Personal Accident Insurance - PPI in another name?

Dannyh1

Hi,

I have just come of the phone to Welcome Finance asking them for copy of my credit agreement.

When asked why, I said so I could try & claim back my PPI payments.

I was then told that i do not have PPI on my account, but Personal Accident Insurance.

Does anyone know if Personal Accident Insurance can be claimed back in a similar way to PPI?

Many thanks

marshallka

Personal accident usually covers for accidental death. Are you sure you would not want this? Was it a single premium or a monthly charge or even a one off charge?

dunstonh

PAP is not PPI.

You can complain about any product you like if you have a valid reason for complaint. Remember its not whether you have the product that is the issue. There is absolutely nothing wrong with having PPI or PAP. It is how it was sold and set up that matter.

So, if you have a complaint, then you make it.

Dannyh1

Thanks for replies.

I'm not sure what the details are yet - I've been assured credit agreement will be sent out today.

Beleive me, this is not something I would have asked for.

Like most mugs who have gone with the likes of Welcome, I was desperate for dosh at the time of taking out loan - you sign where you're told you need to sign!

Dannyh1

Hi,

Finally received contract from Welcome Finance.

I can see that I have actually ticked a box saying Personal Accident Protection! (Idiot!). £195 @ 42% for 3yrs.

I'm sure they must have said this was must as this is something I just would not be interested in off my own back. Obviously I won't be able to proove this.

Is it likely they will refund this?

Many Thanks
Danny.

dunstonh

I can see that I have actually ticked a box saying Personal Accident Protection! (Idiot!). £195 @ 42% for 3yrs.

I'm sure they must have said this was must as this is something I just would not be interested in off my own back. Obviously I won't be able to proove this.

Is it likely they will refund this?

Depends on what your complaint reason is. Obviously you selecting it eliminates any complaint on that front. However, what would your other complaint reasons be?

Was the PPI taken as a single premium and charged interest or paid monthly?

pokerking1

claim it back plus 8% and any other charges use same reasons as for ppi, didnt want, need, or ask for it ect. Remember the nice sales person telling you without insurances it would be unlikely that you would get the loan?

dunstonh

pokerking1 wrote: »

claim it back plus 8% and any other charges use same reasons as for ppi, didnt want, need, or ask for it ect. Remember the nice sales person telling you without insurances it would be unlikely that you would get the loan?

He has said he selected it. So, if you didnt want it why was it selected? If that is the only complaint reason then it would be very easy for them to reject it as the evidence shows otherwise.

Remember that there is nothing wrong with having PPI. It is how it was sold and set up that matters.

Verbal accusations tend to only work if there is another failing in the complaint. Documentary evidence trumps verbal unproven accusation.

Dannyh1

Hi,

I can't remember the conversation with the guy in the office, but I honestly wouldn't have chosen to pay £195 for a potential accident if it hadn't been pushed!

The amount was added to the value of my loan, so i have been paying it off monthly.

I suppose i can give it ago as it will only cost me the price of a stamp or 2.

Thanks.

IANC

Personal accident insurance is actually a valid insurance unlike PPI.

If they didn't explain what it was, by all means try and claim it back.

Chances are, you would be able to make a claim on the policy if you had an accident or illness that prevented you from working.

Excludes accidents whilst drunk though :rotfl:(seriously)