Justice has given the reason to the College of Insurance Mediators of Zaragoza. The institution publicly supported the claim that an individual filed against Banco Sabadell for imposing on it a 20-year life insurance and the collection of its corresponding premium, in advance, which amounted to more than 20,700 euros.
The Zaragoza entity, which looks after the interests of the insurance sector, described as “Malpractice” this action by Banco Sabadell, Therefore, the Association of Insurance Mediators of Zaragoza was obliged to support this claim, with José Luis Carrera as a lawyer of the case.
Thus, the ruling annuls the insurance the 20-year life insurance with advance premium and the 5-year payment protection insurance, considering them harmful to the client. Therefore, condemns the Bank to return the unconsumed advance premium. “The life insurance premium consumed is reduced to the market price, according to the offers we present, and the difference will be returned to the client. Also, the interests paid for the financed part of the premium will be returned to our client ”, explains Carrera.
For Carrera, “the sentence is a novelty in Aragon, since there was none in our Community, and in Spain it may be the third “. In addition,” it should serve to sanction banks for imposing this type of very long-term insurance, “he stressed.
The lawyer of the College of Mediators has indicated that the sentence “has another very important issue because it analyzes the bonuses that are included in the mortgage deed and says that it is not necessary to take out the insurance with the bank so that you get that bonus ”. For this reason, he clarified, “customers will be able to claim the bank to accept insurance obtained through an insurance mediator and that the interest rate is not harmed”.
The sentence partially annuls the mortgage clause, although it does not cancel the bonus. Now, “the interpretation given by the judge is that the bonus must also be applied with policies from other providers and, furthermore, it condemns the bank to pay the costs of the judicial process,” says the lawyer.
For his part, the president of the College of Mediators of Zaragoza, Miguel de las Morenas, emphasizes “that the imposition of insurance is prohibited when contracting the mortgage, but in this case, the bank went much further and forced take out life insurance with his own insurer, with a duration of 20 years, and he collected the premium in advance at a cost of more than 20,700 euros “.
“From the College of Mediators We are very satisfied with the sentence and we hope it can be exemplary to prevent this type of practice ”, concluded the president of the College.
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