PPI is a convenient abbreviation for NatWest Payment Protection Insurance. PPI is often used to refer to any insurance policy designed to help borrowers insure their payments, including NatWest Income Protection (IP), NatWest Loan Protection Plan (LPP), NatWest Mortgage Payment Protection (MPP), NatWest Mortgage Payment Protection Plan (MPPP), NatWest Overdraft Protection, NatWest Packaged Bank Accounts which include Payment Protection Insurance, NatWest Accident Sickness & Unemployment cover (ASU), NatWest Payment Protection Plans (PPP) plus numerous other names NatWest have used, which may include the words Payment, Income, Protection, Accident, Unemployment, Redundancy, Sickness or Income.
PPI is supposed to cover your monthly payments if you are unable to work. However, according to the Citizens Advice Bureau, 85% of people who are unable to work discover they cannot claim any money due to exclusions in the small print. Your NatWest Bank, card statement, Bank statement or Loan agreement should list PPI (or whichever name NatWest have used to describe it) as a separate charge which is the quickest way to find out if you have a PPI.
NatWest use different names for their PPI and some people are unable to find their paperwork. If you are unsure, or cannot locate or understand your NatWest paperwork, simply click on our How Much Can You Claim link or telephone us on 0207 046 6300.