Title III: Rules relating to life insurance and capitalisation operations

Any natural or legal person may request by letter or any other durable medium from one or more representative professional bodies, authorised for this purpose by order of the Minister for the Economy, to be informed of the existence of a stipulation made for their benefit in a policy taken out by a natural person for whom they provide proof of death by any means. Within fifteen days of receipt…

I. – The insurance companies mentioned in 1° of article L. 310-1 of the present code as well as the provident institutions and unions governed by Title III of Book IX of the Social Security Code inform each other, at least once a year, under the conditions set out in II of the present article, of the possible death of the insured. II – The professional bodies referred to in…

Each year, the insurance undertakings, provident institutions and associations referred to in I of article L. 132-9-3 publish the number and outstanding value of unpaid contracts, each in respect of its own business. They shall specify the steps taken, the number of searches and the number and outstanding value of the corresponding contracts that they have carried out during the year in application of articles L. 132-9-2 and L. 132-9-3,…

Each year, the professional bodies mentioned in article L. 132-9-2 publish a report on the application of articles L. 132-9-2 and L. 132-9-3, which includes the number and outstanding amount of life insurance policies taken out with their members, meeting the criteria set by order of the Minister for the Economy, for which the capital or annuities due have not been paid to the beneficiary.

Each year, insurance companies offering life insurance policies with benefits linked to the cessation of professional activity inform policyholders who have exceeded the settlement date of their pension under a compulsory old-age insurance scheme or, failing that, the date referred to in article L. 161-17-2 of the Social Security Code, of the possibility of settling benefits under the policy. Each year, they draw up a report for the Autorité de…

At least once a year, insurance undertakings send electronically to the group mentioned in the first paragraph of article L. 161-17-1 of the Social Security Code the information required to implement the provisions of article L. 224-7-1 of the Monetary and Financial Code.

The insurance policy may be pledged either by endorsement or by deed subject to the formalities set out in articles 2355 to 2366 of the Civil Code. Where the beneficiary’s acceptance precedes the pledge, the pledge is subject to the beneficiary’s agreement. Where the beneficiary’s acceptance is subsequent to the pledge, it has no effect on the rights of the secured creditor. In the absence of a clause to the…

Where the insurance in the event of death has been taken out without the designation of a beneficiary, the guaranteed capital or annuity forms part of the policyholder’s estate or succession.

The capital sum or annuity stipulated as payable on the death of the insured to a specific beneficiary or to his heirs does not form part of the insured’s estate. The beneficiary, whatever the form and date of his designation, is deemed to have had sole entitlement to it from the date of the contract, even if his acceptance is subsequent to the death of the insured.

The capital sum or annuity payable on the death of the contracting party to a specified beneficiary is not subject to the rules governing equitable inheritance or to the rules governing reduction on the grounds that the contracting party’s heirs have been deprived of their right of inheritance. Nor do these rules apply to sums paid by the contracting party as premiums, unless these were manifestly exaggerated in view of…