Ppi terms & conditions

Cpnhadock

I recently contacted capital one regarding a credit card account held between 1999 and 2008. There was ppi on this account and it states that the policy would be active unless a number of conditions were missed during its life.
The condition that drew my attention was if a monthly premium were missed.

I know that back in my younger days I frequently missed and had late payments on this account - can anyone confirm if I can claim from my first missed payment for any ppi premium paid thereafter?

It would seem odd that their own terms should state this and yet they never cancelled the policy?

Many thanks!

-taff

I'd imagine it means that if the premium for that month had not have been paid, it therefore couldn't be used to claim. You need to clarify that point.

[Deleted User]

-taff wrote: »

I'd imagine it means that if the premium for that month had not have been paid, it therefore couldn't be used to claim. You need to clarify that point.

I think it means if a payment was missed and never paid as the policy would then be in arrears.

-taff

I'm not even going to say it....:p

Cpnhadock

Thanks all - it is section 5 in their ppi terms 'how long does your protection last'

"Your protection starts on the starting date and ends on the earliest of the following
-the date of your death, accidental or date of diagnosis of your permanent disability
-in the event that the principal card holder is diagnosed with critical illness, cover will continue up until the date of death of the principal card holder
-when you become 65 in respect of life & critical health benefits
-the date when you become 65 years old or when you retire, if before then, in respect of disability or unemployment benefits
-the date when you become 70 in respect of accidental death, permanent disability and unemployment benefits
-The date you default in satisfying any obligation under the agreement
-THE DATE ON WHICH YOU FaIL TO PAY ANY MONTHLY PAYMENT WHEN IT IS DUE

And a couple more.... What do you think... Seems pretty clear to me...

Thanks!

Cpnhadock

Please do..... I am really curious about this query

[Deleted User]

Cpnhadock wrote: »

Please do..... I am really curious about this query

It was a joke between us about us both saying the same thing but differently (as on other threads)
Your query is answered already...

Cpnhadock

Moneyineptitude wrote: »

It was a joke between us about us both saying the same thing but differently.
Your query is answered already...

No worries... Did you see my further explanation? What do you think?

Many thanks!

[Deleted User]

Cpnhadock wrote: »

Did you see my further explanation? What do you think?

I think as long as you eventually paid any such arrears you would continue to be covered, otherwise it would be an incentive never to pay again...

Cpnhadock

Moneyineptitude wrote: »

I think as long as you eventually paid any such arrears you would continue to be covered, otherwise it would be an incentive never to pay again...

Fair point..... Although they do say at the start of the section that 'end on the earliest of the following' and I would argue that putting it as a condition alongside death etc is pretty conclusive?

[Deleted User]

Cpnhadock wrote: »

Fair point..... Although they do say at the start of the section that 'end on the earliest of the following' and I would argue that putting it as a condition alongside death etc is pretty conclusive?

As -taff said earlier, the only way to be absolutely certain is to clarify with the Bank...