Despite all of the success stories where people across the country have successfully claimed a PPI refund from the banks many people are still not claiming because they think they agreed to the policy fair and square.
As the PPI scandal grew and it became a bigger target for the Financial Services Authority the aggressive mis-selling of PPI policies slowed down and banks became more cautious about how they were selling it to people.
Worthless PPI policies should still be refunded
However just because you agreed to the terms and conditions does not mean that the policy was mis-sold. In many cases, even where you think that the policy covered you against loss of earnings or sickness you would have been in for a nasty surprise if you tried to claim.
Many sellers neglect to ask about your employment status at the point of sale and most PPI policies do not cover people who are self-employed unless you go bankrupt. If you are a contractor or work for a temp agency you would not be able to claim. If either of these situations apply to you then your cover was useless and most likely mis-sold.
Mis-selling of sickness protection cover
Many people who have sickness cover included in their PPI policy do not need it because their job already had excellent sick pay conditions. In this situation the lender really should have offered you a cheaper policy that excluded the sickness cover element.
If you can show that you would be able to repay the loan with existing resources when ill or if you were not asked about your medical history and warned of any circumstances where you would be unable to claim, you have a right to complain.
Even more exclusions from PPI policies
Your policy is also probably not worth anything if you have retired and most banks or insurance companies will also refuse to pay out in the months leading up to retirement. Students are also ineligible to make a claim and are common victims of bundled PPI cover that is of no good to them.
It gets even more complicated if you work for a family company, the lender would most probably argue that you are technically self-employed and refuse to pay out on a claim.
How to make a PPI claim
So there are a whole host of situations where you can claim a refund against a PPI policy but it can still be a daunting task to undertake. The PPI Team can argue your case for you and draw on our experience of completing successful claims to make sure that you receive the money that’s owed to you.
Call us today on 0800 849 8060 and speak to an expert about your PPI claim