These Are the Facts

Up until now, consumers dissatisfied with their life or pension insurance had no choice but to cancel it – thus having to do without a large part of the premiums already paid. But this is now a thing of the past – for the Federal Court of Justice has ruled that contracts with a defective cancellation policy can be completely rescinded: an excellent opportunity for all policyholders!

Your good right

According to our estimations, almost 80 percent of all cash value life and pension insurances concluded in Germany contain a defective cancellation policy in the documents or insurance policies. This particularly concerns contracts concluded between January 1st, 1995 and December 31st, 2007. In a number of judgments from the years 2013 to 2015, the European Court of Justice and the Federal Court of Justice (Bundesgerichtshof, BGH) have ruled that these contracts can be rescinded for an unlimited period of time.

What Does That Mean for You? If your contract contains a defective cancellation policy, you can demand the complete rescission of your life or pension insurance. In doing so, you are not only entitled to a refund of all premiums already paid, but in addition, you can also claim a compensation for use. We assist you during the complete rescission and make sure that you retrieve your compensation for use – even if documents are missing or you do not have legal expenses insurance.

Rescission – Yes or No?

The rescission of a life or pension insurance is a worthwhile option for many consumers in order to cancel an unprofitable contract. But such a rescission is not always advisable: if you are unsure whether a rescission is an option for you, we offer you a free and non-binding initial assessment of your life or pension insurance. But first, please obtain a first impression with our overview:

Pro rescission:

  • You will be refunded not only the surrender value, but also your administrative costs.
  • You will get back part of your risk costs and acquisition costs.
  • You are entitled to compensation for use, which is calculated based on the return on equity of the insurance company. Thus, you will be able to profit from an attractive compensation for use even in the case of small amounts.
  • We make a rescission possible even if documents are missing or you do not have legal expenses insurance.

Contra rescission:

  • You have effected your life insurance before 2005 in order to secure tax exemption. If the tax advantage is now bigger than the sum of the reimbursement of expenses and compensation for use, it could make more sense not to rescind the policy. You should first check that.
  • You have effected your life insurance after December 31st, 2007.
  • You have insured a personal risk (e.g. regarding your health or certain diseases) in your policy, which you can no longer insure due to your age or health. Allow an insurance expert to advise you on that matter.