking Right Tailored Telcom Solutions

    Spreadsheet

    From Spreadsheet to Smart System: Why Financial Teams Need Web Apps and Formula Transparency

    Why eSIMs Are a Game Changer for Remote Workers

    Why eSIMs Are a Game Changer for Remote Workers

    Ways to Share Video Content Without Internet Access

    Ways to Share Video Content Without Internet Access

    Why UK Grant Management Software Is Essential for NGOs

    Why UK Grant Management Software Is Essential for NGOs

    One App, Infinite Uses: How Revolut Is Reshaping Online Transactions

    One App, Infinite Uses: How Revolut Is Reshaping Online Transactions

    VPNs

    Households and VPNs: The New Normal in Digital Protection

  • Consumer
    Craving Connection: Why Food Gifting Is the New Love Language

    Craving Connection: Why Food Gifting Is the New Love Language

    How to Celebrate Milestones from Afar: The Rise of Digital Gifting in the UK

    How to Celebrate Milestones from Afar: The Rise of Digital Gifting in the UK

    How to adjust glasses at home – a step-by-step guide!

    How to adjust glasses at home – a step-by-step guide!

    Why quality toilet cubicle hardware matters

    Why quality toilet cubicle hardware matters

    Common Mistakes in KYC Identity Verification

    Common Mistakes in KYC Identity Verification

    Consumer habits

    British Furniture Market Sees Significant Changes in Consumer Preferences

    Why are high-street bookmakers declining in the UK?

    Why are high-street bookmakers declining in the UK?

    Straps for smartwatches: The Complete guide

    Straps for smartwatches: The Complete guide

    High street retailers are at a “crossroads”, says retail tycoon

    High street retailers are at a “crossroads”, says retail tycoon

  • Finance
    Panoramic view of London's skyline featuring iconic buildings like the Shard and the London Eye against a clear sky

    Can London Still Compete with Silicon Valley and Berlin in Tech Investment?

    Using a Laptop

    How to Accept Altcoin Payments and Upgrade Your UX Strategy

    Crypto Loans Meet Open Banking: Will Hybrid Products Redefine Borrowing?

    Crypto Loans Meet Open Banking: Will Hybrid Products Redefine Borrowing?

    Fintevex.io vs The Rest: What Happened When We Put It to the Test

    Fintevex.io vs The Rest: What Happened When We Put It to the Test

    5 Smart Money Moves For Dynamic People

    5 Smart Money Moves For Dynamic People

    What Is a Payment Gateway and Why Your Business Needs One

    What Is a Payment Gateway and Why Your Business Needs One

    How Ethereum is changing things in the business world in 2025

    How Ethereum is changing things in the business world in 2025

    Financial Literacy and Artificial Intelligence – A Psychologist’s Perspective

    Financial Literacy and Artificial Intelligence – A Psychologist’s Perspective

    Everything You Need to Know About Multi-Million Loans

    Everything You Need to Know About Multi-Million Loans

  • Environment
    Five Ocean Discoveries That Could Change How We See the World

    Five Ocean Discoveries That Could Change How We See the World

    Choosing the Right Sustainability Partner: How Eco-Efficient Tech Transforms Industry

    Choosing the Right Sustainability Partner: How Eco-Efficient Tech Transforms Industry

    Moving Abroad? Here’s What to Expect – and Why Cardboard and Plastic Waste Removal Is Essential After Unpacking

    Moving Abroad? Here’s What to Expect – and Why Cardboard and Plastic Waste Removal Is Essential After Unpacking

    How Weather Events Like Heavy Rain or Heatwaves Affect Pest Activity

    How Weather Events Like Heavy Rain or Heatwaves Affect Pest Activity

    Building a Carbon-Competitive Advantage with Sustainability and Decarbonization Consulting

    Building a Carbon-Competitive Advantage with Sustainability and Decarbonization Consulting

    The Lost Art of Orienteering: Why Map and Compass Skills Still Matter

    The Lost Art of Orienteering: Why Map and Compass Skills Still Matter

    Sustainability in Dining: Reducing Waste for a More Profitable Future

    Sustainability in Dining: Reducing Waste for a More Profitable Future

    Environmental Benefits

    What Are The Environmental Benefits Of Choosing Eco-friendly Rubbish Removal In Croydon?

