Research On The Legal Issue Of Pledge Of Personal Insurance Policy

With the rapid development of modern society, to meet the increasingly enlarged needs of investment, the circulation functions of assets are highly valued. Under this background, besides the single function of "share risk and digest lost ", the insurance has developed multiple-functions, such as saving and investment. As the credence of the holder's rights, policy has become the real carrier to realize this function, then the pledge of policy has emerged with the tide of the times. When the applicant has consigned the insurance premium of certain term, life insurance policy has begun enjoying the cash value, and has the non-forfeiture value. Therefore, the realization of the warranted obligation has become reliable. In practice, the business of pledge of life insurance policy has been already boomingly developed. Each insurance company either regards itself as the lender to release the business or collaborates with bank and regard bank as the lender to release the business. However, neither the school circle nor the commerce circle has reached an agreement or systematic rules, which results in lacking the uniform criteria among insurance companies or banks. Based on the foundational theories of policy, this paper tries to discuss the foundational theories and the pledgible of life insurance policy, and release some personal views as to the establishment validation and realization of pledge of life insurance policy, and analyze some problems in practice. The full paper is divided into four parts, involving about more than 35,000 words.The first part analyzes the foundation of the policy. We think the policy of assurance is the proof of the contract of insurance, namely, on the one hand is the proof of the claim of insurance contract, and on the other hand is the proof of the holder's rights.The second part discusses the principle of the pledge of the policy. Through the comparative analysis of general pledge, we regard the pledge of policy as the pledge of claim in the pledge of rights.The third part analyzes the pledgible of life insurance policy. As it has non-forfeiture value, life insurance policy has the possibility and reality to be pledged.The fourth part research the establishment validation and realization of pledge of life insurance policy, and analyzes the problems in practice.