Viewpoints... 10 of the most confusing legal issues in life insurance.
Published:
2021-12-25
"Don't use probability thinking to explore risk, learn to use cost thinking to look at insurance; understand the basic legal function of insurance, have a sense of risk concern; consider whether your family finances can bear the cost if the risk occurs. Hedging the unaffordable cost (risk) with the affordable cost (premium) is the real meaning of insurance"-to encourage everyone. 1. Can we insure anyone with life insurance at will? You can't. Life insurance is insurance that takes the life and body of a person as the subject of insurance. The policyholder shall have an insurance interest in the insured at the time of the conclusion of the insurance contract. The insurance interest referred to here refers to the legally recognized interest of the insured's life and body. China's Insurance Law adopts the principle of combining interest doctrine and consent doctrine to determine whether the insured has an insurance interest in the insured. According to the provisions of the Insurance Law, the insured person can insure himself as the insured; he can also insure his spouse, children, parents, or other family members, close relatives who have a supporting, supporting or supporting relationship with him, or with him Workers with labor relations are insured. In addition, if the insured agrees that the insured shall enter into an insurance contract for his insurance, the insured shall also be deemed to have an insurance interest in the insured. The general principle is that when an insurance contract is concluded, if the insured does not have an insurance interest in the insured, the contract is invalid. -See Articles 12 and 31 of the Insurance Law. 2, after insurance, who can terminate the insurance contract? Policyholder. In general, after the establishment of an insurance contract, the policyholder may terminate the insurance contract, and the insurance company may not terminate the insurance contract at will, unless otherwise provided in the Insurance Law, or otherwise agreed in the insurance contract. However, when the insured terminates the insurance contract, the insured has the right to intervene. That is, in the event of inconsistency between the insured and the insured, the insured does not need the consent of the insured to terminate the insurance contract, but the insured may maintain the validity of the insurance contract by paying the insured an amount equivalent to the cash value of the insurance policy and notifying the insurance company. -See Article 15 of the Insurance Law and Article 17 of the Judicial Interpretation (III). 3, the policyholder did not fulfill the obligation to inform truthfully, whether the insurance company still bear the responsibility of compensation or payment of insurance benefits? Look at the time, look at the situation. When the insurance contract is concluded, if the insurance company makes an inquiry about the relevant situation of the insured, the policyholder shall inform it truthfully. China's Insurance Law adopts the mode of inquiry and notification, that is, the obligation of the policyholder to inform is limited to the scope and content of the insurance company's inquiry, and there is no need to inform the matters that the insurance company has not asked, and the important matters that can affect the insurance company's decision on whether to agree to underwrite or increase the insurance rate, rather than all the matters, which is conducive to safeguarding the interests of the policyholder, to prevent the insurance company from claiming the termination of the contract or refusing to bear the liability for the failure of the policyholder to fulfill the obligation of notification. According to the provisions of the Insurance Law, if the insured intentionally or due to gross negligence fails to perform the obligation of truthful disclosure, which is sufficient to affect the insurance company's decision whether to agree to underwrite or increase the insurance rate, the insurance company has the right to terminate the contract. However, the right of discharge shall be extinguished from the date on which the insurance company knows that there is a cause for discharge and shall not be exercised for more than 30 days. If the insurance contract has been established for more than two years at the time of the insurance accident, the insurance company shall not terminate the contract and shall be liable for compensation or payment of insurance benefits. If, at the time of the conclusion of the insurance contract, the insurance company already knows that the policyholder has not truthfully informed the situation, the insurance company shall not terminate the insurance contract. -See Article 16 of the Insurance Law and Articles 5 and 6 of the Judicial Interpretation (II). 4, life insurance contract how to determine the beneficiary? Appointed by policyholder or insured. The Insurance Law stipulates that the beneficiary is the person who has the right to claim insurance benefits designated by the insured or the insured in the life insurance contract. The insured or the insured may be the beneficiary. The appointment of the beneficiary by the insured shall be subject to the consent of the insured. If the insured is a person without civil capacity or a person with limited civil capacity, the beneficiary may be designated by his guardian. In addition, the insured or the insured may designate one or more persons as beneficiaries; if there are several beneficiaries, the insured or the insured may also determine the order and share of benefits. In addition, the insured or the insured may change the beneficiary and notify the insurance company in writing, but the insured must obtain the consent of the insured when changing the beneficiary. Under normal circumstances, the insured or the insured will designate the beneficiary as his spouse, children or parents, but sometimes it will also write "legal" or "legal heir". In this case, if the specific deceased beneficiary is not designated, it is