'Life insurance policies? Pay attention to what you subscribe to ', the lawyer Piero Mongelli opens his eyes to savers

That the Italians are a people of savers is perhaps something known to all. For thousands of citizens, the life insurance policy it is one of the favorite tools to save some money and provide for your family, even in the case of premature death. Be careful, however, to rely on those that are real financial products with closed eyes. When you sign a contract of this type, the risk is always around the corner and for the less experienced, being scammed is a real danger.

It is the life insurance company Mongelli Law Firm, that just recently addressed the case of some savers not adequately informed about risks of insurance policies who had signed up.

A won battle that is added to all those that the study led by the lawyer Piero Mongelli carries on for years, in the interest of consumers.

Seat of Codacons of Lecce, in 2019 The sun 24 hours he placed him among the Legal Studies of the year, for his battles in defense of consumer interests.

Avv. Mongelli, what can you tell us about life insurance?

I say that you have to be very careful before signing a life insurance policy because often behind the name "life insurance" there are real high-risk financial instruments.

What do you mean?

Recently my studio has been interested in the case of some savers who thought they had subscribed to normal life insurance policies, but in reality these policies were linked to structured products whose return was linked to other securities or other mostly stock indices. . This type of policy is called ‘Index Linked"And are a risky and complex financial instrument, not suitable for all types of savers.

What kind of protection do people who encounter such situations have?

As I said these policies must be considered real financial products for which the law provides that savers before signing the contract must be informed about all the related risks and therefore also about the danger of losing the entire capital invested. In addition, the promoters must verify in detail that this type of investment is appropriate to the risk appetite and to the personal and financial characteristics of the saver. In summary, the promoter must verify that these policies are suitable for the investor and respect a series of parameters indicated by the law.

And what happens if these parameters are not respected by the promoters?

In the case followed by our study we asked for the return of the entire capital invested precisely because the financial promoter had not complied with the rules protecting the investor. The Court of Appeal of Lecce has proved us right.

The Mongelli law firm was included in the list of law firms of the year 2019 de The sun 24 hours

We had the great satisfaction of having been included in the list of Law offices of the year 2019 drawn up by Statistica and by Il Sole 24 ore. We are confronted with the great law firms in the country for reliability. The greatest satisfaction comes from the fact that in addition to being the only ones in the district of the Court of Lecce, we are the only ones who at national level are interested in consumer and citizen protection. All the other studies included in the list are on the other side of the barricade.

Your study has always been at the forefront in defense of the rights of consumers, citizens and savers.

It can be said that our "genetic imprint" is that of being close to the weak subjects of the legal relationship by offering the highest possible specialization in the matter. There are many causes we have conducted and we are conducting against banks or insurance companies to protect savers, or those relating to condominiums, or even those to protect patients in cases of medical malpractice.

Fight against the windmills then.

We could also say this, but I have to say that unlike Don Chisciotte we can bring home excellent results because we use an integrated, multidisciplinary and technologically advanced cutting-edge work method. A method that has given us many professional satisfactions. This year we celebrate our twentieth year of forensic activity. It's been a long time but the goal is always the same, to practice the legal profession well, faithfully and legally in the interest of our client, exactly as the motto of the study says.