Payment protection insurance


 

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Payment protection insurance

A type of insurance that pays your loan for you if you become unable to work for an extended period of time, as a result of redundancy, accident, sickness or disability. Most non-mortgage PPI products are taken out for a length of time that corresponds to the life of the loan it is protecting.



Payment protection insurance

Similar Matches

Effective rate of protection

Effective rate of protection

A measure of the protection provided to an industry by the entire structure of tariffs, taking into account the effects of tariffs on inputs as well as on outputs. Letting bij be the share of input i in the value of output j, the ERP of industry j is ERPj = (tj-Sibijtij)/(1-Sibij). Due to Corden (1966).


Patriotism argument for protection

Patriotism argument for protection

The view that one is helping one's country by buying domestically produced goods instead of imports. In a nondistorted economy, this is not correct, since the country can do better producing where it has a comparative advantage rather than using scarce resources where it does not.


Protection applied

Protection applied

A term used by the London Stock Exchange to denote that a transaction was protected at the time of reporting it.


Second-best argument for protection

Second-best argument for protection

1. Any argument for protection that can be countered by pointing to a different and less distortionary policy that would achieve the same desired result at lower economic cost. 2. An argument for protection to partially correct an existing distortion in the economy when the first-best policy for that purpose is not available. For example, if domestic production generates a positive externality and a production subsidy to internalize it is not available, then a tariff may be second-best optimal.


Cultural argument for protection

Cultural argument for protection

The view that imports undermine a country's culture and identity -- for example by changing consumption patterns to ones more similar to those abroad, or by reducing demands for domestically produced art and music -- and therefore that imports should be restricted.


Further Suggestions

Endogenous protection
Self-sufficiency argument for protection
Environmental protection argument for a trade intervention
Deposit Protection Scheme
Domestic distortions argument for protection
Employment argument for protection
Content protection
Investor Protection Scheme
Political economy of protection
Fairness argument for protection
Contingent protection
Labor standards argument for protection
mortgage protection
Securities Investor Protection Corporation
home responsibilities protection
Exchange rate protection
Infant industry protection
Tariff protection
Nominal rate of protection
Protectionism
Safeguards protection
National defense argument for protection
Foreign investment argument for protection
Balance of payments argument for protection
Call protection


 
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