Study On Life Insurable Interest

The theory of the insurable interest was improved in the newly modified"Insurance Law of the People's Republic of China"in February,2009 and insists its application in life insurance. It points out the difference between life insurance and property insurance, defining the owner, the existence time and the influence of the insurance contract. Compared with the former which defined too generally, these amendments make a big progress. But the new amendments investigated don't break through the key points of the insurable interest and they seemed not so scientific and rational. Since the insurable interest came into being, its definition and concrete application have been the vexed theoretic topic, especially on the adaption of the life insurance. Different law system and scholars hold their viewpoints and relevant reasons, unwilling to make concessions. There is no viewpoints can prevail over all dissenting views so you can imagine its difficulty. I consider every creation of the system has its special background so we should integrate its time in order to understand it, its object and analyse its function. We should carry out the"use doctrine"according to our national situation so as to bring the advantages into full play and promote social progress and development. The Insurance Law is to meet the insurable interest.The paper takes a different approach to this point and doesn't try to define insurable interest due to the way, which is not suitable for the disputable topic. It dates back to the origin of the insurable interest and sets down to the evolution of the history, which deduces the function of the insurable interest. Based on that, it probes whether insurable interest plays a role in life insurance, prevents gambling and moral risks effectively or not. After getting the positive answer, I put forward"Three Favorable" standard to test the concrete frame of insurable interest. On the one hand, it tries to describe the insurable interest as property insurance and life insurance. On the other hand, the question of insurable interest adapting to life insurance is analyzed and demonstrated.Insurable interest reflects the relationship between insurable interest and insurance object and its essence is a kind of economical interest, suitable for life insurance. To take respecting the people into consideration, the insurer should get the consent from the insured. Beneficiary should be the subject of the insurance interest. In the saving and financial life insurable contract, it is demanded that insurable interest should exist in the insured. Other life insurance contract regulating the contracts and the insured event can come into being. The application of the life insurance is divided into two parts: One is the person who has the relationship with the insured. The other is the person who has the trade relationship with the insured and the limiting is the relation of economical benefits. The regulation can take into effect after the insured explains the existence of the insurable interest and examines it.