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PPI Claim News - 6/1/2010

 
Customers warned to avoid PPI rip-offs

Consumer journalist Neil Faulkner of Lovemoney.com has warned customers of the high cost of payment protection insurance (PPI) policies.

Having conducted research into PPI, he found that some policies offered a "staggeringly bad" claims ratio, which reflects how much of the money paid in premiums is paid out in claims.

PPI scored lowest, with a claims ratio of just 19 per cent, compared to life insurance which was found to have a claims ratio of 160 per cent.

So, for every pound paid in premiums on PPI, just 19 pence is paid out following claims, the website's research found.

PPI policies have also come in for criticism for mis-selling, with some policies failing to provide proper coverage to those purchasing them.

Last month, the Independent covered the story of an elderly man who was mis-sold PPI, who was not covered by the policy he was sold and faced difficulty in reclaiming the interest on his PPI payments.

Belmont Thornton can help you make a PPI claim – Payment Protection Insurance Claim, or a credit card charges claim. For free PPI Claim advice call 0845 526 0000 or fill in the Quick Claim box to be sent a PPI Claim pack or credit card charges claim pack.ADNFCR-2776-ID-19542977-ADNFCR



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