Title III: Rules relating to life insurance and capitalisation operations

The sums due under a fidelity guarantee are reduced in the event of redemption before the expiry date of the guarantee, in accordance with the terms and conditions laid down by decree.

Temporary insurance policies in the event of death, as well as immediate life annuities or annuities in payment, may not be reduced or surrendered. Survivor’s capital and survivor’s annuity insurance, insurance in the event of life without counter-insurance and deferred life annuities without counter-insurance may not include surrender. Life insurance contracts whose benefits are linked to the cessation of professional activity, including contracts covered by the supplementary pension scheme set…

The insurance company has a period of fifteen days, after receiving notice of the death and becoming aware of the beneficiary’s details, or at the end of the term of the contract, to ask the beneficiary of the life insurance contract to provide all the documents required for payment. On receipt of these documents, the insurance company pays the guaranteed capital or annuity to the beneficiary of the life insurance…

The insurance contract ceases to have effect in respect of a beneficiary who has been convicted of having wilfully caused the death of the insured or the contracting party. The amount of the surrender or transfer value, where this exists, or failing this the mathematical reserve determined on the basis of the parameters set out in the policy conditions, must be paid by the insurer to the policyholder or his…

Where the insurer has no knowledge of the designation of a beneficiary, by will or otherwise, or of the acceptance of another beneficiary, or of the revocation of a designation, the payment of the guaranteed capital or annuity to the person who, but for the designation, acceptance or revocation, would have been entitled to it, shall discharge the insurer in good faith.

An error as to the age of the insured only renders the insurance null and void if the insured’s true age is outside the limits set for the conclusion of contracts by the insurer’s rates. In any other case, if, as a result of such an error, the premium paid is lower than that which should have been paid, the capital or annuity guaranteed is reduced in proportion to the…

All information, including advertising, relating to a life insurance contract or capitalisation contract shall be accurate, clear and not misleading. Advertising shall be clearly identified as such.

I.-Sums due under life insurance contracts and capitalisation bonds or contracts which are not the subject of a request for payment of benefits or capital are deposited with the Caisse des dépôts et consignations at the end of a period of ten years from the date on which the insurer becomes aware of the death of the insured or the expiry of the contract. The deposit is made in the…