Cell phone protection insurance from credit card for monthly bill payment for prepaid plans

Has anyone used cell phone protection insurance offered by Mastercard when monthly Cellular Telephone Bill is paid using credit card for prepaid services?

As per their terms and condition:
A copy of the Mastercard account statement supports the payment of the Cellular Telephone Bill. Note: The statement must reflect the recurring cell phone charge on the month prior to the date of loss.

Details are here https://us.mycardbenefits.com/Glossary/Glossary?cd=en

πŸ‘︎ 5
πŸ’¬︎
πŸ‘€︎ u/thinkingActor
πŸ“…︎ Dec 02 2020
🚨︎ report
Husband pays for β€œSprint Complete - protection for smartphone - includes insurance” for $19.00 a month per his bill. He owes 1 or 2 more payments on his iPhone and the Face ID just stopped working.

My husband got the XS Max brand new when they came out. He pays for β€œSprint Complete - protection for smartphone - includes insurance” for $19.00 a month per his bill.

He owes 1 or 2 more payments on his leased iPhone. He had full intentions of buying it, getting it unlocked, and leaving Sprint for us to find a plan (probably prepaid) together.

His Face ID on it just went out. We don’t know how to fix it. He doesn’t have Apple Care. We haven’t talked to anyone about it. I saw a YSK post that said Sprint had added charges to bills that weren’t supposed to be there and found that he does pay the money per month for the insurance.

Worst case scenario: They agree to swap phones but want him to pay for the new phone. (He’d deal with the Face ID not working tbh)

Best Case Scenario: (Which seems too good to be true) Sprint replaces the iPhone with an equal & he pays his 2 payments + the buying price, and he leaves for us to get a plan together.

Does anyone have any experience on what exactly Sprint would do in a situation like this? Would they replace the phone? Does this even qualify under the insurance considering the phone is still usable? Obviously this is an Apple issue but would Sprint be required to fix it?

TIA

πŸ‘︎ 7
πŸ’¬︎
πŸ‘€︎ u/anonymous19870
πŸ“…︎ Feb 22 2020
🚨︎ report
CIBC Payment Protection Insurance- anyone have luck getting re-reimbursed?

Hi everyone,

I'd really appreciate some advice. My brother has just come across this random amount on his Visa bill- Payment Protection Insurance.

I've had him look on previous bills, and sure enough each month they've been taking a sum based on the balance owing. This month it was in the region of $80. After scolding him for not paying closer attention to his monthly charges- I promised I'd do what I could to help. It's been going on for a while, maybe over year. He is ADAMANT that he never agreed to or asked for this type of coverage.

Important note- after living in the UK through the financial crisis I became aware that there was a massive backlash against the UK banks for duping unsuspecting clients into accepting these completely unnecessary (and most times, unusable insurance charges- banks have had to have bailouts after needed to repay BILLIONS to its customers (PPI Scandal) . In the UK it is very easy to recover ALL of the payments that were taken, but I am unaware if Canada has a similar method of recovering funds?

Any help much appreciated!

Update!

After this was investigated by CIBC, it turned out to be the case my brother had never signed an agreement for this coverage!! CIBC have agreed to refund the entire amount that had been taken without consent over 2 years (nearly $900) plus an additional $100 for their error. I truly wonder how many other people have had this done to them without their knowledge.

πŸ‘︎ 17
πŸ’¬︎
πŸ‘€︎ u/masterinthemaking
πŸ“…︎ Nov 16 2018
🚨︎ report
Mediation with Wells Fargo, Collateral Protection Insurance payment?

The check is for $8.5k

They apparently illegally forced me to pay for insurance which is run through an insurance company they partner with and one of their subsidiaries collected commission off of the referral which I was not allowed to refuse.

I paid for Collateral Protection Insurance (See here for info) https://www.wellsfargo.com/commitment/cpi-payments/

The vehicle, a 2009 Mercedes C300 Manual Sport, clutch went out, was replaced for ~$1200, less than 2 months later the clutch disk broke while I was traveling at 65-70 mph on the freeway, the car began to rattle violently, I had no breaking power because the master cylinder and breakline share the same resevour on this vehicle so there was no break pressure. I somehow drove the vehicle to the side of the freeway where I rolled to a stop and had to pull the e-brake to avoid hitting a cement barrier. I don't have any idea how me and my partner at the time weren't seriously injured.

