How Far Back Can I Claim My PPI? A Question On The Minds Of Many

At present there is the ongoing scandal of insurance mis-selling (this has been going on in the UK for a number of years and there are cases of miss sold PPI dating back more than 20 years), this is a financial scandal that has been raging for more than a decade with a number of different ppi claims companies’ handling claims for customers (in some cases claimants have hired their own independent solicitors or even pursued a PPI claim themselves).

When it comes to payment protection insurance claims (PPI claims for short) some examples of important questions on peoples minds at the moment are questions such as “how far back can I claim PPI?” Expanded Meaning: “how far back in time can my payment protection insurance policy be before I’ll be unable to make a claim for compensation?”.

The reality is: with a PPI claim there is officially no formal time limit (some people have successfully claimed compensation from miss sold insurance policies dating back over a decade).

However there is a complexity: Something which is known as the “six year time limit”

Six Year Time Limit?

This is basically the statutory time limit for which banks and other financial corporations have to keep a record of payment protection insurance policies.

If your claim is dating back to longer than six years ago this does not necessarily mean that you will have issues with making a PPI claim, what it means is that it is possible that the company that miss sold the PPI to you in the first place has no record of your PPI policy.

What Happens If They Have No Record Of My PPI Policy?

There are ways around this, the most obvious way is to check if you have any of the original paperwork that goes with your original PPI policy, if not, this is not necessarily an issue, there may be other ways to prove you paid into a PPI plan, this is more a matter for expert PPI solicitors to look into rather than something to make speculative estimations on however.

Rest assured: people have successfully reclaimed PPI on policies that go back much longer than six years, so as stated above this does not necessarily pose a threat to a potential claim at all.

How About If I Have My Original Paperwork?

If you have your original paperwork there is no problem, you have supporting evidence to prove you paid into a PPI policy and thus you have a solid foundation to find out whether or not you have a valid PPI claim.

Many PPI Claims companies can help you claim PPI even if you don’t have the original paperwork, one example of such a company is: this company who are known to be actual “PPI solicitors” which gives them additional abilities to facilitate your claim, however there are also other PPI companies’ that can handle your PPI rebates, a simple search will reveal a number of companies that can handle your case for you.

You also have the option to handle the claim by yourself and save having to pay any commissions out to claims management firms, however this can be a lengthy process and may require more than just patience, (many PPI claims end up having to be submitted to the financial ombudsman service and pursued further should the banks try to reject a claim.) However, on the balance it is possible also to claim PPI without the use of a solicitor or a claims management company.

The PPI Scandal is one of the largest scale mis-selling scandals of all time, there are funds allocated to compensate members of the public who have experienced this kind of mis-selling so it is advisable to at least make enquiries if you have a suspicion that you have had PPI on either a loan, credit card, mortgage, or other financial arrangement.

Final Tip: If you do intend to claim compensation it is sensible to claim as soon as possible due to the fact that there is a deadline being implemented by the FCA meaning that any outstanding PPI claims will need to be submitted before the deadline of August 29th 2019, so submit your case as soon as possible.

4 Things to Think About to Choose an Insurance Agent That’s Worth the Money

Insurance may not be something you think of when setting your budget. It’s something people usually buy because they’re preparing for the worst. When unexpected circumstances arise, insurance policies bring welcome peace of mind, making them good investments no matter how much money you have. Besides choosing the correct type of insurance, it’s also important to work with a suitable insurance agent. There are several things to consider when selecting one, whether you are buying insurance for the first time, or switching to a new agent.

Area of Expertise

homebuyers_2Many insurance agents offer various types of coverage from a single office. For example, you may be able to work with a single provider to get insurance for your car, home, and business. Before getting serious about starting your search for an agent, take time to explore the kinds of insurance that are available, and learn about the types that are relevant to you. Then, narrow your search by focusing on insurance agencies that provide the kind of coverage you need.

Customer Satisfaction

It’s also smart to speak to potential insurance agents and ask them if you could get references from clients they are working with currently, or have assisted in the past. It may not be possible to get those references, but even if you have difficulty, that doesn’t mean you won’t be able to get a general idea of whether customers have been happy with the service they’ve gotten from a certain agent.

The internet is an excellent place to look for insurance agency reviews. Sometimes you can even learn about customer satisfaction by browsing the respective social media pages. If you’d rather not just pick an agent based solely on online reviews, ask people in your circle of friends if they could recommend an agent for you to meet.

Geographic Relevance

Many insurance agents help people in more than one state. Whether you decide to do business with a professional who works in one area or several, make sure that provider understands the area in which you live or work. For example, if you live in Virginia full time, it probably wouldn’t be smart to work with a Denver insurance agent, or to search in the state of Colorado at all. But if you reside in Virginia, have a branch of a company in Denver, and need business insurance, it makes sense.

