Research On The Attribution And Segmentation Of Marital Insured Property

As an important part of content involved in marital relationship property, insuredproperty rarely appears in Chinese Marriage Law and relevant laws and regulations.Therefore, based on the comparative study of U.S whom is regarded as arepresentative of the countries where the legislation of insurance laws is relativelyadvanced, I put forward my own opinions on the improvement of policies in ChineseMarriage Law field.The main body of the paper is divided into four parts together. After comparing andresearch with the relevant policies of American Insurance Law, it analyzes theshortages of China’s existing laws and regulations when dealing with the maritalproperty relationship involved in insurance-related property, and it believes thatmarital insured property should take different approaches depending on the time whenpurchasing the insurance and the source of funds. Besides, the legitimate interests ofparties to the marriage should be protected by setting certain restriction when usingmarital common property to purchase an insurance product.The first part defines the precondition of the dissertation as well as proving thenecessity and feasibility of research on the attribution and segmentation of maritalinsured property. Research on this issue can settle disputes involved in insuranceproperty in real life, improve the legal property system of china, provide legal basisfor court hearing the divorce cases involved in insurance property and protect thelegitimate interests of parties to the marriage. Meantime, the economic value of theinsurance, the transferability of the insurance contract and the alterability ofbeneficiary offer feasible paths to the segmentation of insured propertyThe second part takes the research perspective of comparative law to study therelevant policies of American Insurance Law primary. In U.S, states which adoptdifferent matrimonial systems take different standards to the attribution of insuredproperty. Among them, states adopt common property system offers a larger referenceto us, especially the ways how American Insurance Law settles the impact of divorceon whether the former spouse can be the counterpart’s beneficiary. The third part analyzes the debates, analysis and evaluations of various viewpointsof the relevant fields under the Chinese existing laws and regulations. It puts emphasison the analysis of how to identify the attribution of property insurance premiums anddeath benefits acquired in the duration of the marriage, how to settle the insurancecontract still in effective period while divorcing and the debates and settlements ofimpact of divorce on whether the former spouse can be the counterpart’s beneficiaryThe last part is the focus of this paper. It discusses the way how to improve theprovisions of China’s Marriage Law and its related laws and regulations in theinsurance and property involved in marital relations. First of all, the legitimateinterests of a spouse should be protected by setting certain restriction when usingmarital common property to purchase an insurance product. Second, divorce should,in principle, affect the former spouse as the beneficiary of the insurance contract toget the insurance money, but there should be exceptions to full respect for the truewill of the insured person. Third, legislation should improve the settlement when oneparty uses the common property without authorization to purchase insurance, and theparty who violates of the rights and interests of the other party shall bear thecorresponding legal responsibility. At last, attribution and segmentation of maritalinsured property should be based on the time when purchasing the insurance, thesource of funds and the nature of the insurance contract itself.