Insurance

How To Determine The Premiums For The PPI Policy

Before you sign the loan agreement with your bank, ensure that you know the terms and conditions of the loan. This way when claiming for the refund of your premiums a PPI Claim Calculator can be used to calculate the refund due to you. This is because when you sign the loan agreement you are supposed to agree on the rate of interest to be applied when calculating your premiums refund. It is good to opt for the prevailing market rate of interest to be applied. Interest rates keep fluctuating every now and then. As such, ensure that you opt for the prevailing market rate of interest because you are most likely to reclaim your premiums refund when you finish repaying the loans which could be more than ten years to come. This way, the claims company can use the PPI calculator to compute your refund. The reason why you should claim for a refund of your premiums through the claims companies is that they are very efficient in service delivery. As such, you are likely to get a refund of your premiums within the same week when you apply. Remember you do not have to wait till you finish repaying your loan or mortgage. You may claim for a refund of your premiums at anytime.

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