Post Office comment on payment protection insurance report

Thu, 10 May 2007

The Post Office, who have entered the financial services and insurance market in the last decade to great success, have commented on the research into payment protection insurance recently carried out by Which? The Which? research indicated that the industry was thick with underhand sales tactics, with non-compulsory insurance automatically added to many loans .

The head of communications at the Post Office, Claire Oldstein, reportedly commented: "Many customers have little understanding of payment protection insurance and some do not even realise they have this insurance in force. Others, who have been at the hands of aggressive sales tactics, can feel they have no choice but to take the expensive policy tied to a loan or credit card if they want their application to be accepted."

According to the Post Office, those customers who have personal loans with payment protection insurance as standard might be able to switch to get a better deal. The Post Office urges customers to challenge their loan provider over the cost of their payment protection insurance.
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