Insurance being an issue that affects the whole community, and that is directly connected with the welfare of this and whose base is essential to confidence and credit. The entities that wish to act as insurers will require a double set of formalities as well as legal and economic entity’s obeying those who want to be to provide insurance.
The policyholder is the person or entity “that engages and supports the policy of insurance, employment or a third party assuming the obligation and right down the LCS” seeks to move a particular risk to a third party (insurance company) to effect that will be compensated to him or a third party for damages or losses that may result from the occurrence of an uncertain event the date of the insurance contract. To this end must pay a fee (premium) to the insurer.
The insured may be defined as the global head of interest concerning insurance coverage and the right to compensation is paid at the time that in certain cases, you may transfer to the beneficiary. Is the natural or legal person to whom the occurrence of the incident will affect you more directly. In short, is he on whose head will either fall the consequences of the accident. The figure of the insured is essential in the insurance contract. Because the same thing that there can be a contract of that nature without the existence of a risk to cover or not it conceivable legal business of the nature mentioned without a person or final recipient of the guarantee is agreed, and whose interests protected in this way, are the efficient cause of the contract.
The beneficiary is the person who will receive the value of insurance when the event to occur in the same (without insurance). It is one upon whom fall the benefits of the policy agreed by the express will of the borrower. The payee responds to a forecasting approach to insurance under personal, special way to the life and accident insurance, in case of death of the insured. Article 84 of the LCS states literally that the policyholder may designate or change the beneficiary designation previously made, without the consent of the insurer. Thus it is clear that the ability to identify and revoke beneficiary is in the hand of the borrower. The insured has no right or provision on the subject, even to approve or reject the payee that the policyholder has chosen.
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Tags: Agents and Marketers, Beneficiary, Business, Contract, Financial Services, insurance, Insurance policy, Life insurance