PPI claims have been the talk of the country for the past several years, with consumers having realised that the insurance policy offered to them was such a scam. A lot of these credit consumers have started lining up the offices of their lenders to reclaim the money they paid to PPI. They were either shocked to have realised that they were signed up to an optional policy or angered by having learnt that the truth was hidden from them when it was being sold.
Financial institutions seemed to have found a lot of ways to just shove the insurance policy right down their customers’ throats without any knowledge to what it’s all about.
Since this discovery, the High Court ruled that all proven mis-sold PPI payments should be returned to consumers. To date, millions of pounds have already been claimed while others are still awaiting results. Some of them made PPI claims on their own while others sought the help of professional claims advisers.
There are certain circumstances in which you should not have been persuaded to have taken out the PPI policy in the first place. This needs to be established through a thorough discussion with a claims expert. The discussion may need you to recall a few situations and answer questions to find out if you are eligible for a claim.
The general concept of determining your eligibility to reclaim your PPI principal and interest charges would be to prove a solid statement that there are certain processes and limitations that you have not been made aware of at the time that you were taking out the Payment Protection Insurance.
Unemployment, working in a family business, retirement, age limit, medical history, and changes in employment status are general situations wherein a claim to the policy may be deemed ineligible. If you had not been made aware of these limitations, then you might be able to carry on the process of reclaiming what you should not have been paying for.
If any of these happened to you, you might want to make a claim for yourself and find out how much the bank owes you this time on reimbursement of the insurance premium and the interest it has incurred from when you signed up to it.
Write to your bank and tell them how PPI was mis-sold to you. Tell them of the circumstances that took place and the information you were and were not told during the sale process. As soon as they receive your letter, the bank will have to do an investigation and prove your claim within 6 or 8 weeks, or maybe even longer if the case seems to be a bit more complex than the usual. Nonetheless, you’ll be advised of such.
Remember to attach as much evidence as you can. Look through you files and find references to PPI from you statements, loan agreements and other related paperwork. The bank will have to refer to it during the PPI claims review together with your account information in their database.
If your bank fails to give you a decision within the prescribed time, or they told you otherwise, you can still take the matter up to a higher office for futher review. PPI claims and complaints are expertly handled by the Financial Ombudsman Service for free. They can help you review the case once more and make further enquiries with your bank if you file a formal complaint. Then they will decide whether to uphold it or not.
If you firmly believe that there was a mis-selling of PPI on your end. Do not hesitate to make a claim. When successful, you’d be surprised at how much the bank owes you this time. You might be able to keep up with the hard financial times and even pay your debts in full as soon as you get your money back.
When it comes to trying to save money on life insurance, one of the first things you’ll try to do would have to be to get the cheapest policy. However, not all life insurance policies are created equal. This means that the cheap policy you saw splashed around might not give you the coverage that you’re ultimately looking for. Life insurance is a matter of risk management, so the cheap policies may not cover as much as you were expecting. Insurance companies know that, but they don’t always communicate that to bargain hunters.
What you will need to do is look at the process of getting life insurance and approach it from a more strategic approach. There’s nothing that should be stopping you from getting things together, as long as you’re not impatient. Rushing through the world of life insurance ultimately leads to getting the wrong thing, time after tie. You’re are far better off making sure that you’re looking at the ins and outs of life insurance policies.
You can do this primarily through life insurance quotes. You will need to make sure that you’re entering in honest and accurate information, as a failure to do anything else would mean that you just aren’t going to be able to get anything accurate out of the experience. Besides, insurance companies check for things like that, so it’s possible to go overboard and not be able to get coverage at all. You want to make sure that you enter the truth — you’ll get a good deal so there’s nothing to worry about.
Be sure that if you have any questions that are for the insurance company…get them out immediately. In other words, don’t be afraid to ask for the best answers possible. Life insurance is too important not to be taken seriously.
You’ll feel relieved once your policy is active. If there’s a waiting period, you’ll find out within the terms and conditions section. You just need to make sure that you really are getting this information out as soon as possible. Otherwise, you’re going to end up wishing that you had started sooner working on the top goal of watching out for your family’s needs. Good luck!