impossible to avoid the payment of insurance money as the insured's estate to be distributed among the heirs again, so that the insurance itself has the exclusive benefit, seamless inheritance, rapid compensation, personal property attributes and other functions can not be realized. Therefore, it is recommended that you sort out your family's policies and adjust the beneficiaries appropriately. -See Articles 18, 39, 40, 41, 42 of the Insurance Law 5, the insured does not truthfully declare the age of the insured, can it? You can't. If the age of the insured declared by the insured is not true and his true age does not meet the age limit stipulated in the contract, the insurance company may terminate the contract and refund the cash value of the insurance policy in accordance with the contract. At the same time, the relevant provisions of Article 16 of the Insurance Law on the failure of the insured to perform the obligation of truthful notification cause the insurance company to exercise the right to terminate the contract. If the age of the insured declared by the policyholder is not true, resulting in the policyholder paying less or more than the premium payable, the insurance company may require the policyholder to pay or refund the premium, or pay the insurance premium in proportion to the premium paid (less) and the premium payable. -See Article 32 of the Insurance Act 6. Can parents insure multiple high-value life insurance contracts for their minor children on the condition of death? You can't. According to the provisions of the notice of the China Banking and Insurance Regulatory Commission, for the life insurance taken out by parents for their minor children, before the insured reaches adulthood, the total amount of insurance paid by the insured in each insurance contract and the actual payment by each insurance company at the time of the insured's death The total amount of insurance money shall be implemented according to the following limits: (1) For the insured under 10 years old, it shall not exceed 200000 yuan; (II) for the insured under 18 years old, no more than $500000. For example, the amount of aviation accident death insurance, the amount of accident death insurance for major natural disasters, as well as the insurance premium paid by the insured, the cash value of the contract at the time of the death of the insured, the value of the account, etc. are not calculated in the above limits. -See Articles 33 and 34 of the Insurance Act. 7, the insured committed suicide, intentional crime, the insurance company will not compensate? Look at the time, look at the situation. If the insured commits suicide within two years from the date of the establishment of the insurance contract or the restoration of the validity of the contract, the insurance company shall not bear the responsibility of paying the insurance premium, and the insurance company shall only refund the cash value of the insurance policy. However, after more than two years, if the insured commits suicide, the insurance company is liable for the payment of insurance benefits. If the insured commits suicide as a person with no capacity for civil conduct, the insurance company shall be liable for the payment of insurance benefits regardless of whether the establishment or restoration of validity of the insurance contract exceeds or is less than two years. If the insured intentionally commits a crime or resists the criminal coercive measures taken in accordance with the law, the insurance company shall not bear the responsibility of paying the insurance premium; if the insured has paid the insurance premium for more than two years, the insurance company shall refund the cash value of the insurance policy in accordance with the contract. -See Articles 44 and 45 of the Insurance Act. 8. If the insurance company pays compensation to the insured due to the actions of a third party, does the insured or beneficiary still have the right to claim compensation from the third party? The right to claim compensation. According to the provisions of the Insurance Law, if the insured has an insurance accident such as death, disability or illness due to the behavior of a third party, the insurance company shall not have the right to recover from the third party after paying the insurance money to the insured or beneficiary, but the insured or beneficiary shall still have the right to claim compensation from the third party. -See Article 46 of the Insurance Act. 9, the policyholder has paid the insurance policy and insurance premium, the insurance company has not yet issued the policy, at this time the insurance accident, the insurance company will not compensate? should be compensated. If the underwriting conditions are met, the insurance company shall bear the insurance liability; if the underwriting conditions are not met, the insurance company shall not bear the insurance liability, but shall refund the insurance premiums already collected. If the insurance company claims that it does not meet the underwriting conditions, it shall bear the burden of proof. -- See Article 4 of the Judicial Interpretation (II) of the Insurance Law. 10, life insurance company bankruptcy, our life insurance contract? Other life insurance companies took over. The life insurance business operated by insurance companies includes life insurance, health insurance, accident insurance and other insurance businesses. An insurance company engaged in life insurance business shall not be dissolved except as a result of division, merger or dissolution according to law. If an insurance company engaged in life insurance business is revoked or declared bankrupt according to law, the life insurance contract and liability reserve held by it must be transferred to other insurance companies engaged in life insurance business; if a transfer agreement cannot be reached with other insurance companies, the insurance company engaged in life insurance business shall be designated by the Bancassurance Regulatory Commission to accept the transfer. -See Articles 89, 92, 95 of the Insurance Act.
