PPI or payment protection insurance insures an individual from the burden of debt in case of an accident, illness or death of that particular person. It is basically taken when one is borrowing or taking a loan from any bank or financial institution. PPI refunds are a great way to make sure that one does not default on the repayment obligations. It takes away a lot of tension in case of emergencies or mishaps and is something that is recommended to everyone to takes a loan.
PPI refunds are a great way to secure the repayment of outstanding debts. They come into play when one is not in a position to pay back the repayment amount. It makes sure that the loan money is being paid while the person takes some time off till he/she is in a position to start paying back the money in their own.
Bank crunches and subsequent failures have taught us the importance of FDIC insurance. FDIC stands for Federal Deposit Insurance Corporation. FDIC insures up to $100000 of your deposit if you have a personal account. If you are a retiree, you get a cover of $250000. This is a great thought as the retirees have their lifetime savings invested in a bank and they do not have age on their side to recover from the loss.
Now, these are tough times and though banks lure you with teasing interest rates, it is always difficult to trust the banks anymore. So if you are looking to invest more than $100000, go ahead by doing it under various different accounts, none exceeding the $ 100000 mark. This can help greatly with protecting your entire money.
The importance of FDIC rings truer in the light of over $245 million losses faced by investors owing to bank failures.