Why Not To Pay Ppi Payment Protection Insurance

Why Not To Pay Ppi Payment Protection Insurance



Why Not to​ Pay PPI (Payment Protection Insurance)
One way to​ save money on​ your credit card bill is​ to​ not take the​ payment protection insurance,​ this is​ a​ waste of​ money and the​ only one who will benefit from this is​ the​ credit card company.
Some people don’t realise that they are actually paying the​ payment protection insurance it​ can be hidden in​ with other costs,​ those of​ us that do realise we pay it​ think it’s a​ must why! Because the​ credit card company says so,​ we assume that if​ we loose our jobs or​ fall ill and have to​ have time of​ work,​ that with the​ (PPI) in​ place that we are covered well this is​ not all ways the​ case .​
Most people who take this cover with their credit card think they’re totally covered if​ something bad should happen,​ well I​ am here to​ tell you​ that you’re not a​ lot of​ people think their debt will be paid off for them,​ but most companies only pay a​ years payment then you​ have to​ pay the​ rest of​ the​ balance .​
Even if​ you’re still off sick or​ not working it’s your responsibility.
Most companies take a​ while to​ sort your claim out so at​ the​ start you​ will still have to​ find the​ money for your payment,​ and if​ you’re only off sick or​ out of​ work for a​ few months,​ you’ll properly find you’ll be back at​ work before your claim is​ sorted.
The amount you​ pay for your payment protection insurance is​ usually between 70p-80p for every £100 owed,​ these charges are usually hidden in​ with other charges for your credit card,​ and only come to​ light when the​ amount that you​ owe is​ at​ a​ high level .​
This is​ another way the​ credit card companies gain their profits.
If you​ pay your balance off in​ full at​ the​ end of​ every month I​ would not bother even looking at​ this policy,​ and if​ you’re self-employed I​ would not bother with this policy either as​ you’ll not be covered if​ you​ become unemployed.
I understand that when you​ take out a​ credit card you’re looking for a​ bit of​ security,​ but nine times out of​ ten times these payment protection insurances will not cover you​ and will only cost you​ money in​ the​ end .​
There are some companies that are more trustworthy than a​ (PPI) including Pay-protect and Good insurance they will pay more to​ your debt and at​ half the​ price you​ would pay on​ an​ payment protection insurance cover.




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