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Payment Protection Premium

Payment protection insurance refunds are not easily obtained in most cases. Fortunately there are services such as ours that are in place specifically to help people who have been scammed by lenders. No one likes to consider the possibility that they are being duped out of their hard earned money by the very people who have lent it to them, but unfortunately this is happening everyday. A payment protection premium is charged at an incredible rate, many times as high as 79% of every £1! This more than doubles the payment a consumer is making on his/her loan. In a perfect world, if the policy was written well and the benefits would be paid out in a time of need then this may be a good thing. However, about 80% of everyone being sold a payment protection insurance policy falls into a category that considers them unqualified to receive benefits. In essence, this means they are paying through the nose for something they will never be able to take advantage of!

Pre-Existing Conditions

One of the most popular loopholes lenders use when denying payment protection insurance claims is a pre-existing condition of some sort. This means that a person who has been suffering from an illness for a number of years prior to taking out the policy would not be entitled to benefits should an onset of this same condition occur during the policy period. Of course this too would be fine if the person purchasing the policy were made aware of this disqualifying factor prior to buying the policy. Sadly, this is not the case and people who cannot qualify for coverage are being sold these policies anyway. For example, a person who has a major back problem that has been known to cause them to miss work cannot receive coverage from a payment protection plan. But this does not stop the lender from selling the policy to that individual anyway. It is not usually until years after the consumer has been paying an exuberant payment protection premium that he/she finds out that the policy is no good. At this point the consumer will want to try looking into payment protection refunds.

PPI Claims Companies

When it comes to disputing years worth of payment protection premium charges it can be quite tricky to get all of this money back. The most ideal way to go about trying to get a refund for a payment protection premium would be to contact a service that has experience in dealing with shady lenders who have scammed someone out of his/her money. This problem is growing and more and more people are becoming aware of their rights where making a payment protection premium for a policy that they are not even entitled to coverage on. While the practice of selling insurance to someone who is not eligible for such coverage is considered fraud, this has not stopped financial institutions from doing it thus far. For this reason it is best to contact a PPI claims company to help you get back the payment protection premium you have been paying for years and years, should you be denied coverage./p>

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