Is that insurance worth the paper it's written on?

New research has found Australians with English as a second language make up 20 percent of customers seeking refunds on junk insurance policies.

Junk insurance is commonly sold with products such as cars and credit cards and provides minimal benefit to consumers. Source: Getty

Highlights

• Junk insurance is commonly sold with products such as cars and credit cards and provides minimal benefit to consumers.
• New research from Get My Refund found more than half of their customers with English as a second language, say they were told by the bank or insurance company they must buy the add-on insurance with their loan.
• More than 80 per cent don't believe they were given a product disclosure statement.

Often, victims don't even know they've been sold the product but there are ways to get the money back.