Armed forces personnel have cover for sickness, accidents and unemployment built into their salaries.
This protection means that if a member of the armed forces was unable to work due to one of these reasons, they would still be able to meet any mortgage, loan or credit card repayments they had.
As a result, extra insurance policies would not have been appropriate.
However, many banks sold insurance policies such as Payment Protection Insurance (PPI) to members of the armed forces – and to millions of other people in the UK – over the last few decades.
The courts have since ruled that such actions were unacceptable, and determined them to be a form of mis-selling. As such, banks who have mis-sold PPI or other financial products are facing millions of claims for compensation, including from armed forces personnel.
If you think you were mis-sold PPI, then you should consider making a claim to receive compensation. The amount of compensation paid out for mis-sold PPI can vary considerably from person to person.
