PPI Igroup

MILLET

I am relatively new looking at ppi and wondered could anyone help me.
My oh and I took out a loan with Igroup in 2006, now GE. I came across some of the paperwork and was wondering whether my oh had a case for missold ppi.

Firstly oh took out ppi in his name only on loan. Although it does not say anything about pre existing medical conditions, just a paragraph about authorising medical records to be made available if a claim is made, am I right in thinking that oh would not be covered as he has type 1 diabetes, hypertension and heart problems as well as a frighteningly high cholestral level and he is as blind as a bat. (Wears contact lenses and glasses at the same time).

Secondly I noticed that the policy is no longer in force as it was for 5 years only although the term of the loan ran for 20 years and it appears we are still paying for an insurance policy that is no longer valid.

The Credit Agreement states
A. Amount of credit released to you £xxxxx.xx
B. Amount of credit for ppi £xxxx.xx
C. Total amount of credit (A+B) £xxxxx.xx
D. Duration of the agreement 240months

It then goes on to state

H. Cash price for payment protection insurance £xxxx.xx

I. Total charge for credit consisting of

Interest £XXXXX.XX
Brokers fees
Application costs
Total £xxxxx.xx

Is this the correct way that interest should be added to PPI. Seems very odd that we will be paying off ppi 15 years after we could claim on it. If in fact we could have claimed if anything happened.

Thank you in advance to anyone who can point me in the right direction and if I haven't made anything clear please do not hesitate to ask.

dunstonh

am I right in thinking that oh would not be covered as he has type 1 diabetes, hypertension and heart problems as well as a frighteningly high cholestral level and he is as blind as a bat. (Wears contact lenses and glasses at the same time).

You cant assume. You would need to ask the insurer. In most cases, they refuse to offer cover in those areas or medical conditions that arise from those. However, unrelated medical issues and unemployment would still be covered. It really depends on the severity and insurer.

Is this the correct way that interest should be added to PPI.

Single premium PPI is nearly always considered bad. It should be set up as a monthly payment from your account.

A fairly easy complaint to make apart from the fact you have to make it to the broker that sold it to you.

MILLET

Didn't have a broker. Form came from I Group with the small print saying it was underwritten by Cigna Europe Insurance.