The principle was reaffirmed by the Court of Padua in an order dated 2.9.2024, which, making special application of what has already been expressed in Cass. no. 3785/2024, upheld the complaint brought by the law firm on behalf of a debtor-client and suspended the enforcement process in which a unit-linked life policy, in which the insurance benefits are linked to the performance of a financial product, had been attached.

The Court of Padua ruled that unit-linked policies are pension in nature and cannot be foreclosed under Article 1923 of the Civil Code when they guarantee the return of all or part of the capital paid through the premium regardless of market performance, and thus even in the case of negative returns.

In the case at hand, this was a partial guaranted linked life insurance policy that was declared to be unenforceable. A thorny topic that, handled with transparency and simplicity, resulted in a pronouncement of adamantine clarity.

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