The Post Office has launched a payment protection insurance (PPI) despite industry experts being war...
The Post Office has launched a payment protection insurance (PPI) despite industry experts being wary of its value. The Post Office's product, Lifestyle Protection, is designed to be more flexible and fairer than standard PPI products. Alan Cook, managing director at the Post Office, said: "There are widespread concerns that people taking out PPI are unfairly treated. We want to change that." Lifestyle Protection covers back and stress-related conditions and payment for up to 12 months. The Post Office's announcement follows an investigation into the PPI market by the Office of Fair Trading and also strong criticism from the Financial Services Authority last year. PPI is often mis-bought by customers that are unaware they can not claim from it or that it provides only limited cover.
