If you've had a loan in the last 10 years with Payment Protection Insurance your lender could owe you a refund. To find out how much you could be owed simply request a call back.

How does it work?

Payment protection insurance, (also known as PPI, loan security insurance, loan pay back insurance, not to be mistaken with revenue protection or credit card cover) is an insurance commodity that is often engineered to cover a debt that is currently outstanding

(only wages transaction protection, or the Competition Commission preferred term "short term IP" is not precise to a debt but covers any income).

This unsecured debt is normally in the form of a loan or an overdraft, and is most frequently sold by banks and other credit solutions as an add-on to the loan or overdraft item. It typically covers the client against an injury, sickness, unemployment or death, circumstances that may prevent them from obtaining a salary/wage by which they can service the debt.

Payment Protection Insurance Template  often covers minimum loan (or overdraft) payments for a defined span (typically 12 months). After this point the borrower must find other means to settle the debt, through the period covered by insurance is typically long enough for most people to commence working again and generate enough to service their debt. Payment Protection Insurance is different from other types of policies such as household, in that it can be quite difficult to determine if it is right for a person or not. Payment Protection Insurance Lloyds TSB

Careful assessment of what would transpire on became unemployed would need to be considered, as payments in lieu of notice (for example) may render a claim ineligible despite the insured person being genuinely unemployed. In this case, the approach taken by PPI insurers is consistent with that taken by the Benefits Agency in respect of unemployment benefits.