Payment Protection Insurance was sold to many in conjunction with a variety of loans, including credit cards and mortgages. The insurance policy is designed to cover your repayments sometimes a percentage due to circumstances such as illness, accidents or redundancy.
However, within your agreement, there may be overlooked factors that could mean that you’re not actually eligible to receive monies from your policy
Do I pay for PPI?
If you have taken out a loan, mortgage or credit card you may have a PPI policy in place whether you are aware of it or not, as sometimes this was added automatically
Check your loan agreement to identify if you have a PPI policy added. Some PPI was sold as single premium full amount upfront otherwise you may find that it appears on your loan statement if you have a monthly premium. Don’t worry if you can’t find your agreement as we can request this on your behalf.
You can also read more about useful steps you can use to improve your finances.