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Data:2009-12-12 2:34
50-year-old Mr. Zhao in 2000, purchased a life insurance, life and death Endowment, choose the 10-year installment premium payment method, insurance and the amount of 150,000 yuan. May 8, 2000, his initial 6500 yuan to pay the premium, the insurance contract in force. The contract provides that the insured person dies before 60 years of age, their beneficiaries will receive two times the amount of the insurance premiums 300,000 yuan.
May 3, 2003, Mr. Zhao did not due to travel to Lanzhou, the timely payment of premiums. May 11, Mr. Zhao died in a road accident on his way back. Well, Mr. Zhao's policies still valid? He could receive insurance payments do? Wuhan University's insurance experts believe that Mr. Zhao's case, involving a grace period of life insurance contract terms.
Terms of the grace period is the life insurance premiums paid in installments in the contract, if the insured does not pay due, according to China's "Insurance Law" stipulates that insurance companies will give policyholders 60 days grace period, the insured as long as the within the grace period to pay the premiums, insurance contracts remain in force. If the insured person did not have time fee during the grace period the insurance accident occurred, the insurance company have to bear the insurance responsibility, but the insurance premium payments should be deducted in the current insurance premium to be paid.
Mr. Zhao's death occurred during the grace period, insurance companies deal with their negative liability insurance. Their beneficiaries will be in accordance with contract stipulations had 30 million in insurance payments, subject to deductions for their outstanding premium 6500 yuan, that is, its beneficiaries actually received insurance proceeds in payment for 300,000 yuan -0.65 million = 293.5 thousand yuan.
