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Tips for Skandia life insurance: Cancellation instead of termination for up to 150% repayment!
According to a report by www.likehifi.de, Skandia, a well-known life or pension insurance insurer, offers its customers various options to terminate their life insurance, including termination, sale, revocation or non-contributory status. The decision depends on the return and the contract conditions. However, revocation may be the best option, as errors in the contract make it possible to receive up to 150% of the repayment amount, even decades after the contract was concluded. The article explains that customers who cancel their Skandia life insurance policies in most cases suffer losses, even though the company offers unit-linked life and pension insurance in the private sector. High commissions mean that customers, even after years...
Tips for Skandia life insurance: Cancellation instead of termination for up to 150% repayment!
According to a report by www.likehifi.de,
Skandia, a well-known life or annuity insurer, offers its customers various options for terminating their life insurance, including termination, sale, revocation or non-contributory status. The decision depends on the return and the contract conditions. However, revocation may be the best option, as errors in the contract make it possible to receive up to 150% of the repayment amount, even decades after the contract was concluded.
The article explains that customers who cancel their Skandia life insurance policies in most cases suffer losses, even though the company offers unit-linked life and pension insurance in the private sector. High commissions mean that customers still do not make a profit even after years. Termination only results in the payment of the surrender value, which consists of the contributions paid, surpluses/interest and deductions for fees and cancellation fees.
It also explains which forms and deadlines must be observed when canceling Skandia life insurance, as well as the advantages of cancellation. The article warns against unfavorable new contracts and advises checking the cancellation options via free portals in order to possibly still come out with a profit compared to terminating the contract.
From an economic perspective, it is to be expected that the unfavorable conditions for customers will lead to a loss of trust in the company in the long term. Customers may tend to prefer alternative insurance providers with more attractive conditions. Commission optimization and unfavorable buyback values could also damage the company's reputation in the long term.
The possibility of revocation could lead to customers increasingly examining this option and not canceling Skandia life insurance, but instead trying to obtain a higher repayment amount through revocation. In the long term, this could lead to increased customer loyalty and more positive reviews of the company.
Read the source article at www.likehifi.de