On The Legal Status Of The Beneficiary

The applicant for insurance or the insured insures in order to give the insurance beneficiary economic compensation and security. It's the fundamental purpose of the insurance contract. To realize this aim, it is very important the insurance beneficiary holds his own right. It is senseless to mention insurance beneficiary if there is no insurance beneficial right. So the insurance beneficiary system plays an important role in the whole system. But there are much irrationality concerning the insurance beneficiary system in the current law of insurance. In order to make a particular and penetrating analysis of the insurance beneficiary system, comparing with overseas matured insurance ideas, the article analyses its existing field, theory of law, designation and alteration, and discusses the legal status, extermination, protection and limitation of the insurance beneficial right on the basis of the insurance beneficiary. At the same time, the article puts forwards some proposals on the current legislation of the insurance law, and tries to make the insurance beneficiary system more reasonable, scientific and systematic. The thesis contains five parts. In the introduction, the author overviews the insurance beneficiary's background and present status, and explains the reason why she chooses this topic and the methodology that she applies to solve the problem. In Part One, the author defines the field of the insurance beneficiary. In Part Two, to get at the root of the matter, the author analyses the insurance beneficiary's theory of law based on the historical development of the contract for the third beneficiary in Anglo-American legal systems and civil law system.In Part Three, the author discusses establishment of the insurance beneficiary from the points of its designation and alteration. From the insurance purpose, the author puts forward that insurable interest also applies to the insurance beneficiary who is designated by the applicant for insurance or the insured. In Part Four, the author discusses the right of the insurance beneficiary. The author analyses its legal status from the legal source, the character of the right, and comparing with inheritance. And then the author shows clearly the right of the insurance beneficiary has two different phases.In Part Five, the author discusses the protection and limitation of the insurance beneficial right. The protection involves the transferee of policies of insurance, the insurance beneficiary of group life insurance contract and the applicant for insurance who hurts the insured. To prevent the applicant for insurance or the insured from escaping their own debt by dint of life insurance system, the right should be limited for the interests of interrelated creditors. At last, the author summarizes the article.