• Home

Written by admin on June 29, 2010 – 2:45 pm

Mis-sold Payment Protection Insurance (PPI) has been a major subject of contention for a while. Research by the Financial Services Authority (FSA) has found there have been millions of cases of mis-sold PPI policies.

Are any of the following cases from the FSA familiar? If you can relate to any of these cases, you can make a claim for mis-sold PPI, today!

• You didn’t ask for a PPI policy, but it was added without you being made aware
• You were informed PPI was compulsory or that by taking it, you would have a better chance of obtaining finance
• You wasn’t made aware payment protection was optional or that you could purchase cheaper cover elsewhere
• If you already had alternative cover that could insure your repayments – such as income protection or an employer illness or redundancy package – but were not asked about this, you could claim.
• Any exclusions on the policy were not pointed out to you – for example the terms for cancelling the cover or significant exclusions such as stress and back problems
• You were unemployed, retired or self-employed when you took out the cover – if so, you would be unable to make a valid insurance claim
• You had a medical problem or illness at the time of taking out the cover that could have kept you from working – PPI is unsuitable insurance cover in this case
• Many policies have an upper age limit, usually 65 or 70. You claim if you were older than this at the time of taking out the PPI policy.
• If you bought PPI to cover a long term loan, there is a chance that the insurance will run out before the loan is repaid. Many PPI policies will not cover the full loan term; the seller should have explain this limitation. If they didn’t, you can claim.

If you believe you have a mis-sold PPI policy after reading the above, you are eligible to make a claim.