This incident casued damage to all of gears, snapped drive axel shaft, and cracked the windshield leaving the vehicle totalled. Insurance wouldn't pay for the vehicle because no "accident" occurred. It was my transportation for my job (Uber, Lyft, Postmates).

With this vehicle becoming damaged I lost my income source, and couldn't afford to make my payment, I used a credit card to pay for the first clutch replacement. Over the next couple months I defaulted on all of my accounts ~10 (including negative bank account balances, the auto loan, credit card used for clutch, and some other accounts).

I had no emergency savings and was brought to gig work after leaving s job. Basically came to the point where I was railroaded financially. CPI should have covered the cost of the defaulted loan.

There is an option to mediate, I totally wasn't expecting any of this and literally just found out they've deleted the defaulted balance and are reimbursing me for losses when I got home to this check in the mail.

Should I mediate with them because this loan and vehicle destroyed my financial situation for over 4 years?

I just worked through all my debt snowball ~$15000 (after repo fees and late fees compounding on those accounts) and had Wells Fargo loan in my sights as my final debt. I'd bitten the bullet and half already paid the loan down to less than half of the final debt payments after the repo. I'm just so thankful that the loan has been erased from my life. Is it greedy to ask for more? This is literally the most money I've

... keep reading on reddit ➑

πŸ‘︎ 5
πŸ’¬︎
πŸ‘€︎ u/riley-thomas
πŸ“…︎ Feb 28 2019
🚨︎ report
TIL during the Golden Age of Piracy, many pirates set up social safety net programs such as disability payments for injuries sustained while at sea, as well as life insurance to be paid to a pirate’s family if they died. latimes.com/archives/la-x…
πŸ‘︎ 5k
πŸ’¬︎
πŸ‘€︎ u/kevlarbuns
πŸ“…︎ Jan 08 2022
🚨︎ report
"Have you been mis sold Payment Protection Insurance?"
πŸ‘︎ 213
πŸ’¬︎
πŸ‘€︎ u/Guesty_
πŸ“…︎ Aug 23 2012
🚨︎ report
"Hello. This is an urgent message regarding your Payment Protection Insurance."

Seriously, just fuck off.

πŸ‘︎ 233
πŸ’¬︎
πŸ‘€︎ u/WonkaCheeseburger
πŸ“…︎ Jul 05 2012
🚨︎ report
[WP] Instead of granting mortals power in exchange for taking their soul upon death, one demon offers to protect a mortal's soul should it end up in Hell in exchange for regular payments during life: he calls it "Soul Insurance".

...wait, isn't that just a religion?

πŸ‘︎ 84
πŸ’¬︎
πŸ‘€︎ u/tatticky
πŸ“…︎ Jun 04 2021
🚨︎ report
Does Mortgage Payment Protection Insurance count as PPI for reclaiming?

About 12 years ago, my old IFA suggested that it would be a good idea to take out Mortgage Payment Protection Insurance. At the time I wasn't so financially literate. I pretty much forgot all about it until a few days ago, when I got a 'review' letter from them - and now I'm looking into it further.

Frankly, it seems like a shitty deal. I'm paying nearly Β£45 a month for a product that would cover my mortgage payments for just one year if I became sick or unemployed, and with so many exclusions that it's basically worthless. I'm cancelling it first thing on Monday, but I'm now wondering if this counts as PPI for the purposes of reclaiming.

The company is PaymentShield if it matters.

Does anyone know whether this is something that's worth pursuing, or is MPPI excluded from this kind of claim?

πŸ‘︎ 9
πŸ’¬︎
πŸ‘€︎ u/fsv
πŸ“…︎ Feb 17 2018
🚨︎ report
Mortgage Payment Protection Insurance - When to start?

I'm in the middle of sorting out the purchase of my first home. As part of this, I have arranged for MPPI to go alongside my mortgage, to cover the mortgage in case something bad should happen to me.

