How to get back the polysolokat money?

Until recently, one of the most popular ways of investing savings was the so-called polysolokaty. In addition to insurance, these instruments generally guaranteed higher interest rates than bank deposits. The problem started when, for some reason, we had to withdraw our capital. This was usually associated with a loss of most of the money paid in. As it turns out, this money can be recovered today.

The fact that the scale of the problem is gigantic is evidenced, among others, by the data of the association "Bound to the policy". According to this organization, in Poland, 5 million people with a total value of PLN 56 billion have such agreements.

Popular especially in the 1990s, polysolokaty are nothing more than a combination of a traditional life insurance policy with a deposit. Under the concluded agreement, part of the funds paid by the client was allocated to insurance, while the rest was allocated to the investment market and was to generate profits.

The insurers in the general terms and conditions of insurance contained provisions according to which the cancellation of the policy entailed the loss of a large part of the invested capital. These clauses clearly defined the percentage of funds to be paid out at any given moment and the surrender value of the policy was almost never the same as its actual value.

As it turns out, however, such provisions were illegal and the Court of Competition and Consumer Protection found that they blatantly infringed consumer interests.

In practice, this means that lost funds can now be recovered. The limitation period in this case is 10 years, so if the life insurance policy was liquidated within the last decade, we now have the opportunity to obtain compensation from the financial institution that took our savings as the insurance policy liquidation fee.

Unfortunately, we can't always count on that. Then the only solution is to pursue your cases through the courts. Due to the complicated nature of the whole process, many people use lawyers specializing in this field.

It is worth remembering that having a full set of documents - a concluded contract, confirmation of settlements made or provisions of general insurance conditions - may be helpful, but it is not necessary in this situation.

In order to obtain all necessary information and documents from the lawyer conducting our case, a power of attorney issued by us is sufficient, under which the insurer must make available the materials necessary to familiarize itself with the case.

Clearly, the possibility of repaying unlawfully seized funds also covers the policies currently in force. And as we know, still many people do not decide to withdraw from a life insurance contract because of fear of losing their invested capital.