It concerns capital life and pension insurances which were closed between 21.07.1994 and 31.12.2007. In the process, the customers did not receive all the contract documents for the conclusion of the contract, but later together with the insurance certificate. The contract was deemed to have been completed if it had not been rejected within 14 days (after 2004 within 30 days).
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Why did it happen?
The starting point is faulty contradictions in many of these contracts. If the instruction is faulty, the opposition period has never begun and thus the contract can be revoked after many years today.
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How many contracts are affected?
According to insurance information, more than 108 million contracts are affected by this case law.
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Does this also apply to terminated and expired contracts?
In the case of terminated contracts, in addition to the surrender value already paid out, you will receive the difference to the premiums originally paid in (less risk deduction) plus an additional compensation for use.
In the case of expired contracts, you will receive an additional compensation in addition to the amount paid out.
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What is important to consumers?
1. The sum of the contributions paid (minus the actual insurance cover - on average 4%)
2. A compensation for use, since the insurance company has used your money in the meantime.
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How long does the rewinding take?
The duration depends on the respective insurance company and whether an out-of-court settlement can be reached or a legal procedure must be initiated. In an out-of-court settlement, a reversal can take place in a few weeks, in a judicial proceeding one must count on up to 12 months.
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Should I cancel first and then withdraw?
In court, this procedure can be interpreted as a "conscious decision" of the policyholder.
This means: If the customer / VN is informed about the possibility of the cancellation and decides then consciously for a notice and the payment of the repurchase value, then the enforcement of the revocation can be vulnerable.
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How many judgments are there?
The decisive factor was a judgment of the European Court of Justice (ECJ) of 19.12.2013. This was followed by another 154 judgments of the Federal Court of Justice (BGH) in 2015.
To the judgments