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Insolvent life insurance: Those affected must continue to deposit
Find out on contract assistance24.de which risks are insured in the case of insolvencies from your providers. The article illuminates the regulations of § 314 VAG, which enable them to shorten services, while contributors must continue to deposit. Find out more about the current developments in Germany and Luxembourg and the need for technical advice on existing contracts. Protect your assets with valuable tips from experts!
Insolvent life insurance: Those affected must continue to deposit
shock for life insured: Risk information about § 314 VAG strikes like a lightning!
Did you know that your life insurance can be subject to massive cuts in an emergency? In the world of German life insurance, this is no longer a secret! Exactly according to the worrying regulations in Paragraph 314 of the Insurance Supervision Act (VAG), providers have the right to radically shorten the services in the event of financial difficulties. And best of all: you still have to pay further into the cash register! How cruel is that?
The impending Damocles sword over many insured persons!
contract assistance24.de draws attention to an alarming fact: If an insurance company is on the verge of the abyss, the insured are often the first to feel the consequences. Example pleasant? Thousands of German customers of the already insolvent FWU life insurance must now worry about their claims. The Luxembourg supervision has stopped all payments. Hard tobak! And while the insured hope for their savings, they have to stick to the articles at the same time - crazy, right?
Painful reality: A review of the past
A look at the recent history shows that these are not just isolated cases. In 2003, Mannheimer Lebensversicherung AG went bankrupt - the balance was catastrophic, a total of 370 million euros was missing! History teaches us: Such scandals are not the exception, but could become a bitter reality. At that time, the company was indebted by risky stock camps. And the teachings were drawn, laws were changed and the Bafin (Federal Financial Service Supervisory Authority) transferred powerful controls.
The consequences for insured persons are enormous!
The worrying detail behind § 314 VAG states that life insurers can not only "manage" the money of the customers in the event of financial difficulties, but that they remain a duty to continue to pay their contributions - what horror for many! Section 314 paragraph 1, sentence 2 clarifies: "All types of payments, especially insurance benefits, profit distributions" can be temporarily blocked. The insured are then stunned, stand before nothing!
Contract help24: Your indispensable source of information!
But they don't despair! Contract assistance24.de has established itself as a valuable contact point. Customers can receive valuable information here and obtain expert opinions. Personalities such as Axel Kleinlein, ex-board of the federal government, and Sven Enger, a former insurance professional, are on hand with their insights. The financial journalist Carola Ferstl also gives valuable tips and informs about burning topics on YouTube.
contract assistance24.de, however, is more than just an information portal. The platform does not charge any fees and also does not provide investment advice! The only goal: clear, transparent information for consumers. Those who can no longer find their way around the world of life insurance should be consulted. Read, find out more - and protect your interests!
no longer wait - have your contract checked by specialists. Your financial matters should be in safe hands!