Chapter II: Life insurance and capitalisation operations

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…

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.