Payment Protection Claims

PPI is a way of protecting loan payments...

The future is always uncertain. Everyone looks out for a secure future for themselves, but no matter how healthy one feels today or how sure about job stability, there is no guarantee of what will happen tomorrow.

To prevent the unknown future problems one can opt for payment protection insurance also known as PPI. PPI insurance basically provides cover to the borrower against the circumstances that may prevent him from earning a living and hence also prevent him from repaying his huge liabilities like car loans, mortgages, etc.

Payment protection insurance is generally sold by banks and other credit suppliers. So all together PPI is a way of protecting loan payments.

PPI payment protection insurance policies are time bound, and generally cover payments on credit produects only for a limited time period that may vary from 12 to 24 months. After that the borrower is himself responsible to pay the outstanding debt. PPI insurance is available to customers to cover various types of credit such as loans, mortgages or credit cards.

Payment Protection Claims provided for mortgages

Protection provided for mortgages is called mortgage payment protection insurance. It provides cover to the borrower in case of his death or if he becomes permanently disabled. Mortgage payment protection may also protect the co-borrower, who may be the spouse or partner of the borrower to completely bear the burden of the debt.

Loan payment protection claims

Another type of payment protection insurance (PPI) is loan payment protection. If the customer chooses to buy loan payment insurance he saves himself from the burden of paying back his outstanding debt for a set period of time in case of an unforeseen event such as; oss of job, death or illness. Loan payment insurance (PPI) can provide help to pay off the borrower’s debt in case of some unavoidable circumstance, which helps not only the borrower but also his family to whom he might be the sole breadwinner.

Purchasing PPI is a beneficial investment only if it is compatible with the customer’s financial situation.

Purchasing PPI is a beneficial investment only if it is compatible with the customer’s financial situation. Consumers must search for the best plan that suits them rather than signing up to the wrong policy.

• In addition to the above mentioned points one must be aware of certain criteria that is to be followed if in the future the customer opts to file for a PPI claim
• It is very important to list your pre-medical conditions
• The age of the customer is very essential and must be between 18-65 years.

Please be cautious while buying Payment protection insurance as it is often missold.

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