If you want to be geared up for the future against unfortunate or contingent events, getting an insurance policy is a good idea but if you have been mis sold PPI, you must file a claim to recover PPI refunds. It is really impossible to escape the risks of life. The known hazards such as illness, fires, accidents, and the like can certainly pose a continual threat to our personal and business lives. But prevention cannot really remove the known hazards of life. Nor can insurance policy prevent losses. What it does is to spread the losses over a large number of persons bearing the same risks. Basically, each person contributes to a general insurance fund out of which he is reimbursed for losses he may suffer. Thus, each and every person pays for protection against specified peril.
An insurance contract must be consensual, which means that it must be perfected by the meeting of the minds of the parties. So, in the event that an application for insurance has not been either accepted or rejected, there is no contract as yet. However, this is not the case with regard Payment Protection Insurance policy. What makes this kind of insurance product different from the usual insurance contracts? The problem with this insurance contract is that it has been used by the insurance companies to gain more profit for their personal interest and not really to insure the insurable interests of the customers.
Insurance companies have been very dishonest in dealing with most of their customers. You want to know how? Here's the thing. Such insurance policy has been attached to the principal contract of the customer even without the consent or knowledge of the latter or the in order for the principal contract to get approved it must be taken out. It is really an unscrupulous behavior. In the first instance, there is an absence of the element of consent which makes the contract null and void and the customer may rescind the contract to protect his rights. Getting a wrongly sold insurance contract is really disturbing thus it is necessary to file a claim to recover Payment Protection Insurance Refunds.
Ensuring success in filing mis sold PPI claims is easy and simple if you have a professional back up. Therefore, it is necessary to retain a claim solicitor. This is also to secure the process of your claim because most of the claims that have already been filed got rejected or placed on hold.
Tracey Bullman specialises in ppi refunds and other financial products for UK based http://www.ppirefundsuk.co.uk/. He also covers unfair mortgage charges and the financial claims industry generally, as well as writing articles on personal finance, house sales, repossession and business finance.
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