There are many types of insurance and each of them has a certain rate of claim acceptance. Not all the claims are immediately paid and accepted because in many cases some of the regulations of the policy were violated or the situations do not allow the insurance institution to repay in due time. But for more people than ever, the ppi claims are nothing better. The number of claims rejected seems to be really high compared to other types of insurance policies and many people simply do not understand the causes.
The main reason for ppi claims rejection is usually the fact that the policy in not underwritten in the stage of the sale. This means that the customer often buys it without thinking of their particular situation and also without reading the conditions. This may be true as many loan companies tend to push this insurance in the face of their prospect clients who are really eager to get the loan under any circumstances given.
It is vital for the future loaner to get some advice from the specialists in insurance and not jump to the first policy proposed. In this way the creditor will be forced to see into the specific situation and offer something which can be applied to that specific case. It is good to read first before signing, because the policy may be not in the advantage of the client and adjustments need to be made. If this is the case, there is always the possibility to choose a different type of insurance, more suitable for the given situation.