About PPI

Payment Protection Insurance (PPI), is a financial product designed to protect payments in the event of loss of income. Many policies were sold to people that were not suitable for these products, often these policies were added without customers even knowing.

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Bank Loans

Often added with­out the customer’s knowl­edge. charged as one lump sum at the beginning of the loan term.

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Credit Cards

Some­times known as “card pro­tec­tion” often it was added auto­mat­i­cally and cus­tomers would need to actively “opt out.”

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Secured Loans

Very expensive policies were added onto secured loans and mort­gages.

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