Missold PPI Insurance

What are the reasons for PPI being mis sold?

In the UK Payment Protection Insurance (PPI) has been mis sold to ten of thousands of people. The question is “Why has PPI been mis-sold to so many UK consumers?”

• PPI is a profitable product for lending organisations in the UK
• PPI providers have missold PPI policies to customers when they know consumers would not be covered.
• The advisers who arrange PPI are encouraged by bonuses and commission.
• Missold PPI policies can make up over 50 percent of the borrowing.
• PPI providers and lenders use selling tactics to make sure consumers buy PPI.

It is very easy to be mis sold a PPI policy because PPI has been promoted as a simple product. So many consumers have been mis sold PPI because the lenders did not follow strict compliance procedures covering the following points:

• Details pre-existing ailments if any,
• Details of our health conditions including your height, weight and age.
• Details of medical history of not only yourself but also your family as well
• Details of occupation and earnings
• Details of lifestyle habits like the amount of alcohol drunk or smoking
• Medical check ups
• Details of amount of the premium you have to pay
• Confirmation of full cover.
• Details of the extent of cover and exclusions if any
• Confirmation that even occupation changes of health changes the policy will hold good.

Why is PPI so easily mis sold to consumers?

To take out a PPI policy in the UK you might have to fill out a form stating that you meet all the conditions of the cover but essentially you are not aware if you are actually covered until you need to put up a claim. This makes the PPI policy mis sold. What you may not know is that not only do you have to meet the conditions of the policy at the time you but it but also at the time you raise the claim. When already in financial hardship due to loss of job or disability, it would be hideous to find out that all the premiums you have been paying have been in vain.

If you’re not sure what do to next – get in touch with us. We should be able to sort out which company is involved and pursue then for compensation.

• 'No Win - No Fee' Service and No Upfront Fees
• Expert friendly advice
• We will handle your case from start to finish

Click here to complete your PPI Claim Form