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PPI Reclaiming Discussion Part 5
Comments
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Hi can someone tell me, if I make a PPI claim on a current insurance policy, will that insurance policy be cancelled?0
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Hi can someone tell me, if I make a PPI claim on a current insurance policy, will that insurance policy be cancelled?
Claim or complaint?
If complaint, then yes, it will cancel the policy because the complaint is about you not wanting the policy for whatever reason.
If you want the insurance then why would you be complaining about it?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Hey guys wondering if anyone can help me out. I am currently going through a PPI claim.
I had a PPI policy on an RBS mortgage back in 2001. The PPI was £25 per month. The mortgage term was 25 years but we only paid the mortgage for 2 years as we sold and moved house.
How would any compensation be calculated and what would be the rough amount we could expect back?
Thanks in Advance.0 -
How would any compensation be calculated and what would be the rough amount we could expect back?
Statistically, the odds are you are not going to get anything as most MPPI complaints fail. Mortgages are very different to loan and credit cards. Only a minority of MPPI complaints succeed.
However, if your complaint does succeed, then it would be the premium you paid plus interest at 8% simple.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
the insurance is fine its the PPI that was added whilst I was on maternity leave with no intention of returning to work for some time that is the problem.0
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yes , I would not have asked for it as I knew I had no income to protect, I had other means to pay insurance, It was only when I looked at the annual statement that I realised they had added PPI, I have not complained as 8 years on the cost of insurance will be higher, so hence the question I don't want to cancel my insurance but I don't want the PPI0
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Are you also saying that there is PPI on your insurance? PPI is in fact a form of insurance, you understand?yes , I would not have asked for it as I knew I had no income to protect,
It's a claim company myth that PPI was routinely added without the knowledge and permission of the customer. Isn't it possible that you've simply forgotten agreeing to it? You can expect your provider to have evidence that you did agree to it eight years ago..
Please detail exactly what finance and/or insurance this pertains to..0 -
this was a policy I already had, I went into branch to make changes and it was them that the PPI was added and no it was not mentioned and certainly not asked for0
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It is a life insurance and we, I was with my partner, made changes to increase cover0
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