However, I don't know what date my MPPI cover should start. Should it be from the Exchange of contracts, or from the date of closure? Or another date entirely? I asked my solicitor, but she said that she was not sure, as they normally don't get involved in that side of the proceedings.

πŸ‘︎ 2
πŸ’¬︎
πŸ‘€︎ u/purplehaze150
πŸ“…︎ Oct 11 2018
🚨︎ report
I just got a refund of $500 from TD for Balance Protection Insurance I didn’t sign up for

TLDR: Found out I have useless credit card insurance, told them I never signed up for it, they gave me a full 4 year refund without me even asking. You should check if you’re unknowingly signed up too.

I was switching to a different TD credit card today and the TD employee on the phone was telling me about my credit card services that are transferring to the new card. He mentioned balance protection insurance, which I was surprised to hear because I’ve never heard of it before and it sounded like something you have to pay for.

I later searched it up and found this CBC article:

https://www.cbc.ca/news/canada/nova-scotia/banks-insurance-credit-cards-unauthorized-charges-1.5444303

Whether or not I knowingly signed up for this insurance, it would’ve been when I was 18 and first got a credit card. As a result I phoned TD and they put me through to the balance protection insurance department. I mentioned how I don’t remember ever signing up for the insurance and it sounds like something I’d never be interested in, even currently. The employee asked me if they could tell me more about the insurance but I declined as I was not interested in it. They cancelled my plan and also gave me a full refund of all the payments I made for it since I signed up, which was $500

I suggest checking with your credit card provider if you are currently signed up for this insurance, and if it not something you’re interested in continuing paying for or if you don’t even remember signing up it, ask for a full refund.

Edit: If you’re not sure what balance protection insurance is, it basically would cover your minimum payments on your credit card balance if you were to become sick or injured and couldn’t work. To someone like me that has autopay set up and never pays interest on credit cards, it sounds like a fat pile of BS.

πŸ‘︎ 105
πŸ’¬︎
πŸ‘€︎ u/SwingTheChooch
πŸ“…︎ Jan 10 2022
🚨︎ report
I was woken up at 02:45 by a text asking if I was mis-sold Payment Protection Insurance.

Am I the only one feeling a bit ... stalked? I've never taken out PPI in my life, never registered interest in pursuing a PPI claim with anyone, ever. But I'm getting at least one call or text a day from someone who is desperate to make a claim on my behalf. Is there some polite way to ask them to please hurl themselves from the nearest tower block?

πŸ‘︎ 136
πŸ’¬︎
πŸ‘€︎ u/biskino
πŸ“…︎ Feb 16 2013
🚨︎ report
BitdriveInc - complete data protection, decentralized insurance system, flexible payment and much more, join #https://bitdrive.tech
πŸ‘︎ 4
πŸ’¬︎
πŸ‘€︎ u/cryptobali22
πŸ“…︎ Jul 06 2018
🚨︎ report
What's your monthly insurance payment?

Kinda curious to see what some people are paying. I've seen people pay some outrageous amounts of money per month for their insurance.

Mine is $80 CAD per month with All State with a BK1 3.8 GT

πŸ‘︎ 13
πŸ’¬︎
πŸ‘€︎ u/TheEx006
πŸ“…︎ Jan 04 2022
🚨︎ report
bitdrive - FLEXIBLE PAYMENTS OPTIONS USE BTD, BTC, ETH, USD, ABSOLUTE PERSONAL PROTECTION OF DATA, BUILT-IN DECENTRALIZED INSURANCE SYSTEM, BUY TOKENS. #https://bitdrive.tech
πŸ‘︎ 3
πŸ’¬︎
πŸ‘€︎ u/cryptobali22
πŸ“…︎ Jul 16 2018
🚨︎ report
Hope for the Best, Prepare for the Worst - An Overview of the Securities Investor Protection Corporation, SIPC Insurance, and How it May Impact MOASS

Even if you only own one share of GME, if you are not familiar with direct registration of your investment, I recommend reading this post first - https://www.reddit.com/r/Superstonk/comments/ptvaka/when_you_wish_upon_a_star_a_complete_guide_to/

