Payment protection insurance is, for sure, the perfect idea in theory. However, when it comes to practice it can turn your life upside-down. Often, it has been found that the insurance cover left the people in heavy debt that too without a lifeline. Have you ever wondered why does it happen? How can you make sure that you can get the insurance when you need it the most?
Although it is relatively a simple concept but has came to the lime light because of all the wrong reasons. It is designed to protect the borrower against the loan amount that is taken. If a borrower is unable to pay back the borrowed money because loss of income or some other reason and you no longer are able to pay back leaned amount that you might need such a cover. Such a policy can be used for covering the person for the following reasons:
€ Sickness or health ailments that directly affects your working ability
€ Redundancy
€ Death
€ Accidents that leaves you on bed for a long time
€ Other several causes of unemployment
Usually, such insurance cover last for twelve months post redundancy, sickness, death or accident. Yet when majority of people file for the insurance claim they end finding that their claim is refuted by the bank or lender even when they have paid for it for several years.
Have you ever given it a thought why does it happen? This happens because you have been mis sold the insurance cover. Studies suggest that customers are sold the policy without having an idea of what exactly it is. This only indicates that policy people buy is, in most of the cases, inappropriate for the individual and thus when it comes to claiming it back in the event of redundancy or accident is denied. If the same has happened with you then you can apply for Payment Protection Insurance Claims.
Like other insurance cover varies from one policy to another so is the case with this policy. It cannot be the one solution for all sorts of problems. Each case is unique and seeks a level of understanding of what precisely is required and what will be rendered in case of unemployment.
Fortunately, things are getting better each passing day. With the introduction of new guidelines and stringent measures in place, such policies are no more being sold to candidates who do not deserve it. Meanwhile, if you think that you were sold the policy fraudulently then you are very much eligible to file for MIS Sold PPI Claims. Ensure that you scan through the documents carefully before getting started with the filing work.
You can consider seeking help from professional claims Management Company while filing for Payment Protection Insurance Claims and get your hard earned money back. It is strongly suggested that instead of getting trapped into a situation where you have to file for MIS Sold PPI Claims, be cautious at the time of buying PPI.
Although it is relatively a simple concept but has came to the lime light because of all the wrong reasons. It is designed to protect the borrower against the loan amount that is taken. If a borrower is unable to pay back the borrowed money because loss of income or some other reason and you no longer are able to pay back leaned amount that you might need such a cover. Such a policy can be used for covering the person for the following reasons:
€ Sickness or health ailments that directly affects your working ability
€ Redundancy
€ Death
€ Accidents that leaves you on bed for a long time
€ Other several causes of unemployment
Usually, such insurance cover last for twelve months post redundancy, sickness, death or accident. Yet when majority of people file for the insurance claim they end finding that their claim is refuted by the bank or lender even when they have paid for it for several years.
Have you ever given it a thought why does it happen? This happens because you have been mis sold the insurance cover. Studies suggest that customers are sold the policy without having an idea of what exactly it is. This only indicates that policy people buy is, in most of the cases, inappropriate for the individual and thus when it comes to claiming it back in the event of redundancy or accident is denied. If the same has happened with you then you can apply for Payment Protection Insurance Claims.
Like other insurance cover varies from one policy to another so is the case with this policy. It cannot be the one solution for all sorts of problems. Each case is unique and seeks a level of understanding of what precisely is required and what will be rendered in case of unemployment.
Fortunately, things are getting better each passing day. With the introduction of new guidelines and stringent measures in place, such policies are no more being sold to candidates who do not deserve it. Meanwhile, if you think that you were sold the policy fraudulently then you are very much eligible to file for MIS Sold PPI Claims. Ensure that you scan through the documents carefully before getting started with the filing work.
You can consider seeking help from professional claims Management Company while filing for Payment Protection Insurance Claims and get your hard earned money back. It is strongly suggested that instead of getting trapped into a situation where you have to file for MIS Sold PPI Claims, be cautious at the time of buying PPI.