mayfair

Here’s how you may have been unwittingly sold insurance you did not want or need.

Payment Protection Insurance (PPI) isn’t a bad product. It’s designed to meet repayments for a year in the event of accident, sickness or unemployment. The problem is the way in which it has been flogged.

If you are self-employed, unemployed, retired or have a pre-existing condition (or are covered elsewhere) you do not need these unnecessary policies. You may have been told when you took out the loan or took on the credit card that the insurance was compulsory ... it is not. That alone counts as mis-selling.

Mis-selling expensive PPI alongside a loan, credit or store card is the great unknown bank rip-off. Many people have already claimed back the money they paid for these worthless policies.

Get your money back

If you’ve got a loan, credit or store card, you urgently need to check whether insurance was included in the deal.

 
Answer yes to any of the following questions and you could be entitled to make a claim:

* Did you take out a Loan, Credit Card or Store Card before April 2007?

* Were you told at the time you were being sold insurance?

* Did you already have insurance cover?

* Was the insurance cover sold to you on a shorter term to the loan term?

* Were you self-employed, unemployed or retired at the time of being sold insurance?

* Were you sold the insurance over the phone or internet?

* Have you had poor medical history in the past?