On The Nature Of Property And Ownership Of The Insurance Policy

In recent years, there have been reports that units and state organs distribute bonus by using insurance policy instead of cash or some people deposit insurance into the bank. The property nature of insurance policy becomes a hot issue. And the present insurance-law theory and legal provisions, based on the theory of insurance contract, can't solve this problem. As to the nature of insurance policy, legal provisions of our country are indefinite, even conflicting ,and scholars come up with different opinions. This leads to uncertainty of judicial judgement. The modern insurance affairs can't be explained and regulated by present theory,legislation and judicial judgement, which can't catch up with ,even hinder the development of insurance. But the insurance policy is the main material carrier of insurance , the only thing which the insurance company give clients in return. Only making clear the property nature of the insurance policy will help definite the subject-object and subject-subject property relationships about rights and duties. Only in this way can we bring up fair and just criteria for judging insurance disputes. So the nature of insurance policy has become the problem to be solved urgently. This article starts with essential characteristics and fundamental elements of property, analyzes the property nature of traditional and modern insurance policy , then discusses the property nature of traditional insurance policy and terms of the property nature, finally concludes modern insurance policy has the property nature, and who can use the property.The structure is as follows:The first part makes clear present insurance legislation and scholar definition on the nature of insurance policies, finds existing deficiecis and the reasons why people are confused of this problem.On the basis is the only way out given for resolving the issue , which determines the direction of property law.The second part starts with this opinion that property includes rights, and then find property fundamental elements, and use the theory of fundamental elements of the property to analyze property nature of various types of property insurance policy ,and conclude that the consumer-oriented insurance policy can be regarded as property absolutely dating from the occurrence of incidents to the payment of insurance compensation, while it has certain property nature in other periods ; and investment-oriented insurance policy has property nature all the time.The third part, according to different sources of the property and different goals of the ownership of insurance policy, makes reasonable classifications about property ascription. To be specific, existing property (cash value) of investment-oriented insurance policies, as a result of direct funding from the insured and his "investment" income, should therefore be attributed to the insured; expectancy property(insurance compensation) of investment-oriented and consumer-oriented insurance policy can be realized on terms of the occurrence of the accident, and its property purpose is to "fill the damage" and should therefore be the first attributed to the subject of the accident insurance. So expectancy property of life insurance should be given to the insured firstly, then to the benificiaries appointed by the insured; that of property insurance should be attributed to the owner of subject matter, then to the beneficiaries; that of liability insurance should be attributed to the victim first, but after the actual implementation by the insured, can be attributed to the insured.