Avoid the payment protection insurance scams
- 18TH AUGUST 2007
Payment protection insurance (PPI) has earned itself many negative names. However, it should be those that provide inferior and over priced products that should be called them. Unfortunately, the worst culprits for pulling off the payment protection insurance scams are often the names we trust - the high street lenders. Some of the tactics they use are including the cover in with the loan or credit card repayments and not making the consumer aware of what a policy entails.
The only way to avoid the payment protection insurance scams is to go o a specialist and ethical payment protection insurance provider. The high street lender relies on their well-known name and a consumer’s ignorance to “rip-off” consumers, by providing them with a policy that they might not even be able to claim on along with charging premiums that are as high as 80% more than had you gone to a specialist provider.
British Insurance is one specialist payment protection insurance provider that does offer plenty of free advice that is written in plain English, making it easy to make the right choice about whether the protection is right for you.
Payment protection insurance will pay out a monthly fixed sum of money for up to 12 months (in some cases, 24 months) which enables you to carry on paying your credit card or loan repayments if you were to come out of work through an accident, sickness or unemployment, and it can be an invaluable financial safety net.
However it isn’t suitable for everyone and there are exclusions within them that could stop you from making a claim if you are ineligible for cover.
British Insurance makes sure the information is available to you before you purchase your policy so you can then decide for yourself if you would benefit from payment protection insurance.
