Insurance policy

The insurance certificate (also Police) is a document about a existence -down insurance contract. He represents the agreement between the insurer and the policyholder.

In the legal sense of the insurance policy is tantamount to the contractual document. It contains all contractual agreements, the terms and conditions, including all individual information on the different risk and the contract involved. In exceptional cases, securitizes individual agreements.

Contract

In technical parlance, as the insurance policy - even as an insurance policy ( in Switzerland sole expression) or insurance policy ( in Austria in use ) called - only provided with a facsimile signature of the insurer usually Datasheet understood at the outset of the contract document. In the background are the individual data of the contract, such as the internal contractual characteristics of the insurer (eg, social security number, product name and version of the insurance conditions ) which specifically insured risk, the contracting parties and the other on the parties to the agreement, the sums insured, insurance start and duration of and the contributions are listed. The remaining parts of the insurance policy are usually referred to as systems for the insurance policy.

In addition, subscription rights, pledges or assignments may be registered in favor of third parties, such as credit institutions in their favor in the event of damage, the sum insured should be paid on the insurance policy.

Performance basis

The insurance certificate is considered proof existing insurance coverage. The policyholder pursuant to § 3 para 1 VVG be entitled to obtain an insurance certificate, which must contain the essential elements of the insurance contract. With the insurer contractually granted permission to be able to afford to each holder of the insurance policy with the effect, but without being obliged to pay this over, the insurance policy to a qualified legitimation paper within the meaning of § 808 BGB. The provision of § 4 para 1 VVG also prevents the formation of the insurance policy to a pure bearer paper because it explains § 808 BGB is applicable. In addition, the insurance company is entitled to see the certificate holder regarding other disposition of rights under the insurance contract to be justified.

The legitimation effect of § 808 paragraph 1 sentence 1 BGB extends to the contractually promised benefits. Contractually promised performance is in a life insurance not only the performance of the sum insured in the insurance case. Promised by contract is the performance of the surrender value after termination of the contract ( § 176 VVG); because the right to the cash surrender value is just another manifestation of the right to the sum insured. Accordingly, extending the legitimation effect of the insurance policy as instrument within the meaning of § 808 BGB to the right of termination in order to obtain the cash surrender value. Insurance can be the owner of the insurance policy therefore already under § 808 BGB View as entitled to terminate the contract if that party asks for the payment of the surrender value.

The mere delivery of the policy is to transfer the rights arising from the life insurance is neither necessary nor sufficient, since the policy is only Rektapapier. As with the savings account instead a transfer of the rights under the policy by way of an assignment agreement and the subsequent transfer of the policy to the new creditor is necessary. In life insurance, the notice of the assignment to the insurer to be legally binding is also required in the event of their assignment; the results from the absolute force -assignment clause of § 13 para 3 General life insurance conditions. Because of the legal form of the insurance policy as a qualified legitimation paper, the insurance company may reimburse only on presentation of the policy despite a legally effective transfer.