    Why You Should Hire Waste collectors for efficient waste removal

    Why You Should Hire Waste collectors for efficient waste removal

  • Property
    How to Streamline Your Home Expenses

    How to Streamline Your Home Expenses

    How To Plan Your Home Improvements in Six Easy Steps

    How To Plan Your Home Improvements in Six Easy Steps

    Budgeting for a House Sale: What Most Sellers Forget

    Budgeting for a House Sale: What Most Sellers Forget

    Home and business removals: Streamlining your move

    Home and business removals: Streamlining your move

    Maximizing Your Investments: A Guide to Purchasing Villas for Sale in Dubai 2025

    Maximizing Your Investments: A Guide to Purchasing Villas for Sale in Dubai 2025

    6 Common Admin Mistakes that Property Managers Make

    6 Common Admin Mistakes that Property Managers Make

    Property Investment Strategy

    Interest Rate Hikes and How They Impact Your Property Investment Strategy

    How Local Storage Services Make Home Organisation Easy

    How Local Storage Services Make Home Organisation Easy

    Stay safe at home: The benefits of intruder alarms in St Helens

    Stay safe at home: The benefits of intruder alarms in St Helens

  • eCommerce
    From 1688 to shopee: the singaporean seller’s guide to paying china suppliers

    From 1688 to shopee: the singaporean seller’s guide to paying china suppliers

    The Importance of Digital Valuations for UK Ecommerce Brands

    The Importance of Digital Valuations for UK Ecommerce Brands

    Blink-and-Buy: Designing Checkouts That Convert in Under 10 Seconds

    Blink-and-Buy: Designing Checkouts That Convert in Under 10 Seconds

    High Stakes Strategies: Lessons E-commerce Entrepreneurs Can Learn from Casinos

    High Stakes Strategies: Lessons E-commerce Entrepreneurs Can Learn from Casinos

    Amazon Expert

    Amazon Expert: Key Qualifications to Look For

    Boosting Ecommerce Revenue with Smart Targeting Strategies

    Boosting Ecommerce Revenue with Smart Targeting Strategies

    Personalized Shopping: How Technology is Transforming Retail

    Personalized Shopping: How Technology is Transforming Retail

    How Can Ecommerce Businesses Learn From Entertainment Platforms?

    How Can Ecommerce Businesses Learn From Entertainment Platforms?

    Magento Web Development Company: Unlocking the Power of E-Commerce

    Magento Web Development Company: Unlocking the Power of E-Commerce

No Result
View All Result
Today News
Home Finance

What is Credit Card Payment Protection Insurance?

David Prior by David Prior
May 21, 2024
Reading Time: 7 mins read
What is Credit Card Payment Protection Insurance?
490
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

Introduction

In today’s fast paced world, credit cards have become an integral part of daily financial transactions for millions of people worldwide. While credit cards offer convenience and flexibility, they also come with risks, such as the potential inability to make payments due to unforeseen circumstances like illness, injury, or job loss. To mitigate these risks, many credit card issuers offer Payment Protection Insurance (PPI) as an optional add on. In this comprehensive guide, we explore what Credit Card Payment Protection Insurance entails, its features and benefits, controversies, and considerations for consumers.

What is Credit Card Payment Protection Insurance (PPI)?

Credit Card Payment Protection Insurance, commonly referred to as PPI, is an optional insurance product offered by credit card issuers to help protect cardholders in the event they are unable to make their monthly credit card payments due to circumstances such as unemployment, disability, illness, or death. PPI typically covers minimum monthly payments for a specified period and provides financial assistance during times of hardship.

Related posts

Panoramic view of London's skyline featuring iconic buildings like the Shard and the London Eye against a clear sky

Can London Still Compete with Silicon Valley and Berlin in Tech Investment?

