If you have been doing business with your bank lately, have you stopped to consider whether you have ever been mis sold Payment Protection Insurance, or PPI? Plenty of people have – up to 20 million, in fact. So before you do anything else today, take the time to check whether you have been mis sold PPI.
What’s the point of PPI?
The whole point of PPI is to help people with their loans, finance agreements, credit cards and mortgages so that if the worst occurs – for example, they get ill or lose their job – they don’t have to worry about making payments. It sounds like a fantastic idea, but unfortunately, many UK banks have taken the opportunity to mis sell PPI on a wide scale.
This can be done in a variety of ways. You may, for example, have been pressured into taking out PPI, possibly by being told that your job or status made it essential, despite the fact that it is optional. Another possibility is that your PPI policy may not cover the full amount of your loan or the full repayment period. Alternatively, pre-existing medical conditions are usually written as exemption clauses and if this applies to your policy, too, you may not have been advised of this.
The scandal of mis sold PPI has rightly led to a long queue of Britons making moves to reclaim their money, and it is not difficult to see why, with the amount that banks make each year as a result of mis sold PPI having reached £5 billion.
Find out more about claiming for mis sold insurance online
The great news is that there is a wide range of companies to be found online that can help you with the process of claiming for mis sold insurance. You can find them simply by performing a search with a search engine such as Google or Bing.
You could have many thousands of pounds to claim back as a result of being mis sold PPI, so what are you waiting for? Take those first steps to claiming back what is rightfully yours today.