New research suggests that as many as two million consumers may have been sold payment protection insurance (PPI), even though they were not eligible for the products.
Consumer watchdog Which? has revealed that in the last five years, a third of policyholders that have taken out cover may be undermined by at least one significant exclusion policy.
The study was carried out by the firm as part of its PPI mis-selling campaign and they are now asking consumers to check their policies and if they find that they may have been mis-sold the product, to make a complaint.
Doug Taylor, Which? personal finance campaigner, says: "We've always known that people were being mis-sold PPI, but we were still amazed to discover the scale of it. If you have a loan and think you might have been mis-sold PPI, now's the time to fight back. Compensation could be just a letter away."
Which? says that among those that could be ineligible for cover under the terms of the policy are people who are self-employed, or those on a fixed-term job contract.
Payment Protection Insurance sold to two million ineligible consumers
Financial Services > Income lnsurance > News
Payment Protection Insurance sold to two million ineligible consumers
Thu, 05 Jun 2008
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