Payment Protection Insurance is found to be one of the items that are often mis-sold. Speaking on numbers, the PPI covers are believed to gain billions of revenue to most of the financial societies. However, the Payment protection insurance is designed to repay the debt as a result of sudden unexpected incidents in life like unemployment, accident and long-term illness. There are any instances where borrowers are pushed to buy a payment protection cover by the pressure given by the insurance officials. If you are one among them holding a Payment protection insurance and feel like you have been mis-sold then check it out whether you are able to find satisfactory answers for the questions given below.

• Are you retired or nearing retirement age while taking out the policy?

• Were you shortly due to become self-employed while taking out the policy?

• Were you employed while taking the policy? (Of course, students are not eligible)

• Did the finance officials say that Payment protection Insurance is optional?

• Did you possess any other types of protection policies while buying payment protection insurance cover?

• Have you told that PPI is compulsory or given a surety of other gifts like credit cards or other similar 
products in the event of taking a PPI policy?

• Were you told that you would be provided with a better interest if you buy a Payment protection Insurance cover along with your personal loan?

• Did the insurance official explained in brief about the pre-existing medical conditions and how far it could affect your policy while making your claim?

• Were you clearly explained about the entire cost of the premium in detail?

• Were you informed properly that you had taken a PPI policy?

• Were you told that the cost for the premiums would be added with the cost of the loan?

If you don’t get satisfactory answers for the questions above then probably you have been mis-sold with a Payment protection Insurance cover. But no more worries because the procedure for filing a claim is so easy that you could get back your money within few months. However, it depends upon the legal representation of the firm you choose. In case if you are unemployed at the specific time period then get a confirmation letter from the organization where you worked. Also get confirmation orders from the accountant specifying that you have stopped working from that particular organization. In the event of sickness and accident claims, get a certification from the doctor who treated your illness. Provide necessary documents regarding your income and mortgage payments. Once your claim is accepted, the amount will be directly credited into your account.