Available online
Description
'It's an incredibly successful £5bn industry with 20 million customers. But it's so worrying consumer watchdogs that it's been called a "protection racket" - and you may well have been t...he victim. The most expensive protection Moneyfacts found was £1300. If you've ever taken out a mortgage or loan, or hold a credit card, you've probably been offered Payment Protection Insurance, or PPI as it's called. It's meant to help you if you become ill or get made redundant, so that you can meet your repayments, but all too often, it's letting people down. And the banks are making a fortune in profits on these much-criticised policies.'
'It's an incredibly successful £5bn industry with 20 million customers. But it's so worrying consumer watchdogs that it's been called a "protection racket" - and you may well have been t...he victim. The most expensive protection Moneyfacts found was £1300. If you've ever taken out a mortgage or loan, or hold a credit card, you've probably been offered Payment Protection Insurance, or PPI as it's called. It's meant to help you if you become ill or get made redundant, so that you can meet your repayments, but all too often, it's letting people down. And the banks are making a fortune in profits on these much-criticised policies.'
| Series: | The Money Programme |
|---|---|
| First transmission date: | 07-04-2006 |
| Published: | 2006 |
| Rights Statement: | |
| Restrictions on use: | |
| Duration: | 00:29:00 |
| + Show more... | |
| Director: | Dan Trelford |
| Contributors: | Alan Barry; Gill Barry; Stewart Dickey; Claire Doyle; Max Flint; Andrew Hagger; Mike Naylor; Lorenne Sturt; Mark Thomas; Jonathan Trafford; Peter Tutton |
| Publisher: | BBC Open University |
| Link to related site: | Website: http://www.open2.net/money/ |
| Subject terms: | Banks and banking--Great Britain; Finance, Personal--Great Britain |
| Master spool number: | BRD322965 |
| Production number: | LSGB341J |
| Videofinder number: | 7291 |
| Available to public: | no |
