PMI
noun
ukus [ U ] INSURANCE
abbreviation for Private Medical Insurance: medical insurance that you pay to use, rather than using the public health system:
PMI means that if you suffer an acute illness you can get treatment at a time and place that suit you.
[ S ] ECONOMICS
abbreviation for Purchasing Managers' index
[ U ] INSURANCE
US abbreviation for Private Mortgage Insurance: a type of insurance in the US that is paid by someone borrowing money to buy a house. The insurance protects the lender against a fall in the value of the house if the borrower cannot pay back the loan:
A $500,000 mortgage may come with a monthly PMI bill of $250.
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MIP