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Which PPI is Best

Payment protection insurance has gotten a lot of bad press lately but people are still asking, "Which PPI is best?" The reason why PPI has gotten such a bad name is simply because in many cases it can be overpriced and has a high number od exemptions.  Too many lenders have potentially mis-sold this cover and as a result there are tens of thousands of PPI claims waiting to be reviewed.

Which PPI Is All the Talk About?

There are good PPI policies on the market, but finding them can take some research. Far too many of them exclude too many people and cost altogether more than they are worth. If some of these payment protection insurance were offered in a more direct way to consumers they would understand that paying between 20 and 60% the amount of your loan to make a few payments if you suddenly lose your job or become to ill to work just does not make financial sense! If you were borrowing £100,000 toward a mortgage loan and asked to pay £50,000 on PPI, wouldn't it be better to put that money away for the possibility of losing your job? It could be earning interest for you while it sits there but instead it is sitting at your lender whilst you pay interest on it! That doesn't sound like an answer someone would like when asking "Which PPI is best?" The good news is, if you took out a PPI policy and your lender failed to fully explain the costs you may be entitled to make a claim for mis-selling.

Which PPI Scandal

With more than 20 million PPI policies active in the UK, you can imagine how many consumers may have been mis-sold. As a consequence, record numbers of people are filing for a PPI reclaim. A good PPI claim company can help you file a claim once it has been determined just how your lender mis sold PPI to you. There are a number of reasons but most often it is because they either put it on your loan without your knowledge or consent or they implied your loan was contingent upon purchasing this cover.

Be aware of the fact that you can file a claim against your lender if you were mis sold PPI and if it is determined that this is the case you could be entitled to a refund equal to every pound you spent. A good PPI claims company can help you get back that money that is rightfully yours.

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