Cancelling your mortgage insurance? Ask our lawyers!

Questioner

I have had a housing costs insurance with Aegon since 2009, to save money of 130 euros per month, I want to cancel this insurance. The Aegon clause states that if you have extended the insurance once, you can cancel it per month, the insurance will then stop a month later?? according to Aegon this is not the case and I am stuck with it until mid 2013. how do I get rid of this? and how should I approach this? corresponding does not help, because Aegon denies everything and just sends invoices again. thank you in advance.

Lawyer

In order to answer your question, it is important to know exactly what is stated in your policy documents regarding an extension, cancellation and the cancellation period. It may be the case that there is a tacit extension of one year. If the policy states that you must cancel no later than one month before the premium due date (1 July 2012), this means that the policy will continue from that moment until the next premium due date (1 July 2013). If you have not canceled before 1 June 2012, you are still bound to the policy until 1 July 2013. If the policy states that you can cancel on the premium due date and the premium due date is 1 July 2012, the same applies. The premium due date is usually stated on the policy schedule. If the policy states that you can cancel on a monthly basis and a notice period of one month applies, then normally if you cancel the policy on October 25, 2012, the policy will continue until December 1, 2012. For specific advice, you can contact one of the lawyers on this site. Of course, it is important that you provide the policy conditions and the policy schedule to that lawyer, so that this lawyer can check for you which situation applies in your case.