All about Payment Protection Insurance and Why You Should Have It

By: Nik Jones


When dealing with debt and loan programs, both the client's and the lender's interests are protected. Payment protection insurance is one way of ensuring repayment in the event of non ability of the client to adhere to the payment plan. The insurance usually comes in the form of an add-on to the finance. In some cases, it may act as a stand-alone payment protection policy from an insurance company. It covers the borrower from accidents, unemployment, death, and other instances that may prevent him from paying the loan.

Payment protection insurance is often included with mortgages, loans and credit cards. One of the greatest benefits that PPI can offer is the peace of mind among consumers who are uncertain about their ability to repay.

Who can provide Payment Protection Insurance?

Any reputable insurance provider can help you with providing PPI. Though there are lenders and credit card companies that offer the insurance along with the finance they provide, you don't have to purchase them since it may not cover what you need. A common tactic is for companies to make PPI as a pre-requisite to get a loan or a mortgage regardless of the client's eligibility.

Choosing a Claims Management Company

If you have taken out a finance agreement in the last ten years you may have purchased PPI without even knowing it. If this is the case you could be entitled to refund and a professional claims management company can help. Before you select one be sure to know about hidden charges and "no win, no fee" features.

Choose a PPI Refund company that has a real concern towards their clients. This means that no upfront fees are needed and payment is done only after you've been compensated. Moreover, the companies should remain realistic about their quotes and will get you informed about the progress of your claim.

Avoid companies that do not assess your suitability to make a claim. Mis-selling of PPI is a rampant propaganda among lenders and claims management companies that draws in clients to a financial deal they could not afford.

Determine your eligibility for PPI refund by contacting a reliable claims management company.

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Nik Jones is a writer at PPI Refund is a leading PPI Refund services providing company. For no win no fee PPI Refund visit at: www.ppirefund4me.co.uk

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