Is this PPI cover worth having

mackster

Good evening - could anyone give me some advice

My husband has a credit card with Citi Cards taken out back in 2005.

He is classed as self employed as he pays his own tax and NI but doesnt secure his own work as he works via a company. Towards the end of last year this company had a lack of work and therefore my husband was 'laid off'. We asked for a claim form from Citi Cards to make a claim but unfortunately due to my Mother being diagnosed with Stomach Cancer, this claim was never made.

However on reading the policy document I found the following clause

under section 8 Involuntary Unemployment Benefit,

‘If you are Self Employed at the Start Date or become Self Employed during the Cover Period, cover applied in the event of bankruptcy, liquidation or official termination of Self Employed status due to failure of business. Temporary cessation of trading or periods of umployment due to shortage of Work are not covered. Evident of cessation must be provided.’

This would imply that we wouldnt have been able to claim anyone - is it therefore worth our while in cancelling the insurance totally - we have other means of being able to repay this debt and then making a claim for mis sold PPI Insurance.

di3004

mackster wrote: »

Good evening - could anyone give me some advice
Good evening.;)

My husband has a credit card with Citi Cards taken out back in 2005.

He is classed as self employed as he pays his own tax and NI but doesnt secure his own work as he works via a company. Towards the end of last year this company had a lack of work and therefore my husband was 'laid off'. We asked for a claim form from Citi Cards to make a claim but unfortunately due to my Mother being diagnosed with Stomach Cancer, this claim was never made.It seems you may have a possible case here then.

However on reading the policy document I found the following clause

under section 8 Involuntary Unemployment Benefit,

‘If you are Self Employed at the Start Date or become Self Employed during the Cover Period, cover applied in the event of bankruptcy, liquidation or official termination of Self Employed status due to failure of business. Temporary cessation of trading or periods of umployment due to shortage of Work are not covered. Evident of cessation must be provided.’

This would imply that we wouldnt have been able to claim anyone - is it therefore worth our while in cancelling the insurance totally - we have other means of being able to repay this debt and then making a claim for mis sold PPI Insurance.

You can cancel if you want to, or wait until they resolve this where if successful they would have to refund all the PPI paid etc.

With your reasons, write to them, they have 8 weeks in full to respond, you need to keep on at them until they resolve or until they issue you with the final decision which should also enclose details of the financial ombudsman service (FOS), you can take your complaint to them if your not happy with the outcome.

You do not have to write the amount in the letter, but I would suggest that you post by recorded delivery, this would be your proof of posting.

For more info with a checklist of mis selling reasons, templates etc see link below, if you also find anything else in the mis selling checklist that occurs to you then write them as well, however you do not have to use the templates if you don't want to, just as a guide with your own words will be fine.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Good luck, please keep us posted and ask for further help if required.;)

mackster

Thank you for your very prompt reply - a letter will be in the post tomorrow - will keep you informed as to what the outcome is.

Have a good weekend

marshallka

mackster wrote: »

Good evening - could anyone give me some advice

My husband has a credit card with Citi Cards taken out back in 2005.

He is classed as self employed as he pays his own tax and NI but doesnt secure his own work as he works via a company. Towards the end of last year this company had a lack of work and therefore my husband was 'laid off'. We asked for a claim form from Citi Cards to make a claim but unfortunately due to my Mother being diagnosed with Stomach Cancer, this claim was never made.

However on reading the policy document I found the following clause

under section 8 Involuntary Unemployment Benefit,

‘If you are Self Employed at the Start Date or become Self Employed during the Cover Period, cover applied in the event of bankruptcy, liquidation or official termination of Self Employed status due to failure of business. Temporary cessation of trading or periods of umployment due to shortage of Work are not covered. Evident of cessation must be provided.’

This would imply that we wouldnt have been able to claim anyone - is it therefore worth our while in cancelling the insurance totally - we have other means of being able to repay this debt and then making a claim for mis sold PPI Insurance.

Have you made sure your husband was not actually eligible for a claim? Sometimes with self employment as long as you pay class 2 NI contributions you are eligible to make a claim.

di3004

mackster wrote: »

Thank you for your very prompt reply - a letter will be in the post tomorrow - will keep you informed as to what the outcome is.

Have a good weekend

Your very welcome.
Good luck with this and we look forward to hearing the outcome.
And please post up for any help when required.;)

You too have a fab weekend.:beer: