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Mis-sold Ppi
I can remember going to my bank in the late 1990s to enquire about a loan for a new car. I`d fell in love with this slinky, silver sports car and being a single male at the time, with plenty of disposable income, I thought I`d treat myself to this flashy kind of motor. The bank eventually approved my loan but I was forced into taking out payment protection insurance at the same time. I`m not sure why I took it out to be honest. I think I felt pressured into taking out the policy because the person whom I spoke at the bank said it strengthen my initial loan application if PPI was in place. Nothing was explained to me about the PPI and how it would cover sickness payments or payments for the loan if I was made redundant. In fact, I think I was Mis-sold Ppi by the bank and had it not been so long ago I would put a claim in against the bank in question. Over the years countless customers have been Mis-sold Ppi policies through the banks. Huge profits could be made out of PPIs so you can see why banks would push them onto their customers. Today people are fighting back. Anyone who thinks they might have been Mis-sold Ppi polices in the past can speak to claims management firms who will take their case on and try to recover as many payments as possible.

Critical illness cover is one of the most popular and fastest growing insurance products available in the UK. This is shown by the fact that there was a 31% increase in the number of critical illness insurance policies sold between 2001 and 2003.

What is Critical Illness Cover

Critical illness insurance pays out a tax free lump sum to policy holders if they are diagnosed with a serious illness which is covered by their critical illness plan. Examples of serious illnesses covered by critical illness insurance policies include; strokes, heart attacks and cancer.

Policyholders can use this money in any way that they wish such as for medical care or to cover living costs that they cannot otherwise meet owing to loss of income.

Who Should Consider Critical Illness Cover

Most people do not like to contemplate the fact that they might become seriously ill and assume that it will not happen to them. However, statistics demonstrate how widespread serious illness is and that we should face the fact that we might suffer from it at some point.

For example, 100,000 people in the UK have strokes each year and almost 8,000 of them are under 55 years old. Of these, a third die within twelve months and another third, over spend the rest of their lives disabled.

Furthermore, in the UK, 300,000 people have heart attacks each year and 80% of sufferers aged between 45 and 65 survive. Whilst over 30,000 women are diagnosed with breast cancer annually many of whom survive for a number of years but continue to need medical treatment.

Given that so many people who are diagnosed with serious illnesses go on to survive but need ongoing medical treatment and often cannot continue working, critical illness insurance can provide a very welcome financial safety net.

Useful critical illness insurance information sites:

Critical Illness Cover UK.

Critical Illness Insurance UK.

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