Research On The Legal Attributes Of The Cash Value Of Life Insurance Policies

Cash value is a kind of special rights and interests stipulated in life insurance contract.From the source and nature of cash value of life insurance policy,cash value of life insurance policy is a kind of property right.Specifically,it is a kind of conditional creditor's right,the creditor's right is not personal exclusive and can become the subject of enforcement.Based on the existing theory of the ownership of the cash value of life insurance policy,it should be owned by the policyholder in general and the ownership problem in special cases such as the death of the policyholder or the reinstatement of the policy should be stipulated separately.In judicial practice,the way in which the court directly deducts the cash value of life insurance policy has no legal basis,and there are certain obstacles in the application of subrogation enforcement rules.Therefore,the emergence of the principle of "double subrogation" of creditors can solve the theoretical basis of the enforcement of life insurance policies to a certain extent.But the path does not conform to the principle of proportion and there is still a better way of enforcement in practice.The enforcement of the cash value of life insurance policies can actually start from the diversification of the subject-matter of enforcement.In addition to the return of the cash value of life insurance policies as well a the realization of cash value,the right to pledge loans,the right to claim payment of insurance dividends and the right to withdraw part of the value of the segregated investment account can realize the realization of the cash value of the life insurance policy and become the subject of the compulsory execution of the cash value of the life insurance policy.Through the application of subrogation or subrogation execution rules,the determination of different execution subjects can be achieved.In order to balance the interests of all parties as well as in the design of specific enforcement rules,we should first take controlling enforcement measures and then take disciplinary enforcement measures,but in the disciplinary enforcement measures,we should take the "double subrogation" of the creditor as the "bottom guarantee program" for the realization of the creditor's rights.At the same time,through the right of intervention and enforcement immunity,the introduction of exemption system protects and balances the rights and interests of insurance stakeholders.