Familiarity With the Industry and Coverage Options

An experienced insurance agent may make clients feel more at ease, but experience should not necessarily be your deciding factor when choosing a provider. It could be said once an insurance expert becomes familiar with his or her industry and the associated products, it doesn’t make a huge difference whether that person has nine years of experience or just one year. When speaking to an agent, try to gauge whether the individual seems to have a working knowledge of the available coverage and is able to help you budget for the required policies. If so, you should feel confident about beginning a business relationship with that professional.

Besides keeping these four things in mind, remember it’s usually not wise to get your insurance from a friend or relative who works in the industry. You may need to bring up personal matters with your insurance professional, and might not want to disclose them to people you know socially or through your family.

3 Helpful Ways to Compare Auto Insurance Quotes

How do you get the best car insurance rate? Do you ask your insurance provider or stick with your current package and hope for the best? Here are three ways to get you started when shopping for competitive auto insurance quotes.saving on your car

 

Shop Around and Compare

 

  1. Rethink your policy, says Bankrate. Many policyholders don’t make a savings on their car insurance rates because they’re loyal to the company they know and trust. In some cases, this means paying a higher premium. In the short term, it’s less hassle to stick with an insurer you’ve had for years. But in the long term, sticking with the same company isn’t the best for your finances. With hidden fees and charges, it can be hard to know exactly what you’re paying for.

 

Review every detail of your policy, and once you have, start exploring other options. Don’t get boxed in simply because you think it’s better to stay with the same insurance company. That only works if your rates stay constant or if you’re satisfied with the service. If you’re starting to have problems with both, then it’s time you started looking elsewhere.

 

  1. Shop around. If you’re thinking about getting a new policy with a different insurance provider, then start looking 60 days before your current one expires. Just make sure that when you do ask for a quote from another insurance company, they base the quote on your current coverage. If you’ve got a pretty excellent record so far—no driving accidents, consistent payments, etc.—then you should have a better chance at getting a lower quote.

 

However, your policy’s expiration date shouldn’t be the only reason to ask for a new quote. If you’ve gone through major changes in your life lately, then you need to check with your insurance provider for a new quote. For instance, did you just get married? Car insurance rates are typically lower for married drivers. So if you declare your marital status, that could get net you a lower insurance quote. However, if you’re finally adding your teen driver to your policy – still a more wallet-friendly than them getting their own policy – then you’ll need to be prepared to shell out more for the additional costs.

 

  1. Use comparison portals. The best way to get the insurance premiums you want is to compare car insurance quotes with sites like CoverHound. With an insurance comparison portal, you can easily get an idea as to what the average rates are in the market for the coverage you’re looking for. You can save time and money just by using comparison sites. Instead of going from one site to another, dialing an exhaustive list of numbers and needing to organize all that information to stack them up against each other, you can have it done for you. Eliminate the legwork and still find a policy that agrees with your budget and needs.

 

You can do something to change your monthly premiums – so look around. Today is a new day, filled with smarter financial decisions about your car insurance.

Looking Ahead: Five Types of Insurance That Save You Big in the Long Run

Insurance is a necessity to safeguard your assets. In the event of a car accident, fire, or medical emergency, having insurance is a way to make sure you don’t have to cover the costs yourself. So what kind of insurance policies should you have? These five types of insurance are important for everyone.

Looking AheadAutomobile Insurance
At least some level of auto insurance is required in all U.S. states, but you should consider purchasing more than the minimum liability insurance. If you are involved in an accident that causes injury or property damage, you could face an extremely costly lawsuit. Even if you are a phenomenal driver, accidents do happen and you will want to be insured. Choosing to skimp on your auto insurance saves a small amount of money in the short-term, but it could potentially cost you a lot more money in the long run.

Homeowner’s or Renter’s Insurance
Protecting your home or apartment is equally important. If you are a homeowner, replacing your home after a tragedy could be disastrous for your finances – the cost of insurance is miniscule in comparison. In addition, if your home is financed through a home mortgage, you may be required to purchase homeowner’s insurance. If you are renting, insurance is equally important. Even if your landlord doesn’t require you to purchase renter’s insurance, there are many other reasons you should open a renter’s insurance policy. For example, in the event of a fire in your apartment building, your landlord’s insurance policy will only cover the structural building. If your possessions are destroyed, being uninsured means you will have to pay the entire cost of replacing your property.

Health Insurance
Many young, healthy individuals neglect to purchase health insurance, but unfortunately this can have detrimental financial consequences in the future. A medical emergency or serious illness can rack up thousands of dollars in medical bills, and being uninsured means that you will have to cover these bills on your own. Furthermore, many health insurance companies can negotiate discounts with healthcare providers for their policyholders – meaning you also save money on your regular doctor’s visits and prescriptions. Check out healthcare.gov to get going.