August 5, 2025
443
Using a Laptop

How to Accept Altcoin Payments and Upgrade Your UX Strategy

August 4, 2025
550

How Does Credit Card PPI Work?

Credit Card PPI works by providing coverage for eligible events that may prevent cardholders from making their credit card payments. The specific terms and conditions of PPI vary depending on the credit card issuer and the policy purchased. However, the following are typical components of Credit Card PPI:

  • Coverage events:

Credit Card PPI typically covers events such as involuntary unemployment, disability, illness, or death of the cardholder. Some policies may also include coverage for other circumstances, such as hospitalisation or a critical illness.

  • Premiums:

Cardholders pay premiums for Credit Card PPI, either as a percentage of their outstanding balance or as a flat monthly fee. The cost of premiums varies depending on factors such as the cardholder’s age, credit limit, and the level of coverage selected.

  • Coverage Limits:

Credit Card PPI policies have coverage limits, including maximum benefit amounts and waiting periods before benefits are paid. These limits vary depending on the terms of the policy and may affect the extent of protection provided to cardholders.

  • Claim Process:

In the event of an eligible claim, cardholders must follow the insurer’s claim process to receive benefits. This typically involves submitting documentation, such as proof of unemployment or medical records, to support the claim. Once approved, the insurer pays the minimum monthly credit card payments on behalf of the cardholder for the specified coverage period.

Features and Benefits of Credit Card PPI

Credit Card PPI offers several features and benefits designed to provide financial security and peace of mind to cardholders facing unexpected hardships. Some of the key features and benefits include:

  • Financial Protection:

Credit Card PPI provides financial assistance to cardholders during times of hardship, such as job loss, illness, or disability. By covering minimum monthly payments, PPI helps prevent missed payments, late fees, and negative credit consequences.

  • Peace of Mind:

Having Credit Card PPI gives cardholders peace of mind knowing that they have a safety net in place to help manage their credit card payments in case of unexpected events. This can alleviate stress and anxiety associated with financial uncertainty.

  • Flexibility:

Credit Card PPI policies offer flexibility in coverage options, allowing cardholders to tailor their protection to their specific needs and circumstances. Cardholders can choose the level of coverage and duration of protection that best suit their financial situation.

  • Convenience:

Credit Card PPI is typically easy to apply for and can be added to an existing credit card account with minimal hassle. Many credit card issuers offer online enrollment and automatic premium payments for added convenience.

  • Additional Benefits:

Some Credit Card PPI policies may include additional benefits and such as debt cancellation in the event of death and disability and or terminal illness and as well as coverage for certain medical expenses or other unforeseen costs related to the covered events.

Controversies Surrounding Credit Card PPI

While Credit Card PPI can provide valuable protection for cardholders and the product has been the subject of controversy and criticism due to various issues and including:

  • Mis selling:

In the past and Credit Card PPI was often mis sold to consumers who did not fully understand the product or its limitations. Some cardholders were unaware they had PPI or were pressured into purchasing it without being given proper information about the costs and exclusions and or alternatives.

  • Excessive Fees:

Critics argue that Credit Card PPI premiums can be excessive and especially when compared to the level of coverage provided. High premiums may erode the financial benefits of PPI and particularly for cardholders who do not ultimately need to make a claim.,

  • Limited Coverage:

Credit Card PPI policies often have numerous exclusions and limitations that may restrict coverage for certain events or individuals. For example, pre existing medical conditions, self employment, or temporary employment may be excluded from coverage, limiting the effectiveness of PPI for some cardholders.

  • Difficulty Making Claims:

Some cardholders have encountered challenges when trying to make claims under their Credit Card PPI policies. Insurers may require extensive documentation or impose strict criteria for eligibility, making it difficult for cardholders to access the benefits they are entitled to.

Considerations for Consumers

Before purchasing Credit Card PPI, consumers should carefully consider the following factors to determine if the product is suitable for their needs:

  • Cost vs. Benefit:

Evaluate the cost of Credit Card PPI premiums against the potential benefits of coverage. Consider factors such as the likelihood of needing to make a claim, the level of protection provided, and alternative forms of insurance or savings that may offer similar benefits at a lower cost.

