The Research On Our Country's Life Insurance Beneficiary System

At present, the study and the regulations about insurance beneficiaries are not thorough at home and abroad. The insurance laws and regulations about life insurance beneficiaries in our country are also not sound. The author only from the angle of beneficiaries in dead insurance, search the problems in our country's life insurance beneficiary system and propose the perfecting assumption, in order to safeguard the vital interests of insurant and beneficiaries better. At the same time, it will meet the applicant's purpose to buy life insurance and decrease the amount of disputes on life insurance beneficiary and save the judicial resources.The problems of life insurance beneficiary system in our country are as follows: Firstly, on designating life insurance beneficiary, the way of abstract designating is not prescribed in the law and the problem of writing "statutory beneficiary" in the policy should be solved immediately. Secondly, on changing life insurance beneficiary, the insurant's right to change the beneficiary is absolute; the validity of endorsing is not clearly defined in the legislation; according to the law, testament couldn't change the beneficiary, which violate the insurant's true desire and cause the conflict between the legislation and citizens'autonomy on intention; after divorced, the insurant forgot to change the original mate beneficiary, which result in plenty of disputes. Thirdly, the distribution of insurance compensation in special circumstances is not regulated in the law. Forth, the situation of transferring or mortgaging the policy is not prescribed concretely in our legislation.The defects in our country's life insurance beneficiary system mentioned as above made serious discrepancy between legislation and real life. Our country's insurance legislation should be perfected as soon as possible. To complete the life insurance beneficiary system, firstly, legislators should redefine the life insurance beneficiary and make clearly regulations about the way of listed and abstract specifying; legislators should strengthen the insurer's obligations of reviewing policies, to prevent the irregular writing such as "statutory beneficiary" from happening again. Secondly, on changing life insurance beneficiary, legislators should limit the insurant's right to change the beneficiary reasonably and define the validity of endorsing in the legislation clearly; legislators should allow the insurer and insurant make an arrangement to change the beneficiary in the testament; after divorced, when the original mate still as beneficiary, how to deal with the disputes should be prescribed in the law. Thirdly, the distribution of insurance compensation in special circumstances should be prescribed in the law. Forth, legislators should prescribe the effect of transferring and mortgaging the policy.