Renaissance Claims

Renaissance Claims
Freephone 0800 410 1214 It's estimated that as many as 20 million payment protection insurance (PPI) policies have been sold by Banks, Building Societies, Specialist lenders, Finance Companies and Mortgage Brokers in the UK and it's estimated that as many as 90% of them may have been mis-sold. To support this, it has been reported that around 90% of all missold PPI claims submitted to the Financial Ombudsman are being upheld in favour of the client and massive compensation claims are being awarded against UK lenders. The payment protection insurance industry is estimated to be valued in excess of £6 billion to the UK lending industry and if 90% of these claims have been mis-sold, then the reclaim industry has a massive task ahead of it. Well what is all this about? The idea of arranging an insurance policy to protect individuals against financial hardship in the event of losing their job through redundancy, being off work through sickness and/or accident is good, as the insurance policy would pay out a monthly benefit to an individual to help them to meet their loan repayments.... It all sounds good so far. There are a number of factors and clients circumstances that should be taken into consideration by advisers when considering insuring a client for the repayment of a loan and I list these for consideration. 1) Is there a need to protect the individual/s? 2) Do they already have protection in place? 3) Does the customer qualify for the protection? 4) What term will the protection last in comparison with the loan term? 5) Is the protection suitable? 6) Are there any pre-existing condition clauses? 7) If yes, have these been explained? 8) Have comparisons of similar products been made? 9) Have the terms and conditions of the policy been fully explained? Unfortunately, most of the payment protection insurance (PPI) policies sold by lenders (to protect loans and credit card payments) have been sold as a single premium policy. This effectively means placing a lump sum insurance premium on top of a loan and thereby increasing the loan amount substantially. It has been reported that this insurance premium can increase the loan amount by as much as 40% in some instances. Renaissance Claims TEXT YOUR NAME and CLAIM TO 07957 883403 NOW! Call us on: 0800 410 1214 or email claimppi@googlemail.com A typical loan example: Loan amount borrowed £ 25,000 over 20 year term @ 9% APR Single premium Payment Protection Insurance premium = £6,975 Total borrowed £25,000 + £6,975 = £31,975 @ 9% APR Payment protection insurance would normally protect the borrower for the first five years of the loan, whilst paying the full 9% APR on the total amount borrowed for the whole 20 year term. Now, logic tells us that we do not just suffer the consequences of redundancy, accident and sickness over the first five years of taking out a loan and experience further tells us that we tend to suffer from illness the older that we get. So, where is the logic of arranging a short term policy such as this, on a long term loan? The issues regarding the mis-selling of payment protection insurance are massive and there is a whole list if things that can be identified to each individual's circumstances but surely the product selected should be suitable and fit for the purpose in the first place. The ideal situation for this would be a protection policy that protects for the term of the loan and one that is not added to it Renaissance Claims Referral claims will be undertaken on your behalf strictly on a No Win No Fee basis for PPI claims. We are presently experiencing extremely high volumes of enquiries and as time may be a factor, you should not delay any longer. Please contact us today and get your claim underway. Call us now on: 0800 410 1214 or email claimppi@googlemail.com TEXT YOUR NAME and CLAIM TO 07957 883403 NOW!! Renaissance business finance is a trading name of Financial Reclaims Limited who are regulated by the Ministry of Justice in respect of regulated claims management activities. Our authorisation number is CRM20246 and our registration is recorded on the Ministry of Justice website www.claimsregulation.gov.uk . Tags: Renaissance claims, renaissance claims, renaissance claims, renaissance claims, renaissance claims, renaissance claims, renaissance claims, renaissance claims, renaissance claims, renaissance claims, renaissance claims, renaissance claims.

Renaissance Claims

Freephone 0800 410 1214

It's estimated that as many as 20 million payment protection insurance (PPI) policies have been sold by Banks, Building Societies, Specialist lenders, Finance Companies and Mortgage Brokers in the UK and it's estimated that as many as 90% of them may have been mis-sold.

To support this, it has been reported that around 90% of all missold PPI claims submitted to the Financial Ombudsman are being upheld in favour of the client and massive compensation claims are being awarded against UK lenders.

The payment protection insurance industry is estimated to be valued in excess of £6 billion to the UK lending industry and if 90% of these claims have been mis-sold, then the reclaim industry has a massive task ahead of it.

Well what is all this about?

The idea of arranging an insurance policy to protect individuals against financial hardship in the event of losing their job through redundancy, being off work through sickness and/or accident is good, as the insurance policy would pay out a monthly benefit to an individual to help them to meet their loan repayments.... It all sounds good so far.

There are a number of factors and clients circumstances that should be taken into consideration by advisers when considering insuring a client for the repayment of a loan and I list these for consideration.

1) Is there a need to protect the individual/s?
2) Do they already have protection in place?
3) Does the customer qualify for the protection?
4) What term will the protection last in comparison with the loan term?
5) Is the protection suitable?
6) Are there any pre-existing condition clauses?
7) If yes, have these been explained?
8) Have comparisons of similar products been made?
9) Have the terms and conditions of the policy been fully explained?

Unfortunately, most of the payment protection insurance (PPI) policies sold by lenders (to protect loans and credit card payments) have been sold as a single premium policy. This effectively means placing a lump sum insurance premium on top of a loan and thereby increasing the loan amount substantially. It has been reported that this insurance premium can increase the loan amount by as much as 40% in some instances.

Renaissance Claims

TEXT YOUR NAME and CLAIM TO

07957 883403 NOW!

Call us on: 0800 410 1214

email claimppi@googlemail.com

A typical loan example:

Loan amount borrowed £ 25,000 over 20 year term @ 9% APR
Single premium Payment Protection Insurance premium = £6,975

Total borrowed £25,000 + £6,975 = £31,975 @ 9% APR

Payment protection insurance would normally protect the borrower for the first five years of the loan, whilst paying the full 9% APR on the total amount borrowed for the whole 20 year term.

Now, logic tells us that we do not just suffer the consequences of redundancy, accident and sickness over the first five years of taking out a loan and experience further tells us that we tend to suffer from illness the older that we get. So, where is the logic of arranging a short term policy such as this, on a long term loan?

The issues regarding the mis-selling of payment protection insurance are massive and there is a whole list if things that can be identified to each individual's circumstances but surely the product selected should be suitable and fit for the purpose in the first place. The ideal situation for this would be a protection policy that protects for the term of the loan and one that is not added to it

Renaissance Claims

Referral claims will be undertaken on your behalf strictly on a No Win No Fee basis for PPI claims. We are presently experiencing extremely high volumes of enquiries and as time may be a factor, you should not delay any longer. Please contact us today and get your claim underway.

Call us now on: 0800 410 1214

email claimppi@googlemail.com

TEXT YOUR NAME and CLAIM TO

07957 883403 NOW!!

Renaissance business finance is a trading name of Financial Reclaims Limited who are regulated by the Ministry of Justice in respect of regulated claims management activities. Our authorisation number is CRM20246 and our registration is recorded on the Ministry of Justice website www.claimsregulation.gov.uk
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Tags: Renaissance claims, renaissance claims, renaissance claims, renaissance claims, renaissance claims, renaissance claims, renaissance claims, renaissance claims, renaissance claims, renaissance claims, renaissance claims, renaissance claims.