Unnecessary and excessively-priced Payment Protection Insurance (PPI) has been packaged alongside credit cards, loans, mortgages and car financing by banks, lenders and brokers for the last 20 years. ...
The main problem with PPI was its sneaky inclusion without consumer awareness, accounting for £89 in every £100 of pure profit! Policies were often sold by un-trained sales staff, propelled by the likelihood of commissions. This devious incentive increased the recruitment of new customers who paid for worthless, costly coverage at the sake of another’s financial gain.
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