Thread: Ppi Insurance For His Job?

I Also Took Out PPI For My Husbands Job As He Is Self Employed Incase He Came Out Of Work Due To Illness Or Unemployment It Covers 900 Per Month Should I Cancel This? You Think You Have Peice Of Mind When You Take Out These Insurances!!!

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You are not suppose to be sold PPI as a self-employed. That is mis-selling.
The same rule apply to contractor, unemployed and retired persons because they will not be eligible for any payments from the PPI if they cannot meet debt repayment.

this is so confusing then? why do they sell you the insurance then..so if my hubby went off sick for over the 30 days or was made unemployed he wouldnt get a penny? is this right..?

The vast majority of PPI policys will not cover self employed but you can get them which do, so you should check your terms and conditions but i personaly would say it wouldnt cover him. So i would reclaim your premium back as there`s probably other reasons as well why it has been mis-sold.

thanks nickk its with hcforyou advent have you heard of them?

Chinnygirl is this a stand alone policy that you bought independantly of a loan or credit agreement?

i bought it independantly incase he came out of work?
is it only policies that have added it that you can claim back.. thanks

Originally Posted by chinnygirl

i bought it independantly incase he came out of work?
is it only policies that have added it that you can claim back.. thanks

In that case I doubt that the information on here will be of much use as it is designed for policies that were sold alongside loans etc. If you actually went and bought a policy independanty it could be difficult to argue that you didn't know you were buying it etc.

There is a widespread misconception that all PPI policies do not cover self employed, which is not always true.

Assuming the company you bought it from knew that your husband is self employed then I would imagine that he will be covered, but check the small print anyway. The most obvious risk for self employed (sole traders) is the threat of accident or sickness preventing them from working. All PPI's cover this whether he is self employed or not - the evidence needed in the event of a claim comes from his doctor and not his employer!

Please DO NOT cancel this policy without seeking proper advice. Sods law says that the day after you cancel it your husband could well be needing it. I doubt that those who would readily tell you to cancel it now would be prepared to take responsibility for the situation you would be in if you were left under insured should the worst happen. When you bought the policy you obviously saw the need, and I assumeof course that hasn't changed. Seriously - SEEK INDEPENDANT ADVICE !!

Hope that helps.

Thanks for the information hun much appreciated i will do that x

You say £900 a mth it pays out then this sounds like an income protection policy and not a PPI policy.

So need to claify exactly what you have.

Regards

Leon

okay hun ill double check it thanks