PPI Claims
PPI
PPI is a form of insurance that helps to cover payments of a loan that a borrower is unable to pay back, This is usually due to the person becoming very ill or losing their job. PPI is used to cover most types of borrowing and for nearly any amounts which may need to be paid back of course this can depend on the type of loan that you have.
For most types of loans and credit cards, it’s very unlikely that payment protection insurance (PPI) is compulsory, or even needed despite what any salesman may imply.
Most PPI Claims companies that provide loans (including home mortgages, hire purchase agreements and credit cards) Tend to also provide payment protection insurance (PPI). The lender usually asks the borrower if they would like any insurance when they take out a loan but sometimes may add it on without saying anything.