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PPI claims does it affect your policy?

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I am considering submitting a claim for mis-sold PPI but before I do I want to know if it will affect the policy I have it on. I have a mortgage protection plan and wonder that if a PPI claim is successful on this policy what will happen to the policy? Will I still have mortgage protection in place or is the policy ended when a claim is put?

Many thanks

Comments

  • dunstonh
    dunstonh Posts: 116,681 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
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    I am considering submitting a claim for mis-sold PPI but before I do I want to know if it will affect the policy I have it on.

    Yes.

    A complaint is that you didnt want it. So, they will usually void the policy whether you succeed in your complaint or not (and most mortgage PPI complaints fail).
    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.
  • [Deleted User]
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    s_walsh456 wrote: »
    Will I still have mortgage protection in place or is the policy ended when a claim is put?
    You can't have it both ways I'm afraid.
    Complain that the policy was mis-sold and the amount you paid will be refunded, but you will obviously no longer have the insurance cover.
    If you require the insurance (and it's suitable for you) then don't make a mis-selling complaint is the simple solution.

    Most mortgage PPI complaints fail for exactly the fact that the insurance is both desirable and necessary.

    Mortgage PPI is still retailed today.
  • antrobus
    antrobus Posts: 17,386 Forumite
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    I don't understand.

    If you have come to the conclusion that you neither want nor need this policy, the first thing you would do is stop paying and cancel it yourself,
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