Category: Insurance tips Release Date: 2006-08-01
Are familiar with the common life insurance terms of the contract (Part One)
In order to regulate insurance, so as to protect the legitimate interests of parties to the contract, "Insurance Law" the relevant elements of life insurance contracts were uniform regulations and requirements. Because these provisions are often used to form a life insurance contract, general terms. So we spend some time together to understand these terms is very beneficial.
(A) suicide clause in the contract if the insured person or re-entry into force of effect within two years of suicide, life insurance companies do not pay insurance premiums, if the suicide occurs after two years, life insurance companies can pay insurance.
(B) the grace period provisions: Paying for the staging of the policy, in the second period and thereafter to pay premiums when due after another life insurance company gives a grace period (generally 60 days, please refer to the terms of the specific time), such as No more than the grace period to pay premiums, then the effect of suspension of insurance contracts, such as the effectiveness of the suspension occurred after the insurance policy accident, life insurance companies to live up liability insurance.
(C) reinstate provisions: After a grace period for policyholders to pay premiums, which results have not yet scheduled the effectiveness of insurance contracts terminated within two years, the insured may apply to the life insurance company to apply for re-efficiency, through the examination and approval of life insurance companies, insurance the effectiveness of the contract were suspended during the period of back premiums and interest, restore the effectiveness of the policy, known as Reinstatement.
(D) does not lose the value of provisions: the insured pay the premiums for more than two years after the policy will accumulate a certain cash value. This cash value is not a result of policy changes in the effectiveness of the loss of their insured if surrender, this part of the cash value of life insurance companies should be refunded to the policyholders.
Familiar with the common life insurance terms of the contract (Part II)
(A), age misreporting provisions: the insured declared age of the insured person is untrue, and its true age, the contract does not meet the age limit, the life insurance company can cancel the contract, but since the contract date of the establishment of more than two years exception. Insured age of the insured person declared untrue, leading to less than the insured to pay premiums to cope with the premium, the life insurance companies have the right to correct and to ask the insured pay up insurance premiums, or pay insurance premiums, in accordance with paid the ratio of insurance premiums paid and payable. Insured age of the insured person declared untrue, leading to more than the insured paid premiums to cope with insurance premiums, life insurance companies overcharged the insurance premium should be refunded to the insured.
(B), the beneficiary provisions: the beneficiary by the insured person or policyholder designated. Insured designated beneficiary shall be subject to the consent of the insured. The beneficiary can be one or several persons, the beneficiary number of people, you can specify the order of benefit and benefit of the share of undetermined share of the benefit, the beneficiary in accordance with an equal share of the enjoyment of beneficial interest. If there is no designated beneficiary, or beneficiaries of the insured person died before there are no other beneficiary or beneficiaries in accordance with law or loss of beneficial interest to give up doing, there are no other beneficiaries of the cases, after the death of the insured person's insurance payments as a the insured person's estate, heirs receive.
(C), liability exclusion clause: In order to prevent the intentional acts, contrary to morality or an offense caused by the accident, as well as the risk of unpredictable incidents, life insurance companies are generally not covered, known as "exclusions" or "exclusion of liability." This one is also very important, policyholders should be noted that nothing non-life insurance companies are not insured. Because a wide range of life insurance. Insurance have their own characteristics, so even if the terms used will vary, so when you buy life insurance, be sure to read the terms of the various elements.
