Meaning & use
MPPI insurance
Last updated
Meaning
noununcountablebusinessfinance
Insurance that pays your mortgage for a short time if you lose your job or become too ill to work.
Grammar: Uncountable; say 'MPPI insurance', not 'an MPPI insurance'.
Patterns
- take out MPPI insurance
- have MPPI insurance
- MPPI insurance covers something
They took out MPPI insurance when they bought their first home.
MPPI insurance can help if you are made redundant.
The bank offered MPPI insurance along with the mortgage.
Common combinations
- take out MPPI insurance
- We decided to take out MPPI insurance to protect our home.
- MPPI insurance policy
- Read the MPPI insurance policy carefully before you sign.
- claim on MPPI insurance
- He made a claim on his MPPI insurance after losing his job.
Synonyms and how they differ
- mortgage payment protection insurance
- The full form; use it in formal writing or when first introducing the abbreviation.
Commonly confused: MPPI insurance or PPI?
MPPI insurance vs PPI
PPI is Payment Protection Insurance, a broader type that can cover loans and credit cards, not just mortgages. MPPI is specifically for mortgage payments.
Practice
What does MPPI insurance usually cover?
Choose one answer.
MPPI stands for Mortgage Payment Protection Insurance, so it helps pay your mortgage if you cannot work. The other options are covered by different types of insurance.
Make it your own
Write a sentence using “MPPI insurance”, then check it and compare it with the examples above.