I hope my E*Trade DRS from 9/23 completes soon, but after my 3rd discussion with the broker yesterday stating the FTD of my shares will last another 4 days, I began preparing for the worst. I started digging more into SIPC insurance and the broker liquidation process. In the last E*Trade 10Q (p.14) prior to being acquired by Morgan Stanley, they held $782 Billion in customer assets. Before the GME saga, I could not fathom a situation where Etrade would need to be liquidated. This is no longer the case. There is a chance Etrade has Failed To Receive (FTR) and/or created quasi-CFD's (Contract for Difference) with GME purchased/internalized through their brokerage. They claim the failure to deliver DRS and ACATS transfers of GME shares is due to an extreme system backlog of transfer requests. I hope this is true, however, I am not certain it is true. As a result, I've spent the last several days digging into SIPC insurance to better understand what will happen to my account if another "idiosyncratic risk" event, such as Jan 2021, occurs and results in a liquidation. I made a post last week about my concerns with E*Trade if you want more background information. I am not a financial advisor, this is not financial advice. This post is intended to be educational for those wanting to know more about SIPC.

The Securities Investor Protection Corporation provides SIPC insurance to participating brokers. What SIPC Insurance Protects -

>SIPC protects against the loss of cash and securities – suc

... keep reading on reddit ➑

πŸ‘︎ 1k
πŸ’¬︎
πŸ‘€︎ u/myplayprofile
πŸ“…︎ Oct 07 2021
🚨︎ report
Advice needed - Aging Broke Inlaws - Insurance/ Protection

Hi there, I'm hoping for some advice please.

My inlaws live in the US. My spouse and I are in another country and have no intention of moving back to the US.

My inlaws live week to week. My FIL is early 70s and still working. He is unwell and I don't know how much longer he will last.

My MIL (early 60's) refuses to work, always has. Every time we bring up finances, plans for ageing etc she throws a tantrum and screams, cries etc at us. We believe she is a narcissist. We had people warn us about her in our early years of marriage. We have been treated terribly by her over the years and moved far away, to my home in another country.

My husband and I will be the ones who will end up paying for their poor decisions. There are no other siblings. No matter what poor financial decisions they make, when they are old and can't work my husband will make sure they are ok. My husband and I are in our 40s and have worked full time for the last 2 decades. We are secure financially. I don't want my inlaws to ruin our retirement plans from the choices they have made.

My question: Who do I get advice from about planning for them? I am thinking about long term care insurance for my MIL. I don't ever intend to move there and care for her as she ages. I also don't want to be stuck with the nursing home bills if it ever gets to that. I don't know who to get advice from about affordable housing and how to make sure they will be looked after. Should we look into life insurance for them, with us as the recipients to cover ourselves? Should we take out a long term care insurance plan for my MIL?

My FIL is too sick to get any kind of insurance, and my MIL will have to look after him.

This would all be easier had my MIL been nice to us over the years. The abuse has been toxic and my spouse and I have been to see a therapist a few times individually and together to learn to deal with the behaviours. The thought of paying for her when she refuses to work, or look after her in years to come fills me with dread. My FIL is a wonderful man, just scared and his work is his safe place.

Where do I start with planning for two broke people? My husband and I will be paying premiums, but we don't want to mess up their chances of stuff like affordable housing, medicaid etc. I have no idea how it works the US. They won't plan, so we have to - to protect ourselves.

πŸ‘︎ 9
πŸ’¬︎
πŸ“…︎ Dec 25 2021
🚨︎ report
Is income protection Insurance generally considered a good idea or a bit of a scam?

My wife and I are 30 and recently had a child. My wife is self employed and I work a relatively accident prone job. We’ve each taken out an income protection insurance policy recommended by our IFA.

The policy pays out our current monthly income in the event that we become injured in such a way that prevents us from doing our specific occupations whether it be for a year or for the rest of our lives.

The premiums are around Β£40 per month with our annual incomes each being just a bit more than Β£20k.

I suppose I’m just looking for reassurance as to whether or not this was a good idea (I know that’s a very subjective question) from people who probably have a good finger on the pulse of these types of things. Does anyone on this sub have any experience with these of policies? Are they considered a waste of time?

Edit: Thanks very much for all the replies, they’ve been incredibly insightful, helpful and made me feel more reassured about the policy as a whole.

