MIs Sold PPI Claims Guidelines
Payment protection insurance (PPI) policy is provided along with a credit card or a loan as per the agreement made while signing up. This policy is made in such a way that during any inconvenience like accidents or illness or unemployment, this protection can help you in more than one way.
The ASU (Accident, sickness and unemployment coverage) or the loan protection is also known as PPI.
There are certain guidelines that the banks, brokers and financial institutions follow while selling the PPI to you. However, there are cases of misrepresentation and mis sold PPI, though they can be claimed under proper guidelines.
Most of you are unaware of the PPI that comes as add on to the loans or credit that you take. Ensure proper read of the fine print to avoid the smallest details escaping from your notice.
In case of loans, the premium is might be shown on the loan agreement statement as a lump sum amount of money. However, it is up to you to make sure you check whether the charges for the insurance are actually being added to your account every month.
In case you have a credit card loan with an activated PPI policy, you can easily start off with the claim today.