3 Things to Consider When Making a Claim for PPI


Payment protection insurance, more commonly referred to as PPI, is an issue that has continued to be prevalent throughout society and the media for the recent years. These days, insurance providers, financial organizations, and banks are in the process of carefully examining and improving the process available for claiming back the funds paid for unnecessary PPI.

Claiming Reimbursement For PPI

Payment protection is an insurance plan that was designed to assist people with maintaining their loan payments in the unforeseen circumstances of hospitalization, illness, or unemployment. With websites such as http://www.haveigotppi.org.uk available to help people discover whether they have the grounds to re-claim their payment protection insurance, more individuals than ever are looking to find out more about PPI. If you are considering applying for a PPI claim, it is essential that you consider the personal condition of your situation or circumstances to properly evaluate whether you qualify to claim. Understanding these factors can help to prepare you when it comes to claiming for PPI.

1.)    What Is Your Status? Unemployed, Retired, Self-employed?

If you are:

  • Unemployed
  • Retired
  • Self-employed

after you have taken out payment protection insurance, then you should have the grounds to make a PPI claim. The personal protection insurance becomes meaningless if you took it out when you were already retired, self-employed, or unemployed. If you were engaged in part-time work at the time, then you would not have been eligible to take out PPI, nor would you if you were engaged in a short-term contract.

2.)    How Old Were You When You Were Sold PPI

It is important to remember that payment protection plans can only be sold to someone between the ages of 18 and 65. If you had applied for payment protection when you were younger than eighteen, you may be eligible to make a claim that you were missold PPI. Some policies will have an age threshold which dictates that a claim cannot be made depending on whether you have reached their set age limit. If you have surpassed that age threshold, then your PPI would become ineffective.

3.)    Did You Have Medical Issues When You Were Sold PPI?

If you signed up for a payment protection plan knowing that you had a health problem which was capable of contributing to a loss of your current work, you were miss-sold PPI. In this case, you should be able to have the repayment costs you have paid for the payment protection reimbursed, but the process of this will depend largely on the insurance company that you had. The best course of action in this case would be to speak to a lawyer or insurance professional about the state of your medical health when you were sold PPI, and how that could contribute to an easier claim for reimbursement.

Author bio: James Patrick has a long history of working with various insurance providers and law professionals over the previous decade, particularly when it comes to claims for payment protection insurance.

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James is a financial expert who has contributed several business and finance related articles. His expertise and first-hand knowledge of economics makes his blogs and articles informative and helpful for those looking out for guidance and assistance in matters related to finance. He has an active schedule of TV and radio interviews He is co-host of the popular VT Radio show Jim and Gordie Show. latest-articles-buttonJim comes from an old military family dating back to the American Revolution. Dozens of Confederate ancestors fought for the South in the War Between the States. Uncles fought in WWII and Korea. His father was a WWII P-40 and later P-51 Mustang fighter pilot. Vietnam found several uncles serving, a cousin, and brother Wendell as a young Ranger officer. His mother was a WWII widow at 16, her first husband killed with all 580 aboard when the SS Paul Hamilton, an ammunition ship with 7000 tons of explosives aboard, was torpedoed off the coast of Algiers. He has been writing, speaking and doing public relations, television, consulting and now multimedia work for a variety of American heritage, historical, military, veterans and Intel platforms. Jim’s only film appearance was in the PBS Looking for Lincoln documentary with Prof. Henry Lewis Gates, and he has guest lectured at the Army Command and General Staff School at Fort Gordon. Currently he is working to take his extensive historical video archives on line to assist his affiliated organizations with their website multimedia efforts, such as the Military Order of World Wars, Atlanta, Sons of the American Revolution, Sons of Confederate Veterans , Assoc. for Intelligence Officers, the Navy League, Georgia Heritage Council, National Memorial Assoc.of Georgia.

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