How Is RAF Compensation Related To PPI?
The members of Royal Air Force are referred to as civil servant who has the right to claim RAF Compensation. What is RAF compensation? It is one of the compensation that will be given to the members of RAF in the event of sickness, injury or in other such events. This compensation proves to be helpful in difficult times of RAF members. This compensation is given to these members as they are the civil servants and government needs to take care of them. Even though such facilities are given to the members there are times when members of Royal Air Force need to take credit from banks or creditors. The credit agreement taken by banks or creditors can be in the form of credit cards, car finance or mortgage. Taking this is the need. But then there are some of the banks that offer PPI policy with the credit agreement. This is something that is not required. To know why this PPI policy is not required you will have to know what PPI is. PPI is basically Payment Protection Insurance policy. This is the insurance policy that will cover the civil servant who ahs taken credit agreement against the sickness, injury, etc. As mentioned earlier this is something that the members of RAF are already getting in the form of RAF Compensation. Now the question is PPI is really required. The answer is NO! When RAF members have RAF compensation and PPI it will be double coverage which is not required as this is will be useless. It is important for you to know whether PPI is added to your credit agreement or not. It is usually stated that members who already have taken credit agreement for more than ten years will have higher chances of having PPI. Banks or creditors might have mis sold this policy in order to make profits out of it. This can be advantageous for banks or creditors but not for the members as they already have RAF compensation.
There are lots of sites online that can help you to know whether PPI has been added to your credit agreement or not. Once you are know from these sites you can claim for around eight percent compensation from them. Enjoy RAF compensation and get rid of PPI as soon as possible!