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Guide For Reclaiming PPI

 July 29, 2014  /  Comments Off on Guide For Reclaiming PPI

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There are like thousands of people who took out loan, credit card or store card and availed payment protection insurance (PPI) which lead to mis-selling them and hence you may become eligible to claim your premiums or refunds.

Reasons for the Eligibility to Reclaim your PPI Payments

First question which comes to your mind is that whether am I eligible to reclaim a PPI amount?

If you were sold a PPI without realising, or without being told it was optional, then you should look at claiming back. This way you become eligible for PPI Claims. www.freeppicalculator.co.uk guides you to the ways it can be done in detail. There might be situations where you may also have been sold PPI even though your circumstances at that particular time meant you would have had no chance of claiming on it if you needed to also.

Below are the certain points mentioned in www.freeppicalculator.co.uk which might decide and apply to you then there’s a good chance you’ll be entitled to reclaim your PPI amounts.

Guide For Reclaiming PPI

  • If a person were unemployed, self-employed, student or retired when they took out a PPI policy that included unemployment cover and it makes you eligible to apply.
  • If people were older or younger than the upper age limit or lower age limit for your policy, then you can ask them for a refund.
  • If someone was not told about the exclusions and the circumstances in which they can’t reclaim, they may question the person in authority like for example many policies may not have paid out if you were off work because of illness, accidents, with stress or back problems. It can be the minutest of problems and still you can file for a reclaim.
  • If the total cost of adding PPI to the loan is not clearly explained and there are discrepancies to what is actually explained then the quote given for the cost of the loan automatically had PPI added to it and hence the reclaim process becomes applicable.
  • There are many salesmen stating that PPI is compulsory firstly be aware of such people and secondly you become entitle to PPI claims.
  • If it is already covered in a place that could have protected one’s repayments but they were not asked about it or told that you needed a separate cover for repayments, you can easily get your refunds.
  • The term of PPI cover which was stated to the customer was shorter than the term of the loan taken and it wasn’t explained, then it’s again the fault of the salesman or the company selling PPI claims.
  • If a person has a severe medical condition at the time of taking out the policy that could have prevented them from working at some point of time in the future, then the policy holds void.
  • Sometimes the salesmen and the companies pressurizes into taking the PPI cover and you are unable to say no, that time file for a claim.
  • When cancelling of policy terms and conditions are not stated properly or not stated at all.
  • If the person has checked and found that they are paying for PPI that they didn’t realise they had then it may be the case that it was added without the person’s consent or that there was an opt-out box which wasn’t made obvious to the customer.

Always remember, it’s up to the PPI seller to prove that a person had the insurance policy fully explained to and they have actually agreed to pay for it.

If they can’t do that and just sell the policy, then there’s a good chance that claim will be successful.

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