"Don't use probability thinking to explore risk, learn to use cost thinking to look at insurance; understand the basic legal function of insurance, have a sense of risk concern; consider whether your family finances can bear the cost if the risk occurs. Hedging the unaffordable cost (risk) with the affordable cost (premium) is the real meaning of insurance"-to encourage everyone.
1. Can we insure anyone with life insurance at will?
You can't.Life insurance is insurance based on the life and body of a person. The policyholder shall have an insurance interest in the insured at the time of the conclusion of the insurance contract. The insurance interest referred to here refers to the legally recognized interest of the insured's life and body. China's Insurance Law adopts the principle of combining interest doctrine and consent doctrine to determine whether the insured has an insurance interest in the insured. According to the provisions of the Insurance Law, the insured person can insure himself as the insured; he can also insure his spouse, children, parents, or other family members, close relatives who have a supporting, supporting or supporting relationship with him, or with him Workers with labor relations are insured. In addition, if the insured agrees that the insured shall enter into an insurance contract for his insurance, the insured shall also be deemed to have an insurance interest in the insured. The general principle is that when an insurance contract is concluded, if the insured does not have an insurance interest in the insured, the contract is invalid.
-See Articles 12 and 31 of the Insurance Law.
2, after insurance, who can terminate the insurance contract?
Policyholder.In general, after the establishment of an insurance contract, the policyholder may terminate the insurance contract, and the insurance company may not terminate the insurance contract at will, unless otherwise provided in the Insurance Law, or otherwise agreed in the insurance contract. However, when the insured terminates the insurance contract, the insured has the right to intervene. That is, in the event of inconsistency between the insured and the insured, the insured does not need the consent of the insured to terminate the insurance contract, but the insured may maintain the validity of the insurance contract by paying the insured an amount equivalent to the cash value of the insurance policy and notifying the insurance company.
-See Article 15 of the Insurance Law and Article 17 of the Judicial Interpretation (III).
3, the policyholder did not fulfill the obligation to inform truthfully, whether the insurance company still bear the responsibility of compensation or payment of insurance benefits?
Look at the time, look at the situation.When the insurance contract is concluded, if the insurance company makes an inquiry about the relevant situation of the insured, the policyholder shall inform it truthfully. China's Insurance Law adopts the mode of inquiry and notification, that is, the obligation of the policyholder to inform is limited to the scope and content of the insurance company's inquiry, and there is no need to inform the matters that the insurance company has not asked, and the important matters that can affect the insurance company's decision on whether to agree to underwrite or increase the insurance rate, rather than all the matters, which is conducive to safeguarding the interests of the policyholder, to prevent the insurance company from claiming the termination of the contract or refusing to bear the liability for the failure of the policyholder to fulfill the obligation of notification.
According to the provisions of the Insurance Law, if the insured intentionally or due to gross negligence fails to perform the obligation of truthful disclosure, which is sufficient to affect the insurance company's decision whether to agree to underwrite or increase the insurance rate, the insurance company has the right to terminate the contract. However, the right of discharge shall be extinguished from the date on which the insurance company knows that there is a cause for discharge and shall not be exercised for more than 30 days. If the insurance contract has been established for more than two years at the time of the insurance accident, the insurance company shall not terminate the contract and shall be liable for compensation or payment of insurance benefits. If, at the time of the conclusion of the insurance contract, the insurance company already knows that the policyholder has not truthfully informed the situation, the insurance company shall not terminate the insurance contract.
-See Article 16 of the Insurance Law and Articles 5 and 6 of the Judicial Interpretation (II).
4, life insurance contract how to determine the beneficiary?
Appointed by policyholder or insured. The Insurance Law stipulates that the beneficiary is the person who has the right to claim insurance benefits designated by the insured or the insured in the life insurance contract. The insured or the insured may be the beneficiary. The appointment of the beneficiary by the insured shall be subject to the consent of the insured. If the insured is a person without civil capacity or a person with limited civil capacity, the beneficiary may be designated by his guardian. In addition, the insured or the insured may designate one or more persons as beneficiaries; if there are several beneficiaries, the insured or the insured may also determine the order and share of benefits. In addition, the insured or the insured may change the beneficiary and notify the insurance company in writing, but the insured must agree to change the beneficiary. Under normal circumstances, the insured or the insured will designate the beneficiary as his spouse, children or parents, but sometimes it will also write "legal" or "legal heir". In this case, if the specific deceased beneficiary is not designated, it is impossible to avoid the payment of insurance money as the insured's estate to be distributed among the heirs again, so that the insurance itself has the exclusive benefit, seamless inheritance, rapid compensation, personal property attributes and other functions can not be realized. Therefore, it is recommended that you sort out your family's policies and adjust the beneficiaries appropriately.
