Chapter II: Life insurance and capitalisation operations

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…

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…