For many of those who were mis-sold PPI, their policies may have been sold under a different name. Payment Protection Insurance can be sold under a number of names, although the principle behind all these policies is essentially the same. Here are some of the more common names under which you may have purchased a policy – and for which we may be able to obtain you a substantial refund.

Why should you claim for PPI?

If you were retired, unemployed or self-employed when the PPI was sold to you then you should claim because the PPI is worthless to you in these circumstances.

If you were told you must take out a PPI policy in order to qualify for the loan or other finance. You should also have been told that you are free to purchase PPI from any other supplier.

If you already had a PPI policy in place but were not asked this question; you may have been covered by an existing policy.

If you were not told that you could purchase PPI from other suppliers.

If you were not told about the circumstances in which you cannot make a claim.

If you paid for the PPI in one lump sum, without being told that you could pay for it monthly.

If you paid for the PPI in one lump sum and then paid off your loan (or other finance) early but did not receive a refund on your lump sum PPI payment.

If the terms and conditions of the PPI policy were not explained to you clearly.

If you felt that you were pressurised in to purchasing the Payment Protection Insurance from the supplier.

Accident Sickness & Unemployment Protection

Commonly known as ASU insurance, these policies are often sold alongside mortgages or more substantial loans, and claim to cover your repayments should you become unable to work through unemployment, injury or long-term illness. However, loopholes often mean that the promised tax-free monthly payment fails to materialise when the worst happens. For instance, the small print usually excludes pre-existing and recurring medical conditions, whilst stress and back problems (two of the largest causes of absence from work) are frequently not covered. So if you are sold a policy that excludes conditions you already have, this could be classed as mis-sold PPI. What's more, if you're self-employed, you will probably have to cease trading altogether in order to make a claim.

Loan Payment Protection

Personal Loan Protection (PLP) is one of the most common forms of PPI, and also one of the most expensive. This sort of insurance can be sold alongside almost any loan, whether secured (tied to an asset, such as your property) or unsecured. Frequently, people take out this sort of insurance when making a major purchase such as a car or a new kitchen, or it may be offered alongside a credit card. In fact, you might not even know you agreed to this sort of insurance, but could be paying the premiums regardless! The sad fact is that the insurance can vastly increase the amount you owe – for one loan of £5000, the payment protection premiums totalled £1300 or a full 25% of the entire loan. If you were not aware of the fact that you even had the policy with your loan, or you were not aware that it is not compulsory, this may be considered mis-sold PPI.