Nationwide Mortgage PPI confusion

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Firstly i have tried to google and i think this just makes me more confused.

When i took out a mortgage in the early two thousands, i was sold a product from Nationwide called "Decreasing Term Assurance".

What i would like to know is this PPI??

Cheers

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  • antrobus
    antrobus Posts: 17,386 Forumite
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    s1ipmatt wrote: »
    Firstly i have tried to google and i think this just makes me more confused.

    When i took out a mortgage in the early two thousands, i was sold a product from Nationwide called "Decreasing Term Assurance".

    What i would like to know is this PPI??

    Cheers

    No. It's a life insurance policy. Presumably you had a repayment mortgage, so the balance outstanding would decrease over time. You take out a life insurance policy to repay the mortgage on your death, but the cover amount decreases to match the mortgage. Hence it is cheaper.
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