Actions

  Print Article
  BookMark Article

Categories    Category List

  Advice
  Aging
Arts
  Arts And Crafts
  Ask An Expert
  Automotive
  Banking
  Break-up
  Budgeting
Business
  Business Management
  Cancer Survival
  Career
Cars And Trucks
  Casinos
  Causes And Organizations
  Cell Phones
  Cheating
  College And University
Computers
  Computers And Technology
Cooking
Crafts & Hobbies
  Culture
Culture And Society
Current Affairs
  Dating And Relationships
  Death
Disease & Illness
  Domain Names
  Drop Shipping
  E-Commerce
  Electronics
Entertainment
  Environment
  Etiquette
  Ezines And Newsletters
  Family Concerns
Fashion
  Fiction
Finance
  Finances
  Financial Planning
  Food And Drinks
  Forums
  Gadgets And Gizmos
  Gambling
Gardening
Health & Fitness
Home
Home & Family
  Home Business
  Home Improvement
  Home Management
  Human Resources
  Import Export
  Infants And Toddlers
  Innovation
  Inspirational
  Insurance
  Intellectual Property
Internet
Internet Business
  Jobs
  K-12
  Medical Business
  Medicines And Remedies
Men Only
  Motivational
Motorcycles
  Nature
  Opinions
Our Pets
  Personal Development
  Pets And Animals
  Podcasting
  Pregnancy And Family Pla
  Presentation
Product Reviews
  Quotes
  Recreation
Recreation & Sports
  Recreation And Leisure
Reference & Education
Relationship
  Religion And Spiritualit
  Screenplay
  Search Engines
  Self Help
Self Improvement
  Selling
  Shopping
  Short Stories
  Society
  Speaking
  Sports
  Structured Settlements
  Supplements And Vitamins
  Team Building
  Technology
  Telecommuting
  Telesales
  Television
  Tools & Resources
  Travel
Travel & Leisure
  Video
  Web Development
Weddings
  Wellness, Fitness And Di
  Womens Interest
  Work Life Balance
  World Affairs
Writing & Speaking

Online Now    Online Now

Guests Online (132)

Baiduspider (2)

Bing (3)

Googlebot/2.1 (2)

WebCrawler (2)

Yandex (Russia) (1)

Googlebot/2.1 (1)

Bing (1)

Baiduspider (1)

Author Login    Author Login

Welcome Guest! Please login or create an account.

Username:

Password:



If you do not have an account yet, you can register ( Here ), or you may retrieve a lost user/pass ( Here ).

Navigation    Navigation

   10 newest articles RSS

Author Highlights    Featured Author

Andrue Hunnter
Bradford

View My Bio & Articles


James Claypool
West Chicago

View My Bio & Articles


Colleen Weathersen
East Los Angeles

View My Bio & Articles


DisclosureDisclosure

You should assume that the owner of this website is an affiliate for the provider of goods/services mentioned on this website. Sometimes the owner may get paid a commission if you purchase the product when following a link.

PPI Policies Are Better When Bought As A Stand-alone Policy

Author : Yossarian Smythe

Submitted : 2010-06-28 00:22:02    Word Count : 626    Popularity:   44

Tags:   PPI, PPI Claims, PPI Reclaim, Miss Sold, Claim back credit card, Debt, Mortgages, Store Cards, Loans

Author RSS Feed   Author RSS Feed

Remember the last time you were sold something by a customer care representative of your credit card over the phone? The answer is probably a no. This is because most of us are too busy or occupied to even notice that we are being charged for something that may not be needed after all. This holds true with certain banks that attract us with additional offers on our loans that might claim to be beneficial for us. It might be truly advantageous, you never know, but the real question is, are you getting back a substantial worth for your money?

So here is this particular insurance policy that claims to cover all your debts in cases of financial emergency like sudden unemployment, sickness or accidents. It is called the Payment Protection Insurance (PPI) policy. It sounds good that you have an option of this form for those unseen circumstances of your life. You may think that the bank offering the loan is well concerned about your convenience and offers you something like this alongside the loan so that you do not need to go through the hassle of finding stand-alone policies of the same kind. You might think that your work is made easy since the bank itself handles your insurance along with the loan payments.

Unfortunately, this is not the case in most scenarios, since it has been found that most of the banks offering this PPI plan seem to earn significant profits both for the loan provider and as commissions for agents who sell them. Most often than not, the customer is missold the PPI with insufficient exchange of information eventually leading to a lot of confusions and disappointments at the actual time of claiming the cover. Sometimes the customers are sold this as a part of the loan at the start by declaring dubious claims like the PPI’s would help the customer acquire lower interest rates on their loan. It is portrayed to the customers that the PPI is a significant part of the loan that is a necessity and thus sold to millions of customers. The ratio of the people who actually might have a use for this policy is too less. People who are unemployed, self-employed, retired or having a pre-existing medical condition are not liable to use this policy and yet these people are also sold the policy without a proper means of communication on the part of the bank.

Although, the government has posed a ban on the selling of these policies via the lending institutions on their loans there are about 20 million active PPI policies among the many customers in the UK. If you are one among them then you must consider going for a PPI reclaim. PPI reclaim may involve the loss of the insurance policy from your loan so you may need to scrutinize whether you really need this PPI policy or not. The policy is not a total waste of money but the rates at which they are offered by the banks can be avoided if you can get away with having the policy cancelled and opt for a stand-alone policy that might cost you one-third the cost of the original PPI. Research on the best offer on stand-along payment protection policies that may also give you the freedom to choose from either a short term or long term version and various other factors rather than being curtailed to use the exorbitantly priced PPI policy of the bank.

Author's Resource Box

The author of this article knows all about PPI and has written many articles on PPI Claims. And the author has an excellent knowledge in PPI Reclaim and has been in finance sector for years.

Article Source:
www.1ArticleWorld.com

 

  Report Article
Badly Written Offensive Content Spam
Bad Author Links Mis-spellings Bad Formatting
Bad Author Photo Good Article!