Hello readers,

I’m back as promised with the second slice of the pie on good indicators of your PPI being mis-sold to you.

Last week’s post on Single premium policies was the first in a series explaining the various reasons you are able to claim back your PPI. I think you’ll agree, it makes for interesting reading! The topic up for discussion this week is the sale of PPI to unemployed, students and retired customers.

As I have mentioned before, Payment Protection Insurance is designed to cover your repayments on your Loan, Credit card etc. in the event of you becoming sick or redundant from work. How is it going to be of any benefit to you if you’re not working and don’t have an income to protect?

Unemployed

If you are unemployed there is absolutely no chance what so ever of you being of work due to sickness (or any other reason for that matter!) as you are not working. The same applies for the redundancy bit; no job, no chance of being made redundant from it.

Retired

The same rationale applies to those who are retired, if you are a pensioner your income will not be protected by PPI as you do not work for the income from your pension.

Students

Students will also be ineligible to claim as they aren’t in full time employment and don’t have an income – students check your loans that have taken out with banks, if they are charging you for PPI and you aren’t eligible then claim it back!

It all sounds pretty straight forward doesn’t it? So what is so confusing for the insurers when they sell it? Well, it is less likely a case of confusion and more likely a case of