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Broker uncovers LTC error by PPP

Axa subsidiary PPP Lifetime Care has been inc-orrectly calculating the annual indexation on an immediate funding long-term care policy.

Cooper Johnston Associates director Peter Cooper wrote to PPP after discovering the error which resul-ted in a benefit payment to his client being reduced by about £150 after four years of contributions.

PPP has paid the client £250 compensation but Cooper says he has not been told whether other policies are affected.

PPP long-term care marketing manager Brian Fisher says the error was made because its computer system rounds contributions down to the nearest pound. He says PPP will not under-take a wholesale review.

Cooper says:. “We have had no assurance that this was a one-off.”

Fisher says: “We are bringing in a new system next year and we are having a revamp.”

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