Research On Policy Pledge System

Compared with the financial system of developed countries,China’s insura nce industry started late,and there is still a big gap.Therefore,there is still a huge development potential and development space to explore.There is still a considerable gap between the number of policies held per capita in China and developed countries,so the development and popularization of insurance busine ss is necessary and inevitable.With the improvement of living standards and t he enhancement of risk awareness,the demand for insurance products in the d omestic market is also growing.I believe that with the gradual popularization of insurance products,especially the market penetration of various long-term lif e insurance products,perhaps the policy pledge loan will become one of the fi nancing options loved by fund demanders.As a new financing method,policy pledge loan has the advantages of low risk,flexible way and simple procedure.Policy pledge loan is conducive to s olving the problem of short-term capital turnover demand of policyholders,and at the same time,it is also conducive to expanding the profit channel of stock capital and increasing the liquidity of market capital.Under the background of tight bank credit business,it is more likely to be favored by the market.Atpresent,there is a lack of laws and regulations on policy pledge in China,and the long-term lack of legislation may restrict and affect the good development of financial products.However,the attention and discussion of policy pledge i n academic circles is conducive to deepen the further understanding of it and promote the development of legislation in this field.To study the policy pledge system,it is necessary to first clarify whether the policy can be pledged,that is,whether the rights under the single policy c an be pledged,and what characteristics the rights that can be pledged should c onform to.If the rights under the policy cannot be pledged,there is no need f or the policy pledge system.Not all rights can be used to pledge.To study th e policy’s pledgability,we can start from the general elements of the right ple dge and analyze the right’s pledgability under the policy.Comparing the genera l requirements of the right pledge for the transferability and the property attrib ute of the pledge right,based on the policy,we can see that there are two pr operty rights,one is the cash value claim of the applicant,the other is the ins urance benefit claim of the beneficiary.There are different opinions about whet her these two rights can be the subject matter of the pledge.This paper will f ocus on the policy in the first chapter Whether the rights can be pledged and whether the policy can be pledged are discussed.The policy pledge system involves multiple legal relationships,such as ins urance contract relationship,loan contract relationship and pledge contract relati onship.The legal relationship levels and internal relationships are complex.The refore,it is of great significance to clarify its constituent elements and legal ef fect for the study of policy pledge system.In the second chapter,this paper w ill analyze the subject,object and the setting of pledge right in detail from the perspective of the constituent elements of policy pledge.The policy pledge is based on the insurance contract.To study the constitutive requirements of thepledge,we need to consider the relationship between the insurance contract and the insurance contract,and analyze its impact on the constitutive requirements of the policy pledge.There are only Article 34 of the insurance law on policy pledge,which li mits the act of policy pledge with death as the payment condition,but there is no other explicit regulation.Although it is generally accepted that policy pled ge belongs to right pledge in the mainstream of academic circles in our countr y,because the guarantee law and property law of our country do not explicitly define policy as right pledge,the legality of policy pledge system has been cr iticized.This paper will make a brief analysis,and combine with policy pledge practice,on some specific operation means in practice It also makes a brief a nalysis and comparison based on the situations of different pledgees.Rights and obligations are relative.Individual rights mean the obligations of the opposite party.If the rights are given too much,the obligations of the opposite party will be too heavy to maintain,which is not conducive to the pr otection of rights.If the rights are too few,the requirements for the protection of rights will not be met.Therefore,how to balance the relationship between r ights and obligations,so that rights can be protected,while the burden of obli gation performance is not too heavy,this is a very worthy of thinking.When studying the policy pledge system,it is also worth considering the balance of i nterests between the pledge right and the related parties of the insurance contra ct.A comprehensive and perfect legal system can guarantee the development o f business practice and make it obtain considerable development.