Most cases we hear about payment protection insurance involve consumers with a mortgage loan that they believe their insurance policies were dated more than six years from the time of purchase. Despite the six-year time limit publicised by banks and other financial institutions, consumers can claim their complete refunds by understanding the following.

How Far Back?

In the news, banks claim a six-year time limit for PPI claims disallow consumers who were mis-sold and had completed PPI repayment in six years have no rights to reclaim their PPI refunds. This is false; the PPI policy has no end especially when the contract states that as long as the financial product is continuously paid, the insurance policy is still active.

Can You Claim PPI Without Paperwork?

Claiming PPI without your receipts is possible; the data access request, which costs about £10 per request, is essential in collecting all the information about a financial product that might be essential for your claim.

Data access requests also access sister company databases. For example, Lloyds’ other subsidiaries would look for other information about financial products linked to yours, or financial products you might have taken out for this purpose.

For an elaboration on claiming PPI without paperwork, click here.