Did you know that you are entitled to claim for the interest earned by your PPI premiums as well? When calculating the PPI Refunds, it is important to factor in the market rate of interest so that you are sure that the amount refunded to you is the correct amount. Since the personal protection insurance policy is not compulsory, you may claim for a refund of this amount at any particular time. But if you do not have a regular source of income, then it is important to wait till you finish repaying your loan or mortgage so that you can claim for a refund of your premiums. Secondly, when applying for a loan or mortgage, you should be extremely careful so that you do not end up paying premiums for this insurance policy unknowingly. There have been cases of frauds in the banking and insurance industry where clients have been forced to pay for premiums but they were not advised that the premiums are refundable. As such, those clients ended up not claiming for the refund of their premiums. It is therefore important to be keen when signing the loan agreement so that you can be able to understand all the charges levied on the loan.