What Is Payment protection insurance PPI?
Payment protection insurance, or PPI, is coverage that providers sell in conjunction with loans, mortgages, credit cards and store cards. This coverage protects people in case they become injured or ill and cannot work. This insurance can be extremely beneficial to individuals, as they do not have to be concerned with how they will pay their bills if they lose their income. However, many providers miss-sold this coverage to people leading to many controversies concerning the insurance.
One example of providers miss-selling PPI is when they sell it to people without the people even realizing they had purchased it. Another way, that providers miss-sold PPI, is by selling it to persons whom would not have even been able to collect under such policies. These types of persons include unemployed persons, self-employed persons and persons who had pre-existing medical conditions at the time they took out the loans or credit cards. All of these examples gave rise to controversy concerning PPI, and today many people are filing claims to seek refunds for this insurance.
For More Information On PPI Go to PPI Freedom