The benefits of payment protection insurance may have been outlined to you, but is it something you really need? Whether you are applying for a simple loan or your first credit card, each person has their own individual circumstances. That applies to everything from your employment status to your recent financial situation. We cannot all be tarred with the same brush when dealing with complex financial issues like these. If you feel your personal circumstances were not assessed sufficiently or correctly, you may have grounds to question whether payment protection insurance was something you genuinely required. If you were mis-sold PPI, a PPI calculator could be a quick and easy way to work out what you are owed.

Payment protection insurance is also a complex financial area itself. All policies carry specific conditions and exemptions. Did you have enough of an idea how these applied to you when first taking out the policy or what potential there was for these to change? The financial ombudsman reviewed almost 50,000 cases of alleged mis-selling in 2010 alone. A great number of these will have been due to confusion over how payment protection insurance works and what relevance it had to you when you first took it out. The reports that individuals may even have been mis-sold a PPI policy without their knowledge are even more worrying. It is conceivable that you could have got through a significant period of a mortgage or spent years using a credit card without knowing PPI was attached to such things. Scenarios like these can give you reasonable grounds to investigate how it could have happened and what you can now do about it.

Payment protection insurance may have been something that you felt was a good idea at the time, but did you understand the terms and conditions along with the benefits? The idea of giving yourself that safety net should your personal circumstances change is understandably attractive. None of us really know what is around the corner and, if you felt your job may be at risk, or you were aware that illness could affect your earnings in the future, a PPI policy could certainly be a wise move. It offers the security of knowing that repayments would be taken care of, leaving you to concentrate on other areas of your life. However, if you were retired or in full time education, was payment protection insurance really a necessary expense? The answer is probably no, meaning you are likely to have a good case for applying for a refund to any payments you made with such a policy.

In contrast to the complex issue of payment protection insurance, making a PPI claim with PPI Claimline is a simple and transparent process. There is no limit to the number of PPI claimsyou can make, and keep in mind that PPI can be attached to a multitude of things, from taking out a mortgage to applying for a credit card. As stated above, the most important thing is to think back to when you first purchased the policy. How much did you know about the policy and how relevant do you feel it was for you? PPI Claimline has experience in dealing with every step of the refund process, from asking the relevant questions to establishing whether the policy was mis-sold, and securing the required refund.