  • Terms and Conditions:

Read the terms and conditions of the Credit Card PPI policy carefully to understand the coverage limits, exclusions, waiting periods, and claim procedures. Pay attention to any restrictions or limitations that may affect the usefulness of the product in your specific circumstances.

  • Alternatives:

Consider alternative forms of protection, such as emergency savings, disability insurance, or unemployment benefits, which may provide similar or better coverage at a lower cost. Compare the features, costs, and benefits of different insurance products to find the best solution for your needs.

  • Cancellation Options:

Understand the process for cancelling Credit Card PPI if you decide it is no longer necessary or if you find a more suitable alternative. Be aware of any fees or penalties associated with cancelling PPI and consider whether the benefits outweigh the costs of continuing coverage.

Best Insurance

Best Insurance in the UK prioritises the financial security and peace of mind of its customers by offering comprehensive credit card payment protection insurance (PPI). With a commitment to excellence and customer satisfaction, Best Insurance ensures that its PPI policies provide robust coverage tailored to the individual needs and circumstances of cardholders. By partnering with reputable insurers and adhering to stringent industry standards, Best Insurance offers PPI policies that safeguard cardholders against unforeseen events such as unemployment, disability, illness, or death, which may prevent them from making their credit card payments. With transparent terms, competitive premiums, and reliable claim processing, Best Insurance empowers cardholders to navigate financial challenges with confidence, knowing they have a trusted partner to support them in times of need. Whether it is covering minimum monthly payments, providing debt cancellation in the event of death or disability, or offering additional benefits for medical expenses or unforeseen costs, Best Insurance ensures that cardholders have the protection they need to manage their credit card obligations and preserve their financial well being.

Conclusion

Credit Card Payment Protection Insurance can offer valuable financial protection and peace of mind to cardholders facing unexpected hardships. By covering minimum monthly credit card payments in the event of unemployment, disability, illness, or death, PPI helps prevent missed payments, late fees, and negative credit consequences. However, consumers should carefully consider the costs, terms, and alternatives before purchasing Credit Card PPI to ensure it aligns with their financial needs and circumstances. By weighing the benefits and risks of PPI and making informed decisions, cardholders can effectively manage their financial risks and safeguard their financial well being. 

David Prior

David Prior is the editor of Today News, responsible for the overall editorial strategy. He is an NCTJ-qualified journalist with over 20 years’ experience, and is also editor of the award-winning hyperlocal news title Altrincham Today. His LinkedIn profile is here.

Previous Post

How Reading Boosts Your Brain

Next Post

Are Liverpool’s 2024/25 Transfer Plans Delayed While Identifying a New Manager?

Related Posts

Panoramic view of London's skyline featuring iconic buildings like the Shard and the London Eye against a clear sky
Finance

Can London Still Compete with Silicon Valley and Berlin in Tech Investment?

August 5, 2025
443
Using a Laptop
Finance

How to Accept Altcoin Payments and Upgrade Your UX Strategy

August 4, 2025
550
Crypto Loans Meet Open Banking: Will Hybrid Products Redefine Borrowing?
Finance

Crypto Loans Meet Open Banking: Will Hybrid Products Redefine Borrowing?

August 2, 2025
554
Fintevex.io vs The Rest: What Happened When We Put It to the Test
Finance

Fintevex.io vs The Rest: What Happened When We Put It to the Test

July 29, 2025
451
5 Smart Money Moves For Dynamic People
Finance

5 Smart Money Moves For Dynamic People

July 28, 2025
493
What Is a Payment Gateway and Why Your Business Needs One
Finance

What Is a Payment Gateway and Why Your Business Needs One

July 21, 2025
583
Next Post
Are Liverpool’s 2024/25 Transfer Plans Delayed While Identifying a New Manager?

Are Liverpool's 2024/25 Transfer Plans Delayed While Identifying a New Manager?

