Single payment bond

 

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Single payment bond

A bond that makes only one payment of principal and interest.



Single payment bond

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Payment protection insurance

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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.


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