Payment Protection insurance.

solaros1981

Hi.
Can somebody explain me what exactly PPI on my credit card covers?
I know it covers in case of death, disability or redundancy.
What if I lost my job?
Does it cover anything?

I pay ppi for years, never used it, even didn't know what it was.
Last week I got letter from BOI saying about PPI on my account.
When I tried to reach BOI customer service, I have been told to call AXA directly.
When I called AXA, I have been told do call BOI.

I pay approx 20€ a month.
Does it cover anything in case of loose a job?

Bank of Ireland: Megan

solaros1981 wrote: »

Hi.
Can somebody explain me what exactly PPI on my credit card covers?
I know it covers in case of death, disability or redundancy.
What if I lost my job?
Does it cover anything?

I pay ppi for years, never used it, even didn't know what it was.
Last week I got letter from BOI saying about PPI on my account.
When I tried to reach BOI customer service, I have been told to call AXA directly.
When I called AXA, I have been told do call BOI.

I pay approx 20€ a month.
Does it cover anything in case of loose a job?

Good morning solaros1981,

Thanks for getting in touch with us here on Boards.ie.

Details of Cover

• Should you be unable to meet your credit card payment due to accident, illness, unemployment or death, payment protection insurance will repay a percentage of your monthly balance up to a maximum per month.


• The premium for this cover is just €0.70/€0.80 (depending on card type) per month for every €100 outstanding on your account each month. Payment Protection can only be taken at the time of applying for the credit card.
The premium is applied monthly to the credit card account.


•Payment protection will cover a maximum balance on the account of €15,000. Any balance on the card over this amount is not covered. Customers with balances over 15K are only charged the premium to a max of 15K of the balance


• Unemployment cover does not apply for self-employed Customers or contract Customer.

[font=Calibri, sans-serif]You can obtain a claim from Genworth Financial by telephone on (061) 737373.

The Terms and Conditions of the PPI is available on the AXA Website.
[/font]
I hope this information helps. 

Many thanks,
Megan

solaros1981

Bank of Ireland: Megan wrote: »

Good morning solaros1981,

Thanks for getting in touch with us here on Boards.ie.

Details of Cover

• Should you be unable to meet your credit card payment due to accident, illness, unemployment or death, payment protection insurance will repay a percentage of your monthly balance up to a maximum per month.


• The premium for this cover is just €0.70/€0.80 (depending on card type) per month for every €100 outstanding on your account each month. Payment Protection can only be taken at the time of applying for the credit card.
The premium is applied monthly to the credit card account.


•Payment protection will cover a maximum balance on the account of €15,000. Any balance on the card over this amount is not covered. Customers with balances over 15K are only charged the premium to a max of 15K of the balance


• Unemployment cover does not apply for self-employed Customers or contract Customer.

[font=Calibri, sans-serif]You can obtain a claim from Genworth Financial by telephone on (061) 737373.

The Terms and Conditions of the PPI is available on the AXA Website.
[/font]
I hope this information helps. 

Many thanks,
Megan

Thank you Megan.

I rang them but they said I should contact my credit card provider.
Earlier I rang BOI and they sent me to insurer's company.
Then AXA sent me to BOI.

So if I lost my job that PPI should cover my credit card minimum monthly payment?
Am I right?

Should I call them again?


Lucas

Bank of Ireland: Megan

solaros1981 wrote: »

Bank of Ireland: Megan wrote: »

Good morning solaros1981,

Thanks for getting in touch with us here on Boards.ie.

Details of Cover

• Should you be unable to meet your credit card payment due to accident, illness, unemployment or death, payment protection insurance will repay a percentage of your monthly balance up to a maximum per month.


• The premium for this cover is just €0.70/€0.80 (depending on card type) per month for every €100 outstanding on your account each month. Payment Protection can only be taken at the time of applying for the credit card.
The premium is applied monthly to the credit card account.


•Payment protection will cover a maximum balance on the account of €15,000. Any balance on the card over this amount is not covered. Customers with balances over 15K are only charged the premium to a max of 15K of the balance


• Unemployment cover does not apply for self-employed Customers or contract Customer.

[font=Calibri, sans-serif]You can obtain a claim from Genworth Financial by telephone on (061) 737373.

The Terms and Conditions of the PPI is available on the AXA Website.
[/font]
I hope this information helps. 

Many thanks,
Megan

Thank you Megan.

I rang them but they said I should contact my credit card provider.
Earlier I rang BOI and they sent me to insurer's company.
Then AXA sent me to BOI.

So if I lost my job that PPI should cover my credit card minimum monthly payment?
Am I right?

Should I call them again?


Lucas

Thanks for getting back to me Lucas.

To confirm specifics about your cover, I would recommend contacting your insurance provider. If you have any questions on our side, our Credit Card Team are available at 1890251251. One of my colleagues will be happy to help.

Many thanks,
Megan