RECOMMENDED NEWS

Engineer working on a circuit board for sustainable solutions

Sphero® Unveils Blueprint Engineering™ Kits to Revolutionize STEM Learning and Inspire the Next Generation of Engineers

10 months ago
439
The Best Bath Towels You Can Buy Right Now, Tested and Reviewed from Reputable Textile Merchants

The Best Bath Towels You Can Buy Right Now, Tested and Reviewed from Reputable Textile Merchants

2 years ago
463
Creating an Insulated Workspace in Your Garden

Creating an Insulated Workspace in Your Garden

2 years ago
450
The Quiet Revolution in Learning: Why Students Are Ditching Traditional Study Methods

The Quiet Revolution in Learning: Why Students Are Ditching Traditional Study Methods

4 months ago
491

BROWSE BY CATEGORIES

  • Business
  • Careers
  • Charity
  • Consumer
  • Culture
  • eCommerce
  • Education
  • Energy
  • Engineering
  • Entertainment
  • Entrepreneurs
  • Environment
  • Fashion
  • Finance
  • Food & Drink
  • Gaming
  • Gardening
  • Health
  • Insurance
  • Interiors
  • Legal
  • Leisure
  • Lifestyle
  • Manufacturing
  • Marketing
  • National
  • News
  • Opinion
  • Pets
  • Politics
  • Property
  • Sales
  • Sport
  • Sports
  • Tech
  • Transport
  • Travel
  • Uncategorized

BROWSE BY TOPICS

AI autosmart banking Beauty business Christmas construction Corteiz cyber security data digital Digital Marketing Services ecommerce entertainmnet finance fitness Forex health inflation insurance kitchen KYND lifestyle manchester music News north overseas Personal Injury Pharmaceutical Industry property Real Estate recruitment Skincare Solar Panel Installation sports technology tourism travel UK vehicles watch Water Filter Pitcher workspace yorkshire

Latest news

Telehealth Home Monitoring vs. Traditional Care Visits: Maximizing Value in Aged Care

Telehealth Home Monitoring vs. Traditional Care Visits: Maximizing Value in Aged Care

August 8, 2025
Judge gavel, a small mallet

UK Gambling Reform 2025: What Betting Operators and Punters Can Expect

August 7, 2025
Man in black crew neck t-shirt using macbook

How Online Casino Gamers Stay Social While Playing Solo

August 7, 2025
Smart Car Dash Cam

How new drivers in big cities can stay safe with smart dash cam technology

August 7, 2025
Close-up of beers in Amsterdam

Beer Bike Amsterdam: Top Things to Avoid for the Best Experience

August 7, 2025
How to Streamline Your Home Expenses

How to Streamline Your Home Expenses

August 6, 2025
Virtual Cards

The Rise of Virtual Cards. What Businesses Need to Know for the Next 10 Years

August 6, 2025
E-Bike

Why Commuting by E-Bike Is One of the Easiest Ways to Reduce Your Carbon Footprint

August 6, 2025
Dental Implants

Restore Your Smile with Confidence: Find the Best Dental Implant Specialists

August 6, 2025
Babywonders

Babywonders UK: Luxury Baby Gift Sets for Cherished Moments

August 6, 2025

Today News

  • About
  • Write for us
  • Contact
  • Privacy Policy

@2024 Rooftree Publishing Ltd

Today News in association with Kajino.com

Sign up for our newsletter




  • Business
  • Tech
  • Consumer
  • Finance
  • Environment
  • Property
  • eCommerce

Recent News

Telehealth Home Monitoring vs. Traditional Care Visits: Maximizing Value in Aged Care

Telehealth Home Monitoring vs. Traditional Care Visits: Maximizing Value in Aged Care

August 8, 2025
Judge gavel, a small mallet

UK Gambling Reform 2025: What Betting Operators and Punters Can Expect

August 7, 2025
No Result
View All Result
  • Home
  • Business
  • Tech
  • Consumer
  • Finance
  • Environment
  • Property
  • eCommerce
  • Write for us
  • About
  • Contact