Back to FAQs category About Credit About bad credit Searches on your credit report Your credit card application Using your credit card Managing your account Statements, payments & interest Safety & Security Photocard Secured Card Aspire® Elite Card Mobile App Complaints Payment Protection Insurance (PPI) Subject Access Request Payment Services Directive (PSD2) Payment Protection Insurance (PPI) What is PPI? PPI stands for Payment Protection Insurance. The policy ordinarily provides financial benefit to protect your Capital One credit card payments in the event of an accident, sickness, unemployment or death, all of which are detailed in your individual Policy Document. For a copy of your policy document you will need to contact us on 03444 815 834. PPI is no longer available to new customers; however the information available is still applicable to existing customers who are protected by the product. All Capital One's existing policies are underwritten by AXA Insurance. How do I know if I have PPI on my account? If you have a live PPI policy, you will pay a monthly premium on your outstanding balance which you will see every month on your statement. If you're still unsure, please review your policy document or call us on 03444 815 834 and we will be happy to check your account. What does PPI cover? PPI policies vary depending on when you took the policy out and your age but the main benefits subject to exclusions are: Life cover Accident and Sickness cover Unemployment cover Critical Illness cover Hospitalisation For a copy of your individual policy document, you will need to contact us on 03444 815 834. How do I make a claim? You can call AXA Insurance directly on 0845 601 9648 and their expert claims team will help you through the process. To make the claims process quicker and easier it would help if you had the following information to hand when calling: Capital One credit card number National Insurance number Employer details and employment history Your Doctor/Consultant's name and address (for sickness claims only) If my claim is successful how do the payments work? For life and critical illness claims, AXA Insurance will pay your balance at the date of your death or diagnosis of your critical illness. For accident, sickness or hospitalisation claims, AXA Insurance will pay 10% of your balance on the date of the last statement before the commencement of your accident or sickness or hospitalisation claim on a monthly basis. AXA Insurance will pay this for a maximum of 12 months. For unemployment claims, AXA Insurance will pay 10% of your balance on the date of the last statement before your last day of employment. AXA Insurance will pay this for a maximum of 12 months. If you have any questions about how the payments work, please call us on 03444 815 834. How long does it take to get payments? Once a claim has been accepted, AXA Insurance will send payments to your Capital One account every 30 days providing evidence has been received to cover that payment period. If you have any questions about the payments, evidence required or progression of your claim, please contact AXA Insurance directly on 0845 601 9648. Do I need to continue making repayments to my account? You need to continue to keep at least your minimum payments up to date on your account until AXA Insurance has confirmed they have accepted your claim. However, if for any reason you are unable to do this, please contact us on 03444 812 812. Will making a claim affect my credit file? We will continue to report your payment history to the credit reference agencies for the duration of your claim. Once your claim has been settled we will review your credit file and make any necessary amendments. Why has Capital One cancelled my PPI? If you're four months behind with your minimum payments or you have been issued with a statement of default, we will automatically cancel your PPI as your premiums will not be up to date. How do I cancel my PPI? You can cancel your policy at any time by calling us on 03444 815 835 or you can send us a secure message by signing in to your online account and selecting 'Account Maintenance'. If you don't have an online account, it's easy to register now. If you choose to cancel your policy, please be aware we no longer offer PPI so you can't take it out with us again in the future. How do I make a complaint about PPI? If your complaint relates to how PPI was sold, please see our PPI Complaints Policy Or If your complaint relates to your claim decision or the service you have received whilst claiming, please contact AXA Insurance using the details below: Creditor Claims Team AXA Insurance Civic Drive Ipswich IP1 2AN 0845 601 9648 You can make a complaint about PPI even if it has been cancelled or you are no longer a Capital One customer and there is no time limit. Have we answered your PPI question? If you have any further questions about PPI, please call us on 03444 815 834. Calls may be recorded/monitored for training purposes.