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PPI on Orange Care insurance cover?
Quite clueless when it comes to PPI so thought I'd ask. Should I bother seeking PPI for an old Orange Care insurance cover plan I used to have from 2011 until (??? can't remember when I stopped it but will find out if it's worth doing.) Sorry for daft question.
Comments
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Not all insurance is PPI. What was the cover for and how did you pay it?
[Its not likely to have had any on it on 2011 BTW]Non me fac calcitrare tuum culi0 -
You categorically cannot have PPI ON an insurance product, PPI covers unpaid debts, insurance is not a debt in that sense (even if paid monthly) as they just cancel it if you don't pay so you have no cover.
Orange care (assuming you mean something to do with the mobile operator) is not PPI, it's cover for your phone and while you could complain about it, seems a bit pointless as you won't have been miss-sold it if taken out in 2011, there would be a proper audit trail which you agreed to in order to have the product. Moreover, it'll likely be time barred if you closed it before 2015/early 2016Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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You categorically cannot have PPI ON an insurance product, PPI covers unpaid debts, insurance is not a debt in that sense (even if paid monthly) as they just cancel it if you don't pay so you have no cover.
You know when you say something like that there is a good chance I will come along and say otherwise
There were a very very very small number of policies where PPI could exist. However, it wasnt on the insurance itself. It is where people used a credit agreement to borrow money to pay an annual premium in monthly instalments. The PPI was on the credit agreement rather than the insurance policy.
Obscure and highly unusual and wouldnt apply in this case but it does exist...indirectly. You can slap me for being pedantic
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 -
I was going to say the same thing but with far less words and more unintelligibility. Non me fac calcitrare tuum culi0
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I suppose I could have been more specific but Orange Care (a policy that covers lost, stolen or damaged mobile phones) didn't have PPI
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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