There are millions and millions of mis-sold policies, search your kitty- was yours one of them?
The finance firms and advisers should follow a benchmark in selling payment protection insurance (PPI) policies – but research makes it clear that over a million PPI policies have been mis-sold.
Check the list out of Mis-selling PPI policies.
There has to be a ‘no’ for atleast one of them from you to be in the queue of mis-sold PPI.
Was that made clear to you, of the cover being optional?
Did the adviser tell you anytime during the borrowing of loan that the cover is optional?
Were you made aware by the adviser about any significant exclusions under the policy
Was the insurance upfront fees singled out by the adviser, when you took out a loan or finance agreement?
Did the adviser make it clear that if you had to pay for the PPI as a single payment, then the insurance cost be added to the loan and you would be paying interest on it?
It is 5 years that a single premium PPI insurance normally lasts. Was it made clear to you in the agreement by the adviser that, the insurance can run out before you pay your loan, if your loan or finance agreement was for longer than this?
It is the duty of the adviser to tell you that you would continue to pay interest on the insurance premium, even after the insurance expired and guide you than to tag a missold PPI to your loan agreement.
