After taking out an insurance policy, there are Insured persons have two options contractual relationship with your insurer to terminate the contract: On the one hand, the contract can be terminated – like any contract- under Compliance with the legal deadlines informal and on the other hand, it is possibleto revoke the contract concluded with certain insurances at a later date and therefore to have itunwound.

If the policyholder decides to terminate his contract with the insurance company, this is usually accompanied by considerable financial losses. Cancellation means that the insured person is only entitled to the so-called surrender value of his insurance contract. In most cases, this is tantamount to a loss of assets for the insured, since the surrender value is significantly lower than the premiums already paid in by the insured. In addition, the usually very high acquisition costs are not reimbursed by the insurance companies and considerably increase the already large financial loss.

The situation is different with the so-called reversal of an insurance policy. This offers many advantages over the classic termination. For example, a reversal significantly reduces or eliminates the expected loss. Contrary to the cancellation mentioned earlier, in the case of insurance reversal, you stand a good chance of getting back all the premiums you have already paid. These also include all premiums and rates set aside by the insurance provider for commissions and acquisition costs. In addition, after a reversal, customers still receive a so-called compensation for use in the form of interest for the provision of capital.

Accordingly, the advantages of reversing insurance policies as opposed to terminating them are quite significant. So if you value your assets, you should have your insurance policies checked with regard to reversal and always prefer revocation to termination, if possible.

But what if the contract with the insurance company has already been cancelled? Here, too, the right of cancellation offers surprising possibilities. Even if it may sound paradoxical, the revocation and an associated reversal of insurance policies is still possible even after a cancellation or the expiry of an insurance policy.

Contact us. We will be happy to review your case!