The importance of other insurances when reclaiming PPI?

vrghost

So decided to reclaim PPI on some loans and a credit card from Lloyds TSB, no problem so far, but no decision either.

Thing is, the loan was sorted in a quick interview, but they have now called about the credit card PPI about three times asking about all kinds of other insurances. Specifically medical, life and death in service, all three I had at the time from my employer.
I don't mind the questions, and answer them to the best of my ability, but I can't quite see what one has to do with the other, and the interviewer gave a blanket statement about determining my circumstances at the time.

Anyone who knows how the insurances are connected with PPI, and is it just the card it has an impact on, in which case, why?

[Deleted User]

If the Bank want to know further information relevant to your complaint I suggest you give it to them. If you don't know the answers then the best policy is honesty.

-taff

vrghost wrote: »

I can't quite see what one has to do with the other, and the interviewer gave a blanket statement about determining my circumstances at the time.

Anyone who knows how the insurances are connected with PPI, and is it just the card it has an impact on, in which case, why?

Because if you were covered elsewhere you wouldn't have needed the PPI. If you weren't, you would have.

vrghost

-taff wrote: »

Because if you were covered elsewhere you wouldn't have needed the PPI. If you weren't, you would have.

This is brilliant, so they sold me PPI when I was covered up over my head, even though I told them that I would be self employed a few months later, when I'm guessing I would not be covered, and forgetting to tell me its optional (as well as the fact that I would never be able to claim on it).

Lets hope that's how they see it, thought one reason would be enough though.

-taff

Your circumstances at the point of sale count, not a few months later, and they will have told you or it would have said in the literature that came with it, that it was optional and there was a cancellation period, you just don't remember. Neither do they have to tell you you can get it cheaper elsewhere.
Being covered elsewhere means your other insurances would cover you for that credit card debt, it doesn't include mortgage insurance etc.

dunstonh

pecifically medical, life and death in service, all three I had at the time from my employer.

None of those three overlap at all with most MPPI plans.

medical is about private medical healthcare provision. Life assurance and death insurance pays out on death. MPPI rarely has any provision for any of those.

Vfoh

It depends what your complaint was. If you said that you were recommended PPI in the meeting by the banker, then having insurances elsewhere, savings and anything else to meet payments is good reason to say you were mis-sold PPI because you never had any need for it. If you never spoke to a banker who recommended PPI, your other insurances become irrevelent.

[Deleted User]

Vfoh wrote: »

If you never spoke to a banker who recommended PPI, your other insurances become irrevelent.

They are irrelevant anyway, unless there is a significant overlap of cover. In the OP's case there was no such significant overlap as Dunston already pointed out...