Medicare Supplement – Insurance Quotes

There has been a large amount of controversy over recent years about payment protection insurance (PPI), mainly as a result of overzealous brokers using unethical practices when selling it to clients. The term now used for this kind of activity is known as mis sold payment protection insurance or mis sold PPI.

In numerous cases of this mis-sold ppi, the loan providers would lie and tell the potential loan borrower that they would not receive a loan without getting the PPI. This indeed was a falsity and a measure to deceive. In these instances, the borrowers that feel for the trap to buy the PPI were charged a much higher priced policy than if they had obtained PPI on their own.

Other borrowers may not even realize they purchased a payment protection insurance policy. It might be a wise choice if you had received a loan or mortgage and were never offered PPI to check and see if you are paying for a policy you did not consent too.

Here is a list of questions to ask to see if you were mis sold payment protection insurance.

* Did the lending company tell you the policy was not optional, or did they imply that the PPI cover was required in order to receive the loan?
* Did the lending company ask about your employment status and whether you had any pre-existing medical conditions?
* Did the lender allow you to look at the policy terms and conditions prior to the close?
* Did the lending company ask you if you owned any other insurance that would cover such risks?
* Were you sold PPI while self-employed?
* Were you told of the limitations and just what pre-existing conditions may not be covered?
* Did the lender advise you on what the total APR would be of your loan with PPI included?
* Finally, if you did purchase payment protection insurance and tried to cancel it, were you denied?

If you answered yes to some of these questions it is likely that you may have a case and therefore file the ppi claims. There are several ways one can do this. You can contact specialists in the field that may help you with the claim. Many companies will do all the work trying to acquire a fair settlement for you. You are also able to pursue your mis sold payment protection insurance claim by contacting the Financial Ombudsman and get the information required to file.

You might be able to file PPI Claims if you believe you were mis sold payment protection insurance, contact Simplicity Claims, they can act on your behalf filing or offer you more information.

Tags: Insurance, mis sold payment protection insurance, mis-sold ppi, payment protection insurance, PPI

This entry was posted on Saturday, August 7th, 2010 at 3:11 pm and is filed under Insurance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.