Research On Legal Issues In The Implementation Of The Life Insurance Policy Pledge System

In recent years,insurance has gradually changed from a single function with simple risk sharing and damage filling to a multi-functional product including investment savings,with the enhancement of national risk awareness and the extensive development of insurance business,the market demand for insurance products will increase significantly,and the market penetration of multi-functional insurance products will trigger financiers to gradually pay attention to and use policy pledge,based on this background,the policy pledge loan business has developed rapidly.As a new financing method,policy pledge has the advantages of low risk and flexibility,and is favored by the market by expanding the financing channels of policyholders while increasing the business points of insurance companies.However,as a new type of security for rights,insurance policy pledge faces the limitation of lack of legal rules,and the lack of legislation may restrict the development of the market,so it needs to be further studied.The overall background of life insurance policy pledge is in the category of pledge,and it is necessary to clarify its basic connotation and legislative background in order to study policy pledge,so this article first defines the concept of policy pledge and sorts out the current legislative status.Secondly,from the perspective of practical issues,the divergent views of policy pledge disputes are summarized from judicial cases,and it is found that the issues in the implementation of the policy pledge system include: the requirements for the establishment of the pledge of the insurance policy,including the right to claim whether the pledge object is the insurance policy,cash value or cash value,whether the pledge includes the insured and the beneficiary in addition to the policyholder,and the method of pledge publicity;different views on the way in which the pledge of the policy is implemented;There is a conflict between the pledge interest and the insurance interest,etc.Then,from the aspects of institutional structure and institutional nature,the reasons why the insurance policy pledge exists above are analyzed,and the institutional structure is based on the premise of the insurance legal relationship of the policy pledge,the structure of the borrowing legal relationship and the pledge legal relationship as the guarantee and the overlap of the three legal relationship subjects,etc.,and the institutional nature is because the policy pledge is an ordinary debt pledge rather than other rights pledge or mortgage,which causes difficulties in the complexity and implementation of the policy pledge.Finally,focusing on the nature of the pledge of the insurance policy as an ordinary debt pledge,it is clarified that the subject of the policy pledge is the right to claim cash value,and the pledge is only the policyholder with the right to claim cash value,and the pledge can only meet the requirements for publicity of property rights after registration.It is clarified that the special realization methods of the pledge of the insurance policy include that the pledgee can subrogate to exercise the policyholder’s right to claim cash value and the pledgee’s right to receive;It is clarified that when the cash value of the insurance policy belongs to a subject other than the policyholder,the pledgee may be compensated in priority for the compensated goods based on the subrogation of the property rights,and the pledgee’s pledge interests will take precedence over the beneficiary’s beneficiary’s beneficiary rights due to the creditor’s right of avoidance system.