πŸ‘︎ 36
πŸ’¬︎
πŸ‘€︎ u/_mister_pink_
πŸ“…︎ Nov 30 2021
🚨︎ report
Anyone purchase protection/insurance?

So far I am loving this laptop, and I am planning to keep it for a while (main purpose in getting it and hoping for cool/needed upgrades). I was wondering if anyone purchased any protection or insurance and/or who they went with? I usually use SquareTrade, I think the are owned by AllState now. The SquareTrade plan that covers up to 2k was $339.

πŸ‘︎ 7
πŸ’¬︎
πŸ‘€︎ u/rjgonza
πŸ“…︎ Jan 08 2022
🚨︎ report
How do banks pay their taxes? UK banks Payment Protection Insurance (PPI) compensation fund reaches Β£20billion. A swindle big enough to pay all their Corporation Tax for years. blog.rippedoffbritons.com…
πŸ‘︎ 2
πŸ’¬︎
πŸ‘€︎ u/LogJamAxe
πŸ“…︎ Jun 12 2014
🚨︎ report
New to all insurance things. What would be a good company (or two?) to get all my insurance needs covered? I (think) I want life, critical illness, income protection. Should I look into something else?

Got a good raise with the new job (they do not offer any coverage, the previous one was Vitality, but I never claimed and I think they're extortionate, like Β£100/month). So I thought I'll sort the insurance things myself.

What insurances I should be looking into?

- newly married

- barely under 40

- no kids

- no mortgage for now, but probs in 2 years

- no car

πŸ‘︎ 3
πŸ’¬︎
πŸ‘€︎ u/ozyri
πŸ“…︎ Jan 10 2022
🚨︎ report
AITA: Newly Married - Car insurance payment but spouse doesn't drive

I recently married my spouse (within the last year) and we previously lived together for 5 years leading up to that. We live in NYC and while my spouse has a drivers license, my spouse never learned how to regularly drive. I could count on one or maybe two hands the amount of times my spouse drove within a 5 mile radius of our home or a short drive elsewhere.

We recently bought a new car and split the monthly payment. We also recently started splitting gas expenses. While I did most of the market research and dealership inquiries, they were involved in the general type and direction of the car purchase.

Additionally, we've always split everything 50/50 (utilities, rent, groceries, trips, entertainment, health, dog, etc). As we start considering the purchase of a house, I began creating a budget and noticed that my car insurance bill is north of $1,000 a year. I approached my spouse on the topic of splitting my car insurance with consideration to me driving us 99% of the time, and particularly trips that are solely for my spouse (appointments, shopping, etc). My spouse immediately disagreed and said they don't feel responsible for paying for MY car insurance. This led to an intense discussion about driving and bills and other circumstantial events.

One thought I shared was that my spouse should learn how to drive and get on my car insurance and then we can "split" the bill. My spouse claims that they always wanted to learn how to drive but I simply "never taught them".

I believe it's on the individual to show the effort in trying to learn, not [me] to try and inspire or motivate the other way around. Honestly, I am generally nervous as my spouse never drove on a proper highway, and it's always been my fear a wreck or something serious happening.

Needless to say my spouse is still defensive and says that I would still have to pay for my insurance anyway so what does it matter. AITA for being upset and frustrated at the decision to not split my insurance yet I am constantly the only person that drives?

Edited to remove gender biases.

πŸ‘︎ 6
πŸ’¬︎
πŸ‘€︎ u/ay_ay_ron1
πŸ“…︎ Jan 06 2022
🚨︎ report
I just received a rather nice sum of money from a credit card company that had mis-sold Payment Protection Insurance (PPI), how should I use it?

So I wrote a complaint to Barclaycard as I had taken out PPI some time ago apparently. After arguing this, I've been awarded just under Β£3,000 compensation!

Before I get all Frodo and the ring about the cash and start spending it stupidly, I'm wanting to use it to pay off some debts before the cash starts to burn a hole and I must use it.....must spend the precious. See? It's happening already.

I have 2 credit cards, both with about Β£2,500 on them. One is quite low interest, one is quite high. I've also got the possibility of a Β£400 repair to my car coming up (though still working on that).

