The Federal Court of Justice passed a law containing incorrect cancellation policies in 1994. The law continued to be in effect until 2007. People did not know what to do. They couldn’t revoke their policies because they didn’t know they could do it. The law allowed insurance companies to suppress information about the rights of people to object or withdraw their policies.
Lawsuits for canceled policies
There was practically no one to help life insurance holders to revoke their policies. Then came Phil Sokowicz and his co-founder who stood up against this immoral law and help out people who got life insurance policies affected that 14-year period. From going through your life insurance documents in detail to fighting lawsuits, they are doing their best to help get people’s money back.
He, along with his co-founder, founded a platform where people can have their legal claims checked and enforced on a no-win, no fee basis, primarily focusing on faulty life insurance contracts at the moment.
Revoking life insurance policies
Going against large companies is no joke but you also need to consider the millions of people who already paid thousands into their life insurances. Imagine after many years of paying your premiums, you are not receiving the outcome you were once promised by the insurance company. You will feel cheated and disgusted. This very thing happened to millions of life insurance holders in Germany, who now have high hopes that Phil Sokowicz will win their cases.
Phil and his co-founder chose a niche that no one had dared to choose before. They examined thousands of life insurance policies and their platform became a complaint box for thousands. They believe that almost anyone who successfully revokes their life insurance will receive a higher outcome. According to their findings, there are over 100 million life insurance policies that were concluded between 1994 and 2007, where customers may get approximately 10,000 Euros as a surplus to the premiums they paid.
The problem with faulty life insurance is that the claimants usually don’t know what to do. With Phil Sokowicz, they have a guide. They know what steps to follow. Many people are unaware of their terms and conditions, the amount they already paid, and the amount they can expect to get.
Claimants need to submit their contracts to the company and wait for their turn. An approximate claim amount is then calculated from the algorithm they created. Once the amount is determined and one of the partner’s law firms has assessed the claim, the customer gets to decide what’s next. The company only charges 29,75% of the claimed amount as fees, which many say is reasonable enough, considering the hard work that has to be put in.
