Discussion Of Property Rights Of Life Insurance Products

Since the recovery of the insurance industry of China in1979, China’s life insurance market has been developing rapidly. With the rapid development of Chinese economy, people to satisfy the material civilization life and a certain degree of spiritual civilization life, remain more and more money. Many families are beginning to put the surplus money on Investment and financing. Obviously, the investment functional innovative insurance products and the participating life insurance products will become family’s choice. With China’s deepening the aging, China’s gap of old age pension increases continuing. In order to have a decent later life, more and more families begin to buy commercial endowment insurance. At present, China’s divorce rate is increasing. How to split the property rights of life insurance products, which puts many divorced families in trouble. There may be sharp, irreconcilable contradiction between husband and wife. If any effective ways to split property rights of life insurance products are not taken, the insured’s personal safety will be threatened because of the existence of moral hazard. In order to prevent the moral hazard that the insured maybe face, the couple should be timely, reasonably and fairly split the property rights of life insurance product. The judicial interpretation of the Marriage Law has a clear segmentation of real estate, stock and bond, but does not make any segmentation rules of how to split the property rights of life insurance product between divorced couples.At present, domestic researchers have been carried on some related studies, but have not researched the property rights division of sub types of life insurance in detail after divorcing and the proposed segmentation method are simple and there is no agreement on whether life insurance product property rights belong to the common property of the couple. In order to save judicial resources, avoid moral hazard and how to deal with the property rights division of life insurance product reasonably and fairly after divorcing, it is necessary to carry on further research from different insurance types and different situations and the relevant department should formulate some regulations as soon as possible. This paper introduces the property rights of different types of life insurance products based on the researches before, and put forward the corresponding segmentation for each situation. This paper is divided into five parts to analyze the property rights division of life insurance products after divorcing.The first part is the introduction and mainly introduces the purpose and significant of this topic that is, in short, to solve real life problems of property rights division of life insurance products faced by divorced couples. And then, this paper introduces the relevant researches of domestic researchers and some foreign related concepts that we can learn from.The second part is the basic theory of life insurance products and the joint property of husband and wife. This part interprets the definition, two kinds of division types, and four characteristics of life insurance products, and introduces the definition, five characteristics and five kinds of division way of the joint property of couples, and put forwards the reasons, from the positive and negative aspects and the feasibility, that the life insurance products belong to the common property of couples. As to divorcing, this part paves the way for the property rights division.The third part is about the property rights of life insurance products. It introduces the definition of property rights, which includes real rights and creditor’s rights. And then, this paper introduces the property rights of the traditional protection oriented life insurance products, the innovative life insurance products and the participating life insurance products in detail.The fourth part is about the property rights division of the life insurance products. It introduces common three big kinds and seven kinds of situations of life insurance products’ ownership and division types. It interprets and compares the four different types of division way. In two special situations, unauthorized by both sides and indebted situations, when buying life insurance products, this paper discusses how to-split the property rights of life insurance products. The final propose is to split the rights of policy cash value claim, investment income rights and the rights to receive dividends. The fifth part is about the thinking and suggestion of the property rights division of life insurance products. And then, thinking about the policy holder, the beneficiary and the life insurance product design aspects. And last, this paper gives some advices to judicial practice, insurance company and the society.