
GRP Rainer Lawyers and Tax Advisors in Cologne, Berlin, Bonn, Bremen, Dusseldorf, Essen, Frankfurt, Hamburg, Hanover, Munich, Nuremberg, Stuttgart and London www.grprainer.com/en conclude: If a policyholder prematurely brings the life insurance contract to an end, the provisions affected therein thus become ineffective. In particular, the provisions regarding the calculation of the redemption value and the allocation of acquisition costs from the life insurance policy are of great importance and gaps to be closed. According to the BGH, these gaps ought to be closed by means of supplementary interpretation of the contract. This would mean that the policyholder, who concluded the contract in question by the end of 2007, receives the benefits promised in the contract on the part of the insurer.