PPI-Primarily-Helps-In-Case-Of-Some-Unexpected-Acc65

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PPI-Primarily-Helps-In-Case-Of-Some-Unexpected-Acc65

  1. 1. PPI primarily helps in case of some unexpected accident, loss of job or crucial illness that makes it impossible for the customer to pay their loan instalments. By paying a little extra on top of the monthly premiums, there is the security that should they become unable to make theirpayments, the PPI will cover the payments.ppi
  2. 2. Unfortunately, a large number of these policies were mis-soldMis-selling of PPI occurs when financial institutions do not adhere tothe regulations when selling PPI to customers
  3. 3. Some dishonest sales people pressured their customers topurchase policy telling them it was obligatory when it was in realityoptional
  4. 4. A Policy is considered to be mis-sold if customer didn’tunderstand what they were buying or they didn’t want theinsurance and they didn’t need the insurance
  5. 5. In cases where PPI was added to the loan at the outset, manyhave ended up paying interest on top of these premiums, which canvastly increase the amount he pays for
  6. 6. If any of these cases arise, the customer is eligible for compensation
  7. 7. If you’re not sure if you ppi are paying for PPI, check yourcredit card statements or loan agreement as it will usually be detailedon there
  8. 8. If you are still not sure, you can call your loan provider and ask themdirectly whether or not you have PPI or had PPI attached to yourloan
  9. 9. ppi

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