PPI is designed to cover the monthly repayments of the loan or credit card if the person becomes unemployed, has an accident, becomes ill or dies.
M&S Bank stopped to sell both PPI and Personal Loan Protection (PLP) in 2008. Prior to that time, mortgage payment protection (MPP) was sold, as well as PPI was available with these products:
- M&S Credit Card
- M&S Personal Loan
- M&S Car Buying Plan
- M&S Chargecard
- M&S Budgetcard
- M&S Personal Reserve
Read more about PPI credit cards.