What is PPI?
Payment protection insurance (PPI) is a policy designed to help you to meet the repayments on your loan or card should you unexpectedly lose your income through redundancy, illness or injury. The exact policy details vary from provider to provider, but essentially the insurance would cover the costs of your monthly repayments over a given time period.
If you do decide that you want to take out this type of insurance, you are under no obligation to buy it from your loan or card provider. Indeed, if you choose to take out your insurance as part of a package with the product itself, it's highly likely that you'll be paying over the odds for it. Simply look up loan protection insurance or credit card insurance online in order to see how much you could be saving by choosing a separate provider.
Over the last ten years, PPI claims have been big news. Loan and credit card providers have routinely mis sold PPI to those for whom the insurance policy is inappropriate. As a result, big name lenders such as Alliance & Leicester, Egg, Capital One and HSBC have been fined millions of pounds and thousands are now claiming PPI back ( payment protection claims ) with our help.
Millions of people who have been affected by mis sold PPI policies are now making PPI claims, and you could be one of them if you pursue a search today.