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Reasons to Claim Back PPI
The providers of the credit products or the banks who provide loans to customers often
have made a fool of the people and tried to take advantage of their oblivion. Many people
are even unaware of the technical terms related to insurance unless and otherwise they are
told or made understood by some people or the providers of the credit products and loans.
These providers attach a PPI as an add-on to their credit products or the bank loans in the
form of payment cover or the protection cover. The people are unaware of the fact that
they have entitled with an insurance policy along with the loan or credit products and this
information are often not conveyed to the customers. However, on knowledge of the
insurance they can claim back PPI through proper channel.
The reasons for claiming the mis-sold PPI can be many but one should know that they are
being sold the PPI which is however an unknown fact to customers which makes it the main
reason to claim back PPI. It has been observed on major surveys that as many as 2 million
PPI policies have been mis-sold to customers who might never be able to make a claim.
People have to be aware of the grounds they could make a successful claim to the premium.
Most of the PPI policies have an upper age limit of 65-70 years. If one is older than the age
limit for the PPI policy then one can easily complain or make a claim for misselling PPI. Many
other similar reasons follow and the list is long.
Being aware if such reasons and grounds helps people immensely of their claims to such PPI
policies and help them reclaim for premium. One just have to go through a proper channel
and make a proper complain to the concerned authorities.