Mis-selling of Payment Protection Insurance (PPI) was one of the largest scandals to hit the insurance industry. It had a direct impact on the lives of thousands of people particularly those that took loans. In case you have been mis-sold PPI, the good news is that new rules and structures have been set to help you get your money back. However, the amount of money you get all depends on how you address this challenge. But let’s address the issue of eligibility before looking at the best way to go about claiming mis-sold PPI.
What makes you eligible for mis-sold PPI? Ideally, mis-sold PPI is a policy sold to someone that does not qualify for the benefits associated with this plan. This might someone that takes PPI without their consent, when you are unemployed but covered for loss of employment, or it could be that you are younger than 18 years or older than 65 years. In case some or most of these considerations apply to you, you should consider filling for a PPI claim.
How does one make a PPI claim?
One you confirm your eligibility status, the next step is to make it known to the insurance provider that you are making a claim. The best way to go about this is to formally write to them with you intentions clears and all the reasons that confirm that you have been mis-sold PPI. Moreover, you also need to have you account details and any statements with information about the payments you made. Ideally. These process can take anything between a few days to a couple of weeks before the insurance company, or the bank acknowledges or rejects the claim.
Ideally, the process of making a claim is not always straightforward and direct. As such, it can take up a significant amount of time considering that you also need to follow up on your application. If you do not have all the time to do this, you should consider working with ppi claims company to help you on this. You only need to provide the necessary account details and some personal info and leave the rest to them.
How to Avoid Mis-Selling
You might have been a victim of PPI misspelling in the past. With everyone talking about mis-sold PPI policies in the past, you have every reason to avoid PPI misselling. The best way to avoid this is by having everything in your policy document explained in simple terms. Moreover, you should look at the eligibility requirement and confirm whether or not this policy might be appropriate for you.