It’s important to have them. But there can also be good reasons to cancel insurance policies. For example, because circumstances have changed. Or because another provider offers the same insurance services at a lower price. But resigning is not the same as resigning. There is an extraordinary and an ordinary termination.
Policyholders can only give an »extraordinary notice«, also known as a »special notice«, under certain conditions. “Usually after a premium increase without increasing insurance coverage or after a claim,” says Sandra Klug from the Hamburg consumer advice center.
There are exceptions: “With certain policies, the policyholder has no special right of termination in the event of a premium increase,” says Jörg Asmussen from the German Insurance Association (GDV). These include pension or endowment insurance, Riester insurance, risk insurance and accident and disability insurance.
Special right of termination for insurers
Important to know: In the event of a claim, the insurance company also has the option of issuing an extraordinary notice of termination. The provider is entitled to terminate the contract within one month after the settlement of the claim.
And what is “ordinary termination”? This is the case when the regular right of termination is exercised. This is possible without cause in compliance with the notice periods. Deadlines and information can be found in the contract terms and in the product information sheet.
“Usually, contracts have to be terminated at the end of an insurance year,” says consumer advocate Klug. A period of three months often applies. For motor vehicle insurance, the period is one month.
Life insurance non-cancellable
Different rules apply to endowment insurance. “Anyone who pays monthly can cancel monthly and anyone who pays annually can cancel annually,” says Sandra Klug. Attention: Rürup contracts cannot be canceled at all, but you can set them up free of charge. Riester contracts can be terminated, but allowances and tax benefits then have to be repaid.
By the way: An insurer cannot cancel the life insurance of a policyholder. “This is prohibited by law to protect customers,” says Asmussen. In the case of private pension insurance, termination by the provider is also not permitted.
Avoid mistakes in form
Consumers should send notices of termination by registered mail or by fax with a transmission report. It is also possible to give notice of cancellation by e-mail. In addition to your own address, the insurance number and the time of termination – alternatively »as soon as possible« – must be stated in the respective letter.
Don’t forget: revoke the direct debit authorization. It is also important to always have the receipt confirmed. “The notice period is met if the notice of termination reaches the provider within the period,” emphasizes Klug. In the case of termination by letter, the decisive factor is not the postmark, but the date of receipt of the letter of termination by the insurance company.
© dpa-infocom, dpa:220715-99-36854/2
–
