Often taken along with a mortgage, loan or virtually any kind of credit agreement payment protection is meant to provide the customer with a guarantee that their repayment costs will be met in case of accidents, prolonged periods of sickness or unemployment. Unfortunately when you look at the figures concerning the suitability for purpose of these financial products it paints a grim picture. With 7 million policies sold into the market every year and up to half of them being unsuitable for purpose depending often on the policy holder’s status, the looming crisis for the insurers is surely just beginning. The fact that often people don't even realise they have been sold the products combined with the level of potential compensation claims must mean trouble for the men in the gray suits.

It is reported that around 85% of claims made against these PPI policies fail. These claims are being rejected by the insurance company, so not only are they failing to sell the customer a suitable product but when it fails they are basically sticking their fingers in the air! Doesn't sound like a very clever way to keep this under wraps now does it? Maybe it's because this approach earns them over £5 billion is premiums every year.

In order to get your claim to win you need to prove that the company or adviser failed to comply with the specific selling rules relating to your insurance policy. You should bear in mind that once you have had your claim rejected, it will be more difficult to make another.

You can contact the specialists at insurance-compensation.com by clicking the links below, they will handle everything from start to successful completion.