Is Life Insurance PPI?

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   Peggy Mace

   Most of the U.S.

   PPI is Payment Protection Insurance that pays off a loan in case of disability, death, or being laid off a job. The payment goes directly to the lending institution. Life Insurance is different, in that it pays a beneficiary chosen by the policy holder and that beneficiary can use the money as they see fit. Also, Life Insurance is only paid to the beneficiary upon death of the insured person.

   Answered on September 3, 2013

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