Premier Man Catalogue PPI Check

What is Premier Man PPI?

There are many ways of referring to Premier Man payment protection insurance (PPI), these include credit insurance, credit protection or loan repayment insurance. The purpose of PPI was to help a borrower make their repayments to Premier Man if they couldn’t due to an unforeseen event, such as sickness, injury or redundancy.

PPI is often confused with income protection insurance. They are two completely different products. PPI provides short-term cover and is provided alongside loan and credit products. Any pay-outs under PPI go straight to the loan provider instead of the policyholder.

Income protection insurance is designed to cover 70% of the policyholder’s income if they can’t work due to accident or sickness. This is long-term protection and can cover a person until they retire if they are too ill or injured to work.

Many PPI policies sold by Premier Man were added on to a loan, credit/store card, mortgage or an overdraft.

The duration of Premier Man PPI usually covers a period of 12 months allowing the borrower to time to seek employment or return to work, if appropriate.

How was Premier Man PPI mis-sold?

Some customers were sold Premier Man PPI without knowing it had been added to their loan. Consumers say that Premier Man advised them their loan, mortgage or credit card application would not be approved if they didn’t buy Premier Man PPI. This meant borrowers took out the Premier Man PPI, even though they may not need it because they didn’t want to risk losing the deal.

Were you mis-sold PPI by Premier Man?

It is possible PPI may have been mis-sold by Premier Man if any of the following facts occurred at the point of sale:

• • Were you unemployed, self-employed or retired at the time Premier Man sold you the PPI policy?
    • Had you been unemployed, self-employed or retired when you were sold your PPI policy by Premier Man, you would not have received any benefit from it as you would not have been covered.
  • Did you know that PPI had been added to your agreement by Premier Man?
    • If you had no idea that Premier Man had added PPI to your agreement, it could have been done without your consent. Alternatively it could have been an opt-out box that wasn’t clearly visible.
  • Had the Premier Man explained the total cost of Premier Man PPI to you at the time of sale?
    • All costings relating to the PPI should have been explained to you by Premier Man. This will be a major mis-selling factor if it wasn’t done.
  • Did Premier Man make it known that that some of the PPI premium may have been paid as commission?
    • If more than 50% of your PPI premium was paid as commission to Premier Man, this is classed as high commission under the Plevin rule. You were mis-sold and due a PPI refund.
  • Were you made aware by Premier Man that you could cancel the PPI policy?
    • Premier Man should have explained that you had a cooling off period and could exercise your right to cancel the PPI policy within that time.
  • Were you made aware by Premier Man of any circumstances or exclusions where you would not be successful in making a claim?
    • If Premier Man had not made clear any exclusions or circumstances that would prevent you from claiming, you may have been mis-sold Premier Man PPI policy.
  • Were any enquiries made by Premier Man if you had other PPI cover that would cover repayments?
    • Premier Man has a responsibility to find out if you had sufficient PPI cover elsewhere.
  • Were you pressured into purchasing the Premier Man PPI policy?
    • Premier Man should have looked at your personal situation to assess if you would benefit from having PPI without any pressure or hard-sell.
  • At the time of taking out the PPI policy with Premier Man, did you have any pre-existing medical conditions?
    • If you had any pre-existing medical conditions that meant you could not have worked for the duration of the Premier Man PPI term, you would not be covered by the Premier Man PPI policy.
  • Was it implied to you that Premier Man PPI was necessary to get the finance?
    • If the finance sought was such that required a PPI policy, Premier Man should have let you know that you could shop around to find and compare PPI cover or if you already had PPI in place, Premier Man should not have sold you their PPI policy.
  • Did Premier Man PPI have an upper age limit, if so, were you older than it?
    • If Premier Man PPI specified an age limit for cover and you were older than this, you would not be covered by the policy.
  • How long was the term of Premier Man PPI, was it was shorter than the term of finance agreement? Did Premier Man explain that there would also be a period of no cover towards the end of the finance agreement?
    • If Premier Man didn’t explain that you would have a period of no protection during the term of the finance agreement, you Premier Man PPI policy was mis-sold to you.

What could you claim from Premier Man?

If your claim against Premier Man is upheld, you may receive a full refund of PPI paid to Premier Man, including any interest charged on the PPI. Statutory interest of 8% per year would also be payable on the premiums and any interest charged.

How to Make a PPI Complaint to Premier Man?

The PPI deadline (29th August 2019) set by the FCA has now passed and we are no longer accepting any new PPI claims.