Insurance beneficiary statutory means, what does insurance beneficiary statutory mean

The legal beneficiary refers to the beneficiary who is agreed to be the "statutory" or "legal heir", and the legal heir as provided for in the Inheritance Law is the beneficiary; When receiving insurance benefits, the legal heirs shall be in the order of the first in order of heirs and the second in order. If the beneficiary is agreed to be the "legal heir", it shall be deemed that there is a designated beneficiary.

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Legal analysis: If parents purchase insurance for their children under the age of 18, then the father or mother is the policyholder, the children are the insured, and the legal primary beneficiary is the parents, followed by the grandparents; If the parents purchase insurance for their children over the age of 18, then the father or mother is the policyholder and the children are the insured, then the legal primary beneficiary is the insured's wife (or husband) followed by their children and the policyholder's parents; If an adult buys insurance for himself, then he is both the policyholder and the insured, and the first beneficiary is his wife or husband, followed by his children and parents; If the enterprise purchases insurance for the employee, then the enterprise is the policyholder, the employee is the insured, and the beneficiary is the employee's wife or husband, children, and parents. If the creditor purchases insurance for the debtor, then the creditor is the policyholder, the debtor is the insured, and the beneficiary is the creditor and not the relatives of the insured.

A person who does not have an insurance interest cannot become an insured, which means that he or she cannot buy insurance for his or her non-relatives except in two cases.

Legal basis: Article 1127 of the Civil Code of the People's Republic of China The inheritance of the estate shall be in the following order: (1) The first order:

spouse, children, parents; (2) Second order: siblings, grandparents, maternal grandparents. After the inheritance begins, it is inherited by the first-order heirs, and the second-order heirs do not inherit; If there is no first-order heir, the second-order heir shall inherit.

For the purposes of this Part, the term "children" includes legitimate children, children born out of wedlock, adopted children and dependent stepchildren. For the purposes of this Part, the term "parents" includes biological parents, adoptive parents and step-parents in a dependent relationship. The term "siblings" as used in this Part includes siblings of the same parents, half-siblings or half-siblings, adoptive siblings, and step-siblings who have a dependent relationship.

Hello! The beneficiary of life insurance is designated by the insured or the policyholder. The policyholder's designation of a beneficiary is subject to the consent of the insured.

The beneficiary refers to the person designated by the insured or the policyholder in the life insurance contract who has the right to claim the insurance money. When signing the policy, the policyholder should clearly state the beneficiary, and if the beneficiary is not specified, the insurance company will consider the beneficiary to be "statutory".

Typically, "designated" is preferred over "statutory" of insurance beneficiaries. If the beneficiary is designated, once the insured dies, the designated beneficiary can directly receive insurance compensation from the insurance company. At the same time, the claims received by the designated insurance beneficiary are not subject to debt redemption and no inheritance tax is levied.

If you fill in "statutory", the insurance money will be distributed as an inheritance in the order of inheritance, and once the inheritance tax is levied in China, the legal heirs may have to pay inheritance tax ranging from 5% to 20%. In addition, if the insured has certain debts during his lifetime, the death benefit of life insurance will first be used to repay the debts he has incurred, and the remaining amount can be inherited by his legal heirs.

Among the legal beneficiaries of the insurance, the parents, spouse and children of the insured are the deceased beneficiaries in the first order; The second in line of priority are the insured's siblings, grandparents, and maternal grandparents.

Extended reading: [Insurance] How to buy, which one is better, teach you to avoid these insurance"pits"

Insurance Beneficiary:

Also known as "insurance Jinlinghong recipient", it refers to the person designated by the insured or the policyholder to enjoy the right to claim insurance money in accordance with the insurance contract when the insured accident occurs or the agreed insurance period expires.

Conditions for the beneficiary of the insurance:

1. The beneficiary enjoys the benefits of the insurance contract and receives the insurance money, but is not a party to the insurance contract and does not have the obligation to pay the insurance premium.

2. The beneficiary is the person designated by the policyholder or the insured in the insurance contract.

After the insurance contract comes into effect, the policyholder or the insured can revoke or change the beneficiary in the middle of the process without the consent of the insurer, but must notify the insurer and the insurance will approve it on the insurance policy before it can take effect.

If the policyholder and the insured are not the same person, the policyholder needs to obtain the consent of the insured when changing or revoking the beneficiary.

If the policyholder or the insured does not specify the beneficiary in the insurance contract, the legal heirs of the insured shall be the beneficiary.

Extended reading: [Insurance] How to buy, which one is better, teach you to avoid these insurance"pits"

Insurance beneficiary statutory means that the beneficiary of life insurance is designated by the insured or the policyholder. The policyholder's designation of a beneficiary is subject to the consent of the insured.

The insured shall not designate a person other than the insured and his/her close relatives as the beneficiary when taking out life insurance for the employee who has an employment relationship with the insured. If the insured is a person with no capacity for civil conduct or a person with limited capacity for civil conduct through the sale of fiber dismantling, his guardian may designate a beneficiary. If the insured person does not designate a beneficiary, his legal heirs will be the beneficiary.

Legal basis. Article 39 of the Insurance Law of the People's Republic of China The beneficiary of life insurance shall be designated by the insured or the policyholder. The policyholder's designation of a beneficiary is subject to the consent of the insured.

The insured shall purchase life insurance for the worker with whom the employee has an employment relationship, and shall not designate any person other than the insured or his close relatives as the beneficiary. If the insured is a person with no capacity for civil conduct or a person with imitation ability in a restricted civil act, his guardian may designate a beneficiary.

The legal beneficiary of Baozao Nabi Insurance refers to the following groups: in accordance with the relevant provisions of the Insurance Law: only fill in the beneficiary column of the life insurance contract"Statutory"If the beneficiary is not specified, the insurance money will be inherited by the legal heirs as the insured's estate.

According to the Inheritance Law, the inheritance is in the following order: the first order is the spouse, children, and parents; The second order is siblings, grandparents, and maternal grandparents.

After the succession begins, it is inherited by the first-order heirs, and the second-order heirs cannot inherit; If there is no first-order heir, the second-order heir shall inherit the inheritance. The inheritance share is an equal implicit distribution.

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