The Bank Note Blog » Insurance http://thebanknoteblog.com Thu, 17 May 2012 15:57:46 +0000 en hourly 1 http://wordpress.org/?v=3.0.4 Breaking Down Payment Protection Insurance http://thebanknoteblog.com/breaking-down-payment-protection-insurance/ http://thebanknoteblog.com/breaking-down-payment-protection-insurance/#comments Mon, 19 Mar 2012 18:50:22 +0000 admin http://thebanknoteblog.com/breaking-down-payment-protection-insurance/ Payment protection insurance (PPI) is optional insurance coverage purchased to protect the standing of a loan if the loan holder finds himself unemployed due to sickness, accident or loss of job. PPI policies are most commonly purchased alongside mortgages, auto and personal loans and credit cards. They are available with nearly any established line of credit. It is important to be aware that PPI coverage does not protect a policy holder who voluntarily leaves his job. Although qualification criteria vary, in most cases, claims are accepted within one year of the triggering event. But if you’re not sure about how to act about it, you can find help online.

PPI coverage is widely sold by banks, finance companies, loan companies, and credit card providers. These policies are sold alongside the loan at the time of the loan agreement, or at the time the line of credit is opened. Many consumers do not know, and are rarely informed of, is that coverage can also be purchased after the loan has been obtained through insurance brokers and other agents.

The structure of PPI payments can vary. Premiums can be paid in installments, with a payment added on to the monthly loan payment. They can also be paid upfront and in full. This single premium payment type avoids extended interest rates. However, if included on an interest-bearing loan, it can be very expensive.

]]> http://thebanknoteblog.com/breaking-down-payment-protection-insurance/feed/ 0 State Grant Program http://thebanknoteblog.com/state-grant-program/ http://thebanknoteblog.com/state-grant-program/#comments Thu, 05 Nov 2009 14:10:27 +0000 admin http://thebanknoteblog.com/?p=21 The purpose of this program is to fund local programs of adult education and literacy services. This includes workplace literacy services such as, English literacy, civics education programs and family literacy services. To participate in this program you must be and out of school youth of age 16 or older or you must be an adult.
Possible uses for this program is speaking in the English language, English language acquisition along with other literacy skills. Including professional development, No more than 12.5 percent of the State allotment may be used for State leadership activities.
Those who can benefit from this program are: those not enrolled or required to be enrolled in secondary school under the State law, those who have not achieved an equivalent level of education, who lack sufficient mastery of basic educational skills to enable them to function effectively in society, or are unable to speak, read, or write the English language.
Also, those who do not have a secondary school diploma or its recognized equivalent. Furthermore, this program is subject to non-supplanting requirements and must use a restricted indirect cost rate.

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