The German Federal Court of Justice ruled on July 29, 2015 that life insurance policies, annuity policies and unit-linked life insurance policies can be revoked. If the respective objection instruction is faulty. Thus, among others, consumer...
centers assume that more than 65% of all concluded contracts can be contradicted.
Relevant period: 29.07.1994 to 31.12.2007.
In general, it is still possible to object to current insurance policies, cancelled insurance policies and even insurance policies that have already expired (paid out).
The consequence is that the policyholder is entitled to extensive claims against the insurance company as a result of the objection.
- Termination of the contract
- Repayment of all insurance premiums (less any risk shares)
- Reimbursement of acquisition and administration costs
- Surrender of interest (so-called benefits)