PPI Claims

What is PPI?

If you have taken out a loan it is likely that you will also have a Payment Protection Insurance Policy (PPI) without even knowing it.

PPI is a product sold by financial services companies alongside your loan to protect you and your family against unforeseen changes in your financial circumstances which may impact upon your ability to meet your monthly loan repayment.

There can be a number of reasons for these changes, including:

• Unemployment (through no fault of your own)
• Accident
• Sickness
• Reduction in your income

Payment Protection may have been added as a lump sum on top of your loan, or you may have been offered a regular monthly premium, this will be paid for seperate to your monthly loan repayment.

However, PPI policies are failing to pay out to the most vulnerable and to those that actually need it.

Did you know the following about PPI policies?

• PPI is hugely expensive, it can add between 13% - 56% to the cost of the loan
• Some consumers are unaware that they even had a PPI policy as it had been automatically added to their loan by the salesperson
• There are 20 million active PPI policies in the UK with only 2% of these policyholders attempting to use their policies when they are out of work
• 1 in 4 claims made by consumers to use their policy when they are out of work are rejected by the insurer due to exclusion clauses they had not been made aware of.
  For further information call us on 0800 280 2320

*Keypoint have recovered £60 million for 50000 clients over a range of financial mis-selling claims.

In October 2009 we recovered, on average, £2,513 for customers who were mis-sold loan insurance in cash or loan restructure savings.

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