PPI Claims: Certain Points to Consider
PPI or Payment Protection Insurance continues to be an issue for the past years. Nowadays, banks and insurance providers are examining and currently enhancing the process of claiming for Payment Protection Insurance.
At this time, before we continue on how to get PPI claims, let us first talk about what is PPI for starters. Payment Protection Insurance (PPI) is an insurance coverage which is specifically designed to help a person maintain their loan or settlement of their cards in cases when the person (who applies for PPI) can't pay it due to an incident, unemployment or hospitalization.
Today, you can find a lot of people requesting for PPI claims but unfortunately most of them were unable to get one. It is because most people who request for PPI have not look into the conditions and terms in it carefully. In connection, if you're going to get a PPI claim, it is important that you assess first your personal condition or circumstances to determine if you qualify for a claim. Below are some essential things that you have to take into account before asking for a PPI claim.
Your age when the PPI coverage was sold PPI plans can only be sold to individuals who are within the age of 18 and 65. So if in the beginning you had applied for PPI when you're younger that 18, then you can go and get a legitimate claim for missold PPI. Also, you can find PPI policies which have an upper age threshold in which the claim could not be made provided that you haven't reached that age limit. In the event that you surpassed the threshold, then you PPI would be ineffective. Therefore make sure you check out your insurance plan.