I've been using the snowballing method and just paid off one card so should I just use the money to pay off the next card (that's got higher interest, since their balances are near enough the same) or make sure I've got the Β£400 spare that isn't out of my own pocket and only pay off most of the balance?

πŸ‘︎ 7
πŸ’¬︎
πŸ‘€︎ u/jads
πŸ“…︎ Nov 09 2012
🚨︎ report
What type of insurance do I need if I want protection from theft of items in my car?

I'll be living out of my car with all of my possessions for most of next year, and due to my job I will also need to leave my car parked outside and unwatched for long periods of time while I'm out in the field working. I'm worried about someone breaking into my car and stealing all my stuff while I'm away.

I've done a bit of research but am having trouble finding any answers. What type of insurance would offer coverage of items stolen out of a car?

Thank you for the help! I really appreciate it.

πŸ‘︎ 7
πŸ’¬︎
πŸ‘€︎ u/MooseBoy314
πŸ“…︎ Dec 22 2021
🚨︎ report
Said something stupid after my motorcycle was stolen. Will this mess up my theft protection with my insurance company?

To make a long story short, my motorcycle was stolen. When I called the police, I told them I forgot to lock it that night. I have comprehensive coverage, but I'm wondering if the insurance company will try to use that as a reason not to cover the theft. Or are they obligated to cover the theft regardless?

Thanks

πŸ‘︎ 5
πŸ’¬︎
πŸ‘€︎ u/yellowfinsoul
πŸ“…︎ Dec 31 2021
🚨︎ report
Do I need an emergency fund if I have income protection insurance?

As title says - I have income Insurance which covers illness/disability. I'm a nurse, so can't see myself not having work due to being laid off, etc (I'm good at my job).

Do you still think I should have an emergency fund?

I'm in Australia, if that makes any difference.

Thanks!

πŸ‘︎ 19
πŸ’¬︎
πŸ“…︎ Dec 18 2021
🚨︎ report
Why does everyone want to help me with Payment Protection Insurance? (PPI)

Every single fucking day I get a phonecall or email from some robot offering me help to reclaim mis-sold PPI FREE OF CHARGE

Why do these companies want to help me so desperately? What's in it for them?

πŸ‘︎ 5
πŸ’¬︎
πŸ‘€︎ u/dpaddyb
πŸ“…︎ Nov 26 2014
🚨︎ report
are Toyota's extra insurances and protections worth it?

When buying a new Toyota they offer a bunch of added things, Protect Plus, STA, VRP, regular insurance. Are these worth getting?

πŸ‘︎ 3
πŸ’¬︎
πŸ‘€︎ u/mjnoo
πŸ“…︎ Jan 13 2022
🚨︎ report
Demutualization Benefit Payment- Economical Insurance

I just got a cheque from Economical Insurance co for over $1,000 as part of a "demutualization"

Is this legit? It sure looks legit.

I dealt with them, but it was years and years ago, and have no records any more :(

An extra $1,000 at Christmas is a nice bonus. I thought that only happened in Hallmark movies

I just thought I would put it out there in PFC world to see if anyone else got something similar

πŸ‘︎ 18
πŸ’¬︎
πŸ‘€︎ u/ClunkyRider
πŸ“…︎ Dec 15 2021
🚨︎ report
Why Payment Protection Insurance Is a Growing Necessity for Investors (posting this after commenting on the post about another financial crisis) money.usnews.com/money/pe…
πŸ‘︎ 3
πŸ’¬︎
πŸ‘€︎ u/Usernamemeh
πŸ“…︎ Dec 29 2015
🚨︎ report
I may have been miss-sold Payment Protection Insurance.
πŸ‘︎ 15
πŸ’¬︎
πŸ‘€︎ u/nitramnaes
πŸ“…︎ Jul 24 2012
🚨︎ report
Payment Protection Insurance.
πŸ‘︎ 28
πŸ’¬︎
πŸ‘€︎ u/Dead_Ghost
πŸ“…︎ Dec 03 2012
🚨︎ report

Please note that this site uses cookies to personalise content and adverts, to provide social media features, and to analyse web traffic. Click here for more information.