Millions of life insurance policies are faulty
According to the decisions of the highest court, the BGH, a number of life insurance policies taken out between 1995 and 2007 are incorrect. Customers were not sufficiently informed about their right of withdrawal. The consequence of the formal error is that such insurance can be subsequently revoked. The cancellation instructions now contain a considerable number of simple formal errors, which should generally be prevented by a strong legal department in financially strong insurance companies. As a result, an insured person with this life insurance policy can receive a significantly higher surrender value of their insurance than the current one through an extraordinary revocation. Normally, a life insurance policy could have been canceled or sold in 2020 with a loss of 6,000 euros with a deposit of 38,000 euros. However, due to the formal error, the life insurance can be revoked with a repayment of 52,000 euros and therefore has a profit of 18,000 euros. Due to a ruling by the Federal Court of Justice in 2014, numerous life insurance policies were revoked and these revocations are continuing. These insurance policies seem to be met with dissatisfaction among millions of customers. Some large law firms that specialize in revoking such insurance policies offer a free inspection of the insurance policies, which of course does not please the insurer. In order for the lawyers to give a legal assessment, a photo of the documents from the relevant insurance company should be sufficient. In order to take legal action against the respective insurance companies, you do not need legal protection insurance. The claims are bought by financially strong companies. These companies make a profitable payout to the insured and then take the insurers to court. This is legal even if the policies have already been canceled or have already expired. The advantage for the insured is that they do not have to bear any further risk in the process, even if the profit is not as high as normal. However, this will be paid out to the insured person in a very short time. There is an additional amount if the institutions have won the lawsuit against the insurers.