Long-Term Disability Insurance
Nobody wants to think about the possibility of needing long-term disability insurance. It’s easier to think, “Oh that will never happen to me!” However, it would be a safe practice to have disability coverage that will allow you to continue your current lifestyle if you are unable to work.

Life Insurance
In the event of your death, you want to safeguard the financial security for the people who are dependent on you. If your parents, spouse, or children would suffer financially after your death, take out a life insurance policy that will replace the amount of your income. In addition, do not forget the cost of your burial, which can be an unexpected hardship.

Many people neglect their insurance needs. Buying insurance isn’t exciting, and it can be easy to think insurance is something you’ll never need. However, in the event of an emergency, you’ll be thankful that you planned ahead and purchased insurance.

13 Part-time Jobs With Benefits

pizza boyDo you want some good news on the employment front? Here it is: you can get employee benefits on many part-time jobs.

Most people assume that employee benefits mean full time employment only, but that assumption is proving increasingly false. Part-time employment is becoming more normal all the time as employers look to cut costs. But even as they look to reduce costs they still need to attract talented workers, and that often means providing benefits to their growing army of part-timers. In addition, many of the companies that pay benefits run “largely or even predominantly” on part-time staff. What better way to keep reliable people around
(and reduce hiring and training costs) than by offering benefit packages?

In fact, according to the US Government’s Bureau of Labor Statistics, 39% of employers offer retirement benefits to part-timers, 24% provide health insurance, 15% provide life insurance and 37% provide paid vacation time. And those are the numbers for private sector employers government jobs are generally far more likely to provide benefits.

Common employers who offer benefits to part-timers

There are a surprising number of popular employers who provide benefits to part-time employees. Here are 13 employers and a sample of the benefits each provides for part-timers, there’s an excellent chance that several are located where you live:

JP Morgan Chase

Benefits provided: medical, dental and vision insurance, life insurance and 401K (all after 90 days of employment). There are a host of other benefits that a part-timer may be entitled to, though the website doesn’t indicate specifically.

Starbucks

Benefits provided: 401K, health insurance, discounted stock purchase plan, tuition assistance and adoption assistance.

Whole Foods

Benefits provided: paid time off, 20% in store discounts for employee and immediate family members, profit sharing (Gain sharing), discount company stock purchase plan, and company stock option plan.

Barnes & Noble

Benefits provided: medical and dental insurance, 401K, 30% discount on their books (of course!) and paid time off.

REI

Benefits provided: medical, dental, accident and life insurance coverage even for temporary and seasonal employees, or those who work less than 20 hours per week. The company pays 60% of the cost of medical and the entire premiums for accidental and life coverage. There’s also a hint that part-timers may be eligible for discounts on company products (the product and service selection is wide) of up to 50%.

Home Depot

Benefits provided: medical, dental and vision insurance, short term disability and life insurance.

WalMart

Benefits provided: health insurance (extending to family members) and $4 co-pays on more than 2,000 generic prescriptions; a full range of benefits, including an employee stock purchase plan and 401K, but it isn’t clear if (and when) these benefits extend to part-time employees.

UPS

Benefits provided: the company website states UPS is one of only a few companies offering its part-time employees full benefits, from medical/dental coverage to tuition assistance.

Nordstrom

Benefits provided: The company website doesn’t specifically indicate benefits paid to part-timers but the retailer keeps coming up on lists of employers who do. Based on the website, those benefits are extensive, but which ones and to what degree they’re available to part-timers may vary from store to store (which isn’t unusual among retailers).

Aerotek (temporary agency)

Benefits provided: medical, dental and vision coverage for employee, spouse and children up to age 25. Eligible for contract employees working a minimum of 20 hours per week. Other benefits are available depending on the office location.

Walgreen

Benefits provided: paid vacation, 15% in-store discounts (20% on company brands), Flexible Spending Account for out of pocket medical and dependent care expenses, profit sharing and employee stock purchase program (10% discount on company stock).

Target

Benefits provided: part-time or limited benefit (pays up to a flat amount for certain medical procedures) package based on average hours worked and position at Target are available to part-timers. 10% employee discount that includes the pharmacy.

Municipal and county government jobs

Many county and local governments provide benefits to part-time employees. Henrico County, Virginia, for example, has a full menu of benefits, including paid holidays and sick time, deferred compensation, healthcare (minimum 20 hours per week) and dental coverage.

Never assume that an employer especially a large one doesn’t offer benefits to part-time employees. In fact, it’s a solid bet that the competitors of each of these companies are providing similar benefits as a way of completing for employee talent. In many cases the benefits won’t be as comprehensive as those offered to full time employees, but in general this will be a much more cost effective way of having benefits than having to get them on your own.

 

photo by krupp

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