-See Articles 18, 39, 40, 41, 42 of the Insurance Law
5, the insured does not truthfully declare the age of the insured, can it?
You can't.If the age of the insured declared by the insured is not true and his true age does not meet the age limit stipulated in the contract, the insurance company may terminate the contract and refund the cash value of the insurance policy in accordance with the contract. At the same time, the relevant provisions of Article 16 of the Insurance Law on the failure of the insured to perform the obligation of truthful notification cause the insurance company to exercise the right to terminate the contract. If the age of the insured declared by the policyholder is not true, resulting in the policyholder paying less or more than the premium payable, the insurance company may require the policyholder to pay or refund the premium, or pay the insurance premium in proportion to the premium paid (less) and the premium payable.
-See Article 32 of the Insurance Act.
6. Can parents insure multiple high-value life insurance contracts for their minor children on the condition of death?
You can't.According to the provisions of the notice of the China Banking and Insurance Regulatory Commission, for the life insurance taken out by parents for their minor children, before the insured reaches adulthood, the total amount of insurance paid by the insured in each insurance contract and the actual payment by each insurance company at the time of the insured's death The total amount of insurance money shall be implemented according to the following limits: (1) For the insured under 10 years old, it shall not exceed 200000 yuan; (II) for the insured under 18 years old, no more than $500000. For example, the amount of aviation accident death insurance, the amount of accident death insurance for major natural disasters, as well as the insurance premium paid by the insured, the cash value of the contract at the time of the death of the insured, the value of the account, etc. are not calculated in the above limits.
-See Articles 33 and 34 of the Insurance Act.
7, the insured committed suicide, intentional crime, the insurance company will not compensate?
Look at the time, look at the situation.If the insured commits suicide within two years from the date of the establishment of the insurance contract or the restoration of the validity of the contract, the insurance company shall not bear the responsibility of paying the insurance premium, and the insurance company shall only refund the cash value of the insurance policy. However, after more than two years, if the insured commits suicide, the insurance company is liable for the payment of insurance benefits. If the insured commits suicide as a person with no capacity for civil conduct, the insurance company shall be liable for the payment of insurance benefits regardless of whether the establishment or restoration of validity of the insurance contract exceeds or is less than two years. If the insured intentionally commits a crime or resists the criminal coercive measures taken in accordance with the law, the insurance company shall not bear the responsibility of paying the insurance premium; if the insured has paid the insurance premium for more than two years, the insurance company shall refund the cash value of the insurance policy in accordance with the contract.
-See Articles 44 and 45 of the Insurance Act.
8. If the insurance company pays compensation to the insured due to the actions of a third party, does the insured or beneficiary still have the right to claim compensation from the third party?
The right to claim compensation.According to the provisions of the Insurance Law, if the insured has an insurance accident such as death, disability or illness due to the behavior of a third party, the insurance company shall not have the right to recover from the third party after paying the insurance money to the insured or beneficiary, but the insured or beneficiary shall still have the right to claim compensation from the third party.
-See Article 46 of the Insurance Act.
9, the policyholder has paid the insurance policy and insurance premium, the insurance company has not yet issued the policy, at this time the insurance accident, the insurance company will not compensate?
should be compensated.If the underwriting conditions are met, the insurance company shall bear the insurance liability; if the underwriting conditions are not met, the insurance company shall not bear the insurance liability, but shall refund the insurance premiums already collected. If the insurance company claims that it does not meet the underwriting conditions, it shall bear the burden of proof.
-- See Article 4 of the Judicial Interpretation (II) of the Insurance Law.
10, life insurance company bankruptcy, our life insurance contract?
Other life insurance companies take over. The life insurance business operated by insurance companies includes life insurance, health insurance, accident insurance and other insurance businesses. An insurance company engaged in life insurance business shall not be dissolved except as a result of division, merger or dissolution according to law. If an insurance company engaged in life insurance business is revoked or declared bankrupt according to law, the life insurance contract and liability reserve held by it must be transferred to other insurance companies engaged in life insurance business; if a transfer agreement cannot be reached with other insurance companies, the insurance company engaged in life insurance business shall be designated by the Bancassurance Regulatory Commission to accept the transfer.
-See Articles 89, 92, 95 of the Insurance Act.
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