Britannia Building Society PPI

By | September 30, 2017

Britannia Building Society payment protection insurance (PPI), which also known as loan repayment insurance, credit insurance or credit protection insurance was designed so that the borrower could make repayments to Britannia Building Society if they were unable to earn income to service the debt for instance due to becoming ill or unemployed. This shouldn’t be confused with income protection insurance which is not usually attached to a debt. PPI was widely sold by Britannia Building Society as an add-on to the loan or an overdraft product.

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Britannia Building Society PPI usually covered payments for a minimum of 12 months, this gave the borrower enough time to find alternative means of making repayments such as going back to work.

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