PPI(Payment Protection Insurance)

What is PPI?

Installment Protection Insurance (PPI) was an item intended to cover your reimbursements on Loans, Credit Cards, Car Finances, Mortgages or Store Cards and Catalogs on the off chance that you are unfit to work because of a mishap, disease or excess.

Upwards of 64 million PPI policies1 have been sold in the UK somewhere in the range of 1990 and 2010, yet it was frequently mis-sold.

More than £34bn2 has just been paid back to individuals who have griped about the closeout of PPI.

Grievances about PPI have recently been made about the manner in which the PPI was sold, yet following an ongoing change in protests taking care of direction there is additionally motivation to whine if the Bank or other supplier earned an abnormal state of commission from the clearance of PPI, which clients were not told about at the season of offer.


  1. Financial Conduct Authority (FCA): Payment protection insurance explained – Last updated 24.04.2018
  2. Financial Conduct Authority (FCA): Monthly PPI refunds and compensation – last updated 18.03.2019

How was PPI mis-sold?

According to the Regulator3, the following are just some ways PPI could have been mis-sold:

  • You were pressured into buying PPI or told you must have PPI
  • You were promised a cheaper rate if you bought PPI
  • You were told your Loan or Credit application was more likely to be accepted if you bought PPI
  • PPI was added without telling you
  • You were advised to buy PPI that did not suit your circumstances or needs
  • You were self-employed, unemployed or retired but advised to buy PPI
  • You had a pre-existing medical condition at the time of buying PPI, which may have affected your ability to make an insurance claim
  • You were advised that a pre-existing medical condition was included in your PPI policy (or advised that it was not included)
  • It was not made clear that you would pay interest on the PPI if it was added to your Loan
  • It was not made clear that the PPI would end before the Loan or Credit was repaid

There may be other reasons you were mis-sold PPI.


New reason to complain

The changes to the complaints handling guidance, were a result of a court case about commission earned by a provider (often called Plevin), which means you may now also:

  • Complain even if PPI was not mis-sold or you do not think it was mis-sold
  • Complain even if you had a previous Complaint about mis-selling of PPI rejected

Don’t leave it too late...

Check if you had PPI.

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