According to a recent report from the Office of Fair Trading, only 1 report out of every 5 is rejected and other 4 get successful regarding PPI claims. Stats showed that a year back more than 25,000 complaints for PPI were submitted by people and this shows that how much people are grieving about insurances. All of these complaints were against some of the top notch financial institutions of UK because they mis-sold millions of PPI policies. Because of this misconduct, the confidence of people in the insurance policies is not a strong one anymore especially under the current economy status.
Many reports showed that hundreds and hundreds of people from United Kingdom make the decision to buy PPI as they believe that it strengthens the acceptance of the financial products they want to borrow.
Many people are having this policy with them for years now and they are paying monthly premium on it but the reality is that they don’t even know what PPI is all about. PPI is simply an insurance policy which is offered to the consumers at the time of loans, credit card or mortgage and it provides them with protection in case they encounter some hurdle in paying their monthly debts.
PPI works in a very simple way and if it is properly implemented; consumers in their hard time can benefit a lot from it. If a consumer is not able to make the payments for loans or credit cards, PPI policy makes it for a specific period.
But if such a policy doesn’t work for you, you may look for other ways to make money online. For instance, you can have a psychology night course, and jump in one of the many lucrative psychology careers. You can try child psychology or school psychology. These may get you a valuable extra revenue.