Sometimes, you find yourself with a Payment Protection Insurance (PPI) that you are unaware about. An unplanned PPI can make your finances suffer. If you made an agreement with a lender under the following terms, you should think about making a claim
Your lender sold you a PPI when your age was not right
Only people over 18 years old and under 65 years old are eligible for a PPI agreement. People who are not between this age range when they signed for a PPI are eligible for a PPI claim. The maximum range for a PPI is not constant for all lenders. Some PPI policies have an age limit that is higher than 65. If this is the policy, you can only claim for a PPI on the date you exceeded the age stated in the agreement.
Your employment status when signing up for a PPI
If you were unemployed, self employed, on a temporary job, working on a contract and working for a maximum of i6 hours a week, your PPI claim is likely to be very successful. The PPI claims on these terms has grounds has no real meaning. If you are already unemployed or have a low paying job at the time of application, you should not have been eligible for a PPI. If your job is not permanent, you and the lender already knew you were going to be unemployed in a short while so there was no reason for a PPI.
Some people with pre-existing medical conditions have successfully made the claim
Most insurance policies do not approve converges for people with a pre-existing medical condition. Let’s say you took a PPI policy knowing you have a pre-existing medical condition, making the claim will all depend on the lender’s knowledge of the illness. People who informed the creditor of their medical condition before hand have had success reclaiming their PPI. If you did not inform the service provider, they have reason to argue that they had no information of the incident.
People with absolutely no information of the PPI policy have had some clams approved
Some service providers will make you think you have to apply for the PPI in order to qualify for a loan. Taking a PPI is independent and should not be a condition for taking any kind of loans. It should not been anyway related to the loan you are applying for. There are some successful PPI claims for people who were made to feel that PPI application was mandatory.
If the creditor did not provide you with the details of the PPI policy you should be eligible for a PPI claim. They are supposed to give you a documentation of all the charges and payments you are supposed to make.
Lenders should not make you apply for a PPI if you have an alternative insurance covers. A PPI has terms close to life insurance and income insurance. If the PPI does not provide any additional benefit, you will be eligible for a claim.
If you signed up for a PPI for any of the above reasons, you have a right to get a claim form your lender or creditor. Ensure you seek help from a professional to get information on the process involved.