Research On The Problems And Solutions Of Insurable Interest In Life Insurance In Life Specific Apply

Principle of insurable interest originates in marine insurance in England, first designed to deter certain "insurance" which is actually a form of gamble and prevent moral danger. Distinguishing insurance from gamble, preventing moral danger, limiting amount of compensation and defining the subject matter of insurance, The principle of insurable interest posts an important principle of insurance law. It also maintains the order of insurance industry and facilitates the development of insurance market. Principle of insurable interest is connected to the validity of insurance contracts and the collecting of insurance money, therefore it is significantly related to the insurance parties. The academic world has reached an agreement on the application of insurable interest in property insurance and has acknowledged this application. However, the application of insurable interest in life insurance is quite controversial between the two main law systems. From the angle of preventing gambling, forestalling moral danger and maintaining social order, Anglo-American Law System recognizes the application of insurable interest in life insurance. It believes the basic function of insurable interest is able to work well in life insurance. Civil Law System denies the application of insurable interest in personal insurance. It contends, instead of principle of insurable interest, Consent of insured rule should be applied in life insurance which may protect the life and personal safety of the insured and respect the independent character of the insured simultaneously.Notwithstanding Anglo-American Law System and Civil Law System have different requirements to insurable interest in life insurance, the former adopting the legislation mode of insurable interest while the latter the legislation mode of consent of insured, they are all aimed to prevent insurance from turning into the tool of gamble and forestall moral danger. Insurable interest of life in England shall only be money. In America, in addition to money, insurable interest of life can also be found in the relationships arising from blood, marriage or love. Germany is a typical promoter of Consent of Insured Rule. In Germany, the insured’s consent is needed to enter into a life insurance contract for others, otherwise the contract shall be null and void. Under the influence of German law, Japanese law also adopt consent of insured rule in life insurance contracts, which are similar in contents, only difference in form.Insurance Law in China insists on the application of insurable interest in life insurance. The law also sets forth the scope of insurable interest of life. Our country insists on the application of insurable interest in life insurance and stipulates that the consent of the insured is deemed to prove the applicant has insurable interest in the insured. Some scholars believe our country has adopted the mode of "reconciling both insurable interest and consent", and some contend that the mode we has adopted is "reconciling both insurable interest and consent" on the surface but "Consent of Insured Rule" in essence. Although compared to the old insurance law, the 2009 Insurance Law, which has distinguishes the insurable interest in property insurance from that in life insurance and adds the stipulation "the applicant has insurable interest in employer who has employment relationship with the applicant", has been improved. Due to the aforesaid problems, it requires further improvement of insurance legislation to maintain the development of insurance industry. We should redefine insurable interest as "the beneficiary or the insured has legally legitimate interest in the subject matter of the insurance’"; the stipulation that the applicant is the main body of insurable interest in life insurance is no more in conformity with insurance practice, therefore we should treat the beneficiary as the main body of insurable interest in life insurance, and the beneficiary should be subject to insurable interest; we should distinguish life insurance which has a nature of payment from compensative life insurance, and the duration of the two types of life insurance should be stipulated separately. For the former type of life insurance, the beneficiary shall have insurable interest when the insurance contract is entered into. For the latter type, the beneficiary shall have insurable interest when the insurance contract is entered into and when the insurance accident occurs. We should also ameliorate the consent of the insured, and make it more rigorous.