Empty hope: Beneficiary status through subscription rights in life insurance

The subscription right regulates who is entitled to the agreed benefit in the event of an insured event. Insured persons can determine their individual subscription rights in order to avoid disputes later on. Why can someone else become a beneficiary in case of doubt despite the subscription right?   Can subscription rights be revoked? The […]

When revocation and/or amendment of a subscription right can fail

The Federal Court of Justice (BGH, ruling of 25.09.2019, ref. IV ZR 99/18) had to deal with the life insurance of a policyholder (VN) who had fallen into a coma in 1993 after an accident. The wife, who was divorced in 1994, was entitled to withdraw her claim. The father of the UN informed the […]

Subscription right in direct insurance

On the liability of insurance companies, agents and insurance brokers for incorrect design on the part of the legislator Insurance brokers have always had a particularly heavy responsibility towards their customers. In the German Insurance Contract Act (VVG), the legislator has expressly defined the liability of the insurance intermediary in §§ 59 ff. VVG.   […]

The elimination of the irrevocable subscription right by revoking the life insurance policy

– How heirs or insolvency administrators can subsequently collect the contract value –   If a life insurance contract falls within the estate, it is first and foremost a matter of all rights of structuring; such as termination, revocation of a subscription right, contesting the insurance contract, as well as revocation of the conclusion of […]

What is the subscription right worth in life insurance?

The elimination of the irrevocable subscription right by revoking the life insurance policy – How heirs or insolvency administrators can subsequently collect the contract value –   If a life insurance contract falls within the estate, it is first and foremost a matter of all rights of structuring; such as termination, revocation of a subscription […]

The elimination of irrevocable subscription rights by revoking the LV

If a life insurance contract falls within the estate, it is first and foremost a matter of all rights of structuring; such as termination, revocation of a subscription right, contesting the insurance contract, as well as revocation of the conclusion of the contract itself. The legal claim for payment of the contractual sum insured is […]

Subscription right LV: How the contract value can be collected retroactively

How can the irrevocable subscription right be eliminated by revoking the life insurance? What options are available to heirs or insolvency administrators to collect the contract value retroactively.   If a life insurance contract falls within the estate, all rights of structuring apply first of all; such as termination, revocation of a subscription right, contesting […]

Irrevocable subscription right for life insurance

In insurance contract law – especially in life insurance – the subscription right refers to the beneficiary. Beneficiaries and policyholders are sometimes identical. When the contract is concluded or at a later date, the policyholder shall record the beneficiary in the insurance contract. Tip: The beneficiary should be clearly identified. Example: “My spouse” is not […]

Subscription right mostly unsecured

Direct insurance and term life insurance are not protected against insolvency: When insolvency administrators collect the insurance benefit   When insolvency administrators collect insurance benefits for a supplementary distribution In the case of insolvency, a distinction is made between the actual insolvency proceedings and the subsequent good conduct phase lasting several years. Insurance benefits from […]

Design pitfalls in the case of subscription rights in direct insurance

Liability of insurance companies, agents and insurance brokers for faulty design   Insurance brokers have always had a particularly heavy responsibility towards their customers. In the German Insurance Contract Act (VVG), the legislator has expressly defined the liability of the insurance intermediary in §§ 59 ff. VVG.   Obligation to pay contributions to statutory health […]