On The Pledge System Of Policy

Policy can be pledged,the establishment of the right pledge.The insured person may act as a pledgee for the pledge of the policy.The beneficiary may also become a pledgee for the pledge of the policy under certain conditions,but the insured person can not act as a pledgor.A wide variety of policies can be pledged to meet certain conditions.The pledgee shall have the right of rescission of the insurance contract because of the policy of holding the pledge.When the subrogation of the pledge object and the pledge of the pledge of the policy,the priority of the two rights shall be determined by the effective date of the notice and the time of registration of the mortgage.The insurer's objection to the pledge will not lose the right of plea of the pledgee,but will decide whether to enjoy the right of defense in accordance with the act of the insurer at the time of signing the pledge of the policy.In the process of pledging,there will be a lot of legal problems in the pledge process,which need to be improved by the relevant laws and the need to ensure the reasonable control of the conditions of the policy in the pledge process.The pledgee shall deliver the policy with the cash value to the pledgee and inform the insurer of the fact that the pledge is set up and the insurer shall make the appropriate endorsement.