Consumer credit insurance (CCI) is an insurance product that covers the risk of not repaying a loan or buying something because of an unexpected event. CCI is supposed to protect you in the event that you cannot pay for your mortgage or car etc.

A lender may offer consumer credit insurance as part of the loan agreement or separate from the loan agreement. This type of coverage can help you reclaim lost wages if you cannot work due to medical issues, injury, or death. Consumer credit insurance can also be used for car loans and mortgages.

How is CCI Mis-Sold?

Some of the mis-sells you may have experienced are below.

  • The sales agent was pushy when trying to sell you the product. It is important to not allow yourself to get trapped in a pushy sales speech. 
  • The sales agent made it seem like the insurance was mandatory in order to get the loan. 
  • It was added to your paperwork without you even knowing or even agreeing to it.
  • You were sold the product even though you would not have been eligible to claim such as you were unemployed or casual or already ill
  • You were sold the insurance even though you were already covered by another policy which could have been through another insurance or employment.

It is important to note that not all IFA’s are bad and the majority have your best interest at heart, however, if you have been unlucky enough to experience a mis-sell you should be aware that you may be able to claim redress. If some or all of the bullet points above match your circumstances then feel free to get in contact with RTR Claims, they work on a No Win, No Fee basis so you have nothing to lose and everything to gain. 

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