Payment Protection Insurance (PPI)

Payment Protection Insurance (PPI) is an optional insurance policy sold alongside your Capital One credit card to help you ensure your repayments can be made in the event of an accident, sickness, unemployment or death.

If you have a live PPI policy, you'll pay a monthly premium on your outstanding balance, which you'll be able to see every month on your statement.

PPI is no longer being sold to either new or existing customers.

All of Capital One's existing policies are underwritten by AXA Insurance.

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 812 812.

You can call AXA Insurance directly on 0345 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)

We'll continue to report your payment history to the credit reference agencies for the duration of your claim. Once your claim has been settled, we'll review your credit file and make any necessary amendments.

If you have a current PPI policy and you have a claim declined, we will provide you with information on how to make a complaint about the sale of your policy.

For claims arising from events which happen on or after the 30 December 2019.

For life claims, AXA Insurance will pay your balance at the date of death, and provide a one off payment to your designated personal representative for £3000.

For critical illness claims, AXA Insurance will pay your balance at the date of diagnosis and provide an additional 50% of your balance payment direct to you.

For accident, sickness or hospitalisation claims, AXA Insurance will pay 15% of your outstanding 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 until you return to work, for a maximum of 12 months, whichever comes first.

For unemployment claims, AXA Insurance will pay 15% 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.

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 0345 601 9648.

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. If for any reason you're unable to do this, please call us.

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.

We'll automatically cancel your PPI if you're four months behind with your minimum payments, or if you have been issued with a statement of default, as your premiums will not be up to date.

Your PPI would also have been cancelled if you made a complaint about mis-sold PPI which was then upheld by Capital One.

You can cancel your policy at any time by sending us a secure message from your online account. Please be aware that we no longer offer PPI, so if you cancel your policy, you won't be able to take it out with us again in future.

To complain about your claim decision with AXA insurance, or the service you have received while making a claim, please contact AXA Insurance.

You can write to:

Creditor Claims Team
AXA Insurance
AXA House
Northgate
White Lund
Morecambe
LA3 3PA

Or you can call: 0345 601 9648