MoneyExpert: Lloyds TSB's new-style PPI

Sean Gardner, director of MoneyExpert.com, said: "One of the major bones of contention over PPI has been the expense of piling upfront costs onto a loan, meaning the customer incurs long term interest on the price they paid.

"Monthly payments that are not rolled onto the overall cost of a loan are definitely an improvement and will go some way to making PPI a more palatable product for many people. The Lloyds TSB product is one of the best in the market in terms of cover - but the jury is still out on how PPI will change to better help consumers in future."