Chapter II: Life insurance and capitalisation operations

A person’s life may be insured by himself or by a third party. Several people can take out reciprocal insurance on each other’s lives in a single deed.

Insurance in the event of death taken out by a third party on the life of the insured is null and void if the insured has not given his or her consent in writing, specifying the capital or annuity initially guaranteed. The insured’s consent must, on pain of nullity, be given in writing for any assignment or pledge and for the transfer of the benefit of the contract taken out…

It is forbidden for anyone to take out insurance in the event of the death of a minor under the age of twelve, an adult under guardianship or a person placed in a psychiatric hospital. However, this prohibition does not apply to the funeral finance packages referred to inarticle L. 2223-33-1 of the General Local Authorities Code taken out on the life of an adult under guardianship. Any insurance contracted…

Insurance in the event of death may not be taken out by another person on the life of a minor who has reached the age of twelve without the authorisation of the parent who has parental authority, or of the minor’s tutor or curator. This authorisation does not dispense with the personal consent of the incapable person. In the absence of such authorisation and consent, the contract shall be declared…

When guardianship has been opened in respect of the stipulator, the subscription or surrender of a life insurance contract and the designation or substitution of the beneficiary may only be carried out with the authorisation of the guardianship judge or the family council if it has been constituted. After the opening of a guardianship, these same acts may only be carried out with the assistance of the guardian. By way…

To ensure the security of the parties and the clarity of the contract, life insurance contracts and capitalisation contracts must include clauses defining the purpose of the contract and the respective obligations of the parties, in accordance with the terms set out in a decree issued by the Conseil d’Etat. The contract specifies the conditions for the allocation of technical and financial profits. Insurance contracts with surrender values and life…

Any natural person who has signed an application or a life insurance or capitalisation contract may cancel it by registered letter or by electronic registered mail, with acknowledgement of receipt, within a period of thirty calendar days from the date on which they are informed that the contract has been concluded. This period expires at midnight on the last day. If it expires on a Saturday, Sunday or public holiday,…

Before a life insurance or capitalisation contract is taken out by an individual, the insurer must provide the individual with an information note, in return for a receipt, setting out the conditions for exercising the waiver option and the essential provisions of the contract. A decree sets out the information that must be included in this note, particularly with regard to unit-linked policies. However, in the case of insurance or…

For group life insurance contracts mentioned in article L. 141-1 with surrender or transfer values, where the relationship between the subscriber and the policyholder does not make membership of the contract compulsory, the information sheet provided by the policyholder includes, in addition to the information mentioned in the second paragraph of article L. 141-4, that contained in the memorandum mentioned in article L. 132-5-2. The box mentioned in the first…

A life insurance policy cannot be either to order or bearer.