The change of insurer refers to the change of insurance enterprise due to bankruptcy, dissolution, merger or division, and the transfer of part or all of its insurance contract responsibilities to other insurance companies or government-related funds with the approval of the state insurance regulatory agency.
If the applicant changes, as long as the new applicant has an insurable interest in the insured and is willing and able to pay the insurance premium, the life insurance contract can be transferred, but the insurer must be informed. If it is an insurance contract with death as the condition of payment of insurance benefits, the applicant must obtain the written consent of the insured himself before it can be changed.
The beneficiary is designated by the insured, or with the consent of the insured, and its change mainly depends on the wishes of the insured. The insured or the applicant may change the beneficiary at any time without obtaining the consent of the insurer, but the applicant must obtain the consent of the insured when changing the beneficiary. However, the beneficiary shall notify the insurer in writing, and the insurer shall endorse the insurance policy after receiving the written notice of the beneficiary change.
legal ground
People's Republic of China (PRC) insurance law
Article 2 The term "insurance" as mentioned in this Law refers to the commercial insurance behavior in which the applicant pays the insurance premium to the insurer in accordance with the contract, and the insurer is liable for the property losses caused by the possible accidents agreed in the contract, or when the insured dies, is disabled or sick, or reaches the age and time limit agreed in the contract. Article 10 An insurance contract is an agreement between the applicant and the insurer to stipulate the insurance rights and obligations.
The applicant refers to the person who has entered into an insurance contract with the insurer and has the obligation to pay the insurance premium according to the contract.
An insurer refers to an insurance company that has entered into an insurance contract with the applicant and is liable for compensation or payment of insurance benefits according to the contract. Article 12 When concluding an insurance contract, the applicant of life insurance shall have insurable interests for the insured.
The insured of property insurance shall have an insurable interest in the subject matter insured at the time of the insured accident.
Personal insurance is an insurance with human life and body as the subject matter.
Property insurance is insurance with property and its related interests as the subject matter.
The insured refers to the person whose property or person is protected by the insurance contract and enjoys the right to claim insurance money. The applicant can be the insured.
Insurable interest refers to the legally recognized interest of the insured or the insured in the subject matter of insurance.