A life insurance is an individual insurance (in contrast to the social security)), with the contribution and achievement after the equivalence principle (contribution corresponds to achievement) to be determined. Within the individual insurance it is a Personenversicherung. The achievement (insured sum) becomes due with death, experiencing the expiration or with entrance of serious diseases ("“sum insurance"”, contrary to the "“indemnity insurance"”, with which an objective insured value is determinable: Furniture, disease costs).

The life insurance is calculated in its insurance-technical core (so-called net premium) on basis of biometric risks (e.g. number of deaths, longevity, serious illness), the separating order in such a way specified. The most well-known separating order is the dying board of the German registrar combination, thus the statistical experts.

History

First life insurances developed in antique Rome, where "“funeral associations"” the funeral costs of their members took over as well as the survivors used financially supported. Modern life insurances became in late 17. Century in the life called, but originally as commercial insurance. Buyers, shipowners and Underwriter so mentioned met in Lloyd's Coffee House, the forerunner of the today's well-known insurance Lloyd's OF London.

In the United States the first insurance developed 1732 in Charleston, South Carolina; however it offered only to remunerations with fire. The sales of life insurances began into the late 1760er years. The Presbyterianer Synoden in Philadelphia and New York the corporation for relief OF Poor and Distressed Widows and Children OF Presbyterian of Minister (combination for the support of the poor and and distressed widows and children of presbyterianischer priests) was created 1759; Priests of the episkopalischen church organized a similar fund in the year 1769.

Before the American civil war many societies of the USA insured the lives of the slaves - beneficiaries of possible remunerations were however the slave owners. Laws forced 2001 and 2003 the insurance to it, their archives after life insurance policies at that time to through forests.

As "“more modern"” origin are considered the burial funds 19. Century, which would use statistical principles for the first time. In Germany starting from 1827 life insurances by the Gothaer life insurance bank were sold. 2004 existed in Germany 95 million contracts with an investment of 618 billion euro.

Right framework

Life insurances can be operated only in the legal form of the German corporation (AG), the cooperative insurance company on mutuality (a.G., a character of the cooperative) or as address of a European insurer in the German inland. The national permission and supervision take place via the Federal Institution for financial services (Bafin). The supervision and the guidance of a life insurer are essentially in the law of supervision of insurance regulated (VAG). A life insurance contract comes off between the life insurer (VR) and the insurant (VN) as follows: a notification of acceptance of the insurer follows the insurance proposal of the applicant, i.d.R. by the agreeing contentwise insurance policy (colloquial "“policy"”). Only starting from this document the "“applicant"” becomes the "“insurant"” (VN). A reason for this linguistic difference is temporally the risk examination lying between request and insurance policy by the VR.

Consumer protection: Actual however coming off (fundamental all kinds of the private insurance) is to be regarded contract under aspects of consumer protection. Thus in the preface of the VVG occasionally the insurance proposal than "“request of the applicant of the insurance company was regarded for the delivery of an offer"”. As this "“offer"” regularly the insurance policy ("“policy"”) is meant, which the VN accepts or by contradiction within 30 days rejects by silence and numbers. Further basic condition participates that the VN has all conditions of insurance and consumer information. Missing documents restrain the contradiction period.

Beginning of insurance:

Three special "“beginning"” must be given all, so that the insurance protection exists:

• 1. Technical beginning: in the request designated time of the beginning of insurance
• 2. Formal beginning: Entrance of the (i.d.R. entrance of the insurance policy),
• 3. Material beginning: Day of the payment of dues (entrance of the redemption premium - - with the VR, insurance premiums are so-called "“sending debts"”, i.e. the payment of dues takes place at "“expense and risks"” of the VN).

The VR has in-complainable right to contributions and in-complainable obligation to grant insurance protection. The VN has the reverse rights and obligations. Besides the VN does not have in-complainable Nebenpflichten ("“Obliegenheiten"”) by the VR. An injury of its Obliegenheiten cannot in-complain the VR; they lead however with causal (causal) connection with the occurring of the accident to the failure of the achievement. Example: VN concealed a briefly which is past heavy illness in the request form. In this case the VR can withdraw from the contract (burden of proof with the VN), later than 3 years after beginning of contract can the VR only because of bad-cunning deception contest (burden of proof with the VR).

The right of the insurance contract is regulated in the insurance contract law (VVG), its amending to 01.07.2007 lines up.

Beside the VN as contracting parties three further persons functions on customer side play a role in the insurance contract with a life insurer:

• 1. Contribution payer: = contribution paying person (contribution debtor probably remains the VN)
• . person insured 2: = yardstick of the premium computation, must agree the conclusion of the insurance contract however ("§ 159 VVG)
• 3. Beneficiary: = persons entitled for the receipt of the insurance benefit (when death/experiencing, distinguishable)

As characteristic of the life insurance contract the subscription right is to regard, which regulates, which person (EN) death and experiencing drop achievements from the insurance contract received.

Articles in category "Life insurance"

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