Payment Protection Insurance

Many people signing up for credit cards or loans have, sometimes unwittingly, also signed up for Payment Protection Insurance. This ensures repayment if the policyholder becomes unable to satisfy their liability on account, for example, of death, disability, loss of employment or illness.

Claims have been rife from people who are unhappy to find that they have signed-up for such policies, and these have been encouraged by claims management companies, which stand to benefit from any successful claim.

The Financial Ombudsman has warned consumers against becoming involved with claims management companies and has drawn attention to a free PPI questionnaire, which is available from the web site www.financial-ombudsman.org.uk Claims made before 29 August 2019 will be free of charge.

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Payment Protection Insurance

Many people signing up for credit cards or loans have, sometimes unwittingly, also signed up for Payment Protection Insurance. This ensures repayment if the policyholder becomes unable to satisfy their liability on account, for example, of death, disability, loss of employment or illness.

Claims have been rife from people who are unhappy to find that they have signed-up for such policies, and these have been encouraged by claims management companies, which stand to benefit from any successful claim.

The Financial Ombudsman has warned consumers against becoming involved with claims management companies and has drawn attention to a free PPI questionnaire, which is available from the web site www.financial-ombudsman.org.uk Claims made before 29 August 2019 will be free of charge.