Title III: Rules relating to life insurance and capitalisation operations

Subject to the provisions of articles L. 262, L. 263 B and L. 273 A of the Book of Tax Procedures, article 387 bis of the Customs Code, article L. 1617-5 of the General Local Authorities Code and II of article 128 of law no. 2004-1485 of 30 December 2004 amending the Finance Act for 2004, the capital or annuity guaranteed in favour of a specific beneficiary may not be…

Any beneficiary may, after accepting the stipulation made in his favour and if the transferability of this right has been expressly provided for or with the consent of the contracting party and the insured, transfer the benefit of the contract himself by an assignment in the form set out in article 1690 of the Civil Code.

The benefit of the insurance contracted by a spouse with joint ownership of property in favour of his or her spouse constitutes a private asset for the latter. No compensation is due to the community for premiums paid by it, except in the cases specified in the second paragraph of article L. 132-13.

Article L. 624-6 of the French Commercial Code concerning the rights of the spouse of a debtor in receivership does not apply in the case of life insurance taken out by a trader for the benefit of his spouse.

In the event of the concealment or misrepresentation referred to in article L. 113-8, in the event that the insured has voluntarily taken his own life during the period referred to in article L. 132-7, or when the contract excludes death cover due to the cause of death, the insurer shall pay the policyholder or, in the event of the insured’s death, the beneficiary, a sum equal to the surrender…

Any interested party may stand in for the policyholder to pay the premiums.

The insurance or capitalisation undertaking has no right to demand payment of premiums. If a premium or fraction of a premium has not been paid within ten days of the due date, the insurer shall send the contracting party a registered letter informing him that, at the end of a period of forty days from the date of dispatch of this letter, the non-payment, to the insurer or to the…

The contract specifies the methods for calculating the surrender value or transfer value and, where applicable, the reduction value. For the calculation of the reduction value, no reduction allowance may be deducted from the mathematical provision determined on the basis of the parameters provided for in the policy terms and conditions. Within the limit of the surrender value of the contract, the insurer may grant loans to the policyholder. If…

For all life insurance policies with a surrender or transfer value and for all capitalisation policies, the surrender or transfer value, where applicable, is equal to the difference between the current value of the commitments made by the insurer and the policyholders respectively, within the limit, for the surrender value of life insurance policies, of the amount insured in the event of death. The surrender or transfer value of the…

Each year, the insurance or capitalisation company will inform the policyholder of: -the amount of the surrender value or, for contracts linked to the cessation of professional activity, the transfer value ; the amount of the surrender value or, in the case of contracts linked to the cessation of professional activity, the transfer value; – where applicable, the amount of the reduction value of the contract; -the amount of capital…