Payment protection insurance criticised by Post Office
Tue, 11 Nov 2008
Millions of people in Britain are paying too much for for cover with payment protection insurance (PPI), according to the Post Office .

Recent research has revealed that one fifth of people that are in full-time employment have more than one PPI policy. The Post Office says that as much as £570 a year could be saved by replacing PPI with a single insurance product that would cover all major household bills .

Duncan Caesar-Gordon, head of protection at the Post Office, said: "PPI can be expensive and could be replaced by another form of cover, however insurance should not be discarded altogether, especially as the risk of unemployment rises."

PPI has frequently been criticised by the consumer group Which? who say it is expensive, carries restrictions and may cover only the minimum repayments, which means that a debt may never be cleared. Its personal finance campaigner, Doug Taylor, described credit card PPI as "modern day snake oil", calling it a "useless product, expensive and poorly designed".
add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Copy and Paste the following HTML into your page.
Critical Illness Cover

Critical Illness Cover

Protect your family should you become seriously ill or disabled.

Critical Illness Cover
Family Income Benefit

Family Income Benefit

Protect the family income with a family income benefit quote.

Family Income Benefit