Can life insurance be overinsured duplicate insurance

No. Excess insurance means that the sum insured is determined to be greater than the insured value at the time of application. First, due to the good faith or bad faith of the policyholder, the insured amount is greater than the insured value; Second, after the conclusion of the insurance contract, due to the market value of the insured property, the insured amount is greater than the insured value when the insured event occurs.

Generally speaking, if the policyholder is in bad faith and attempts to obtain an improper benefit, the contract is invalid; If it is bona fide, only the excess part is invalid, and in the event of property damage, the insurer does not compensate for the excess part and does not refund the overcharged premium. In the case of excess insurance due to the market value of the insured property**, the compensation amount shall also be calculated according to the actual value at the time of the insured event, and the excess amount insured shall be invalid and the premium shall not be refunded. Duplicate insurance is when a policyholder insures a family property with more than one insurance company.

In accordance with the principle of good faith, the policyholder shall notify the insurers of the names and insured amounts of all insurers so that they can understand each other. When an insured event occurs, the total amount of compensation received by the insured person shall not exceed the total value of the property damage. In order to prevent the insured from making additional profits due to loss compensation, each insurer generally adopts the method of apportionment and bears a part of the compensation amount separately.

Out of malice and knowing. If the total amount of insurance is greater than the actual value of the property, the insurance contract shall be invalid. It can be seen that duplicate insurance is also not advisable, with one exception, and that is:

When the employer gives group family property insurance as a benefit to employees, because group insurance can not always coincide with the specific needs of a single family, it is necessary for employees to purchase a family property insurance that complements the group insurance liability for safety, and the two complement each other, and the sum insured does not exceed the actual property, so that duplicate insurance is beneficial.

Since the insured amount of life insurance is based on the agreement of the parties and is clearly stipulated in the insurance contract, not based on measuring the value of the person himself, there is no excess insurance and duplicate insurance in life insurance. The insured may participate in the same or several types of life insurance successively or at the same time, and all of them can be paid together according to the agreement. For example, Li Jia participated in simple personal insurance, took out travel insurance when he went out to travel, and took the train on the way, and became the insured of the statutory railway passenger accident insurance.

Assuming that Li Jia dies in an accident while riding the train, his beneficiary can receive the death insurance benefits of railway passenger accident insurance, travel insurance death insurance and simple life insurance at the same time.

1. Excess insurance.

Excess insurance refers to insurance where the sum insured is greater than the insured value. Excess insurance arises, or the insured amount exceeds the insured value due to the fact that the parties have taken out insurance in good faith or bad faith, or the value of the insured object falls after the conclusion of the contract. With regard to the legal consequences of excess insurance, paragraph 3 of Article 55 of the Insurance Law provides:

The sum insured must not exceed the insured value. If the insured value is exceeded, the excess part shall be invalid, and the insurer shall refund the corresponding insurance premium.

Second, the heavy troublesome macro recovery insurance.

Dobleinsrance refers to the insurance in which the policyholder enters into an insurance contract with two or more insurers for the same insurance subject, the same insurance interest, and the same insurance event (in fact, it is already duplicate insurance as above), and/or the sum of the insured amount exceeds the insured value (the definition of duplicate insurance is different in the insurance laws of various countries, in fact, this sentence only defines whether duplicate insurance is excess insurance, Based on this, duplicate insurance can be divided into excess reinsurance and non-excess reinsurance. The definition of duplicate insurance, the constituent elements and the selection of the distribution method of duplicate insurers' liabilities are of great significance to protect the interests of the insured and realize the fairness of liability among insurers.

3. Basic concepts of excess insurance.

In the event that the insured overestimates the value of the property in good faith and thus overinsures the insurance, the insured amount and premium may be reduced in proportion to the actual value of the insured object and the contract may be changed. When the insured deliberately overstates the value of the property for overinsurance due to malicious fraud in order to obtain more compensation after the occurrence of the insured event, the insurer has the right to terminate the contract and has the right to demand compensation for the losses caused thereby.

Causes of Excess Insurance:

1. When the insurance contract is concluded, the insurance amount determined by the parties to the insurance exceeds the insured value, and this kind of excess insurance is divided into good faith and bad faith, and the former requires the insurer to have a clear understanding of the actual value of the subject matter of the insurance and mistakenly thinks that the insurance is high; The latter is to protect people with ill intentions and attempt to obtain improper benefits.

2. During the existence of the insurance contract, the value of the subject matter of the insurance falls to the point that the insurer exceeds the insured value when the insurer performs the compensation. When there is no loss of the subject matter of the insurance, the insurer shall only compensate according to the actual value of the subject matter of the insurance, except that the policyholder or the insurer has committed fraud and invalidates the insurance contract.

The significance of distinguishing between full insurance and excess insurance is that when applying for insurance, the insured amount shall not exceed the insured value, and the excess part shall be invalid; At the time of the occurrence of an insured event, if the insured amount exceeds the insured value, the insurer will only compensate for the actual loss. Its purpose is to avoid the policyholder or the insured from receiving additional benefits from the insurance compensation, so as to avoid the occurrence of moral hazard.

Excess insurance refers to insurance in which the agreed amount of insurance exceeds the actual value of the subject matter of insurance.

Legal Analysis: Not applicable, duplicate insurance refers to insurance in which the policyholder enters into an insurance contract with two or more insurers for the same insurance subject, the same insurance interest and the same insured event, and the sum of the insured amount exceeds the insured value. Therefore, duplicate insurance is theoretically exclusive to property insurance and does not apply to life insurance.

In practice, without considering moral hazard and adverse selection, the industry acquiesces to the legality and reasonableness of repeated personal accident insurance. Personal accident insurance is characterized by many products, low premiums, short insurance period, high insurance amount, flexible coverage and strong protection function. There are still shortcomings in the personal accident insurance market, such as weak foundation, insufficient standardization of sales behavior, and insufficient function and role.

Repeated personal accident insurance may also increase moral hazard.

Legal basis: Social Insurance Law of the People's Republic of China Article 64 Social insurance** includes basic endowment insurance**, basic medical insurance**, work-related injury insurance**, unemployment insurance** and maternity insurance**. In addition to the basic medical insurance** and maternity insurance and surplus insurance** combined accounts and accounting, other social insurance** are separately established and accounted for separately according to the type of social insurance insurance.

The social insurance base is based on a unified national accounting system. The special funds for social insurance are used exclusively and shall not be embezzled or misappropriated by any organization or individual. The basic endowment insurance will gradually implement the national overall planning, and the other social insurance will gradually implement the provincial overall planning, and the specific time and steps will be specified by the first level.

Hello! Generally speaking, if it is accident insurance, subsidized medical insurance and other types of insurance, it can be re-insured, but if it is property insurance, children's life insurance, etc., it cannot be re-insured. Specifically, accident insurance, as a part of life insurance, can be stacked when making claims for the death of the insured.

In other words, if the policyholder purchases an accident insurance product from different insurance companies, in the event of death, the beneficiary can file a claim with multiple insurance companies at the same time. The overlapping claims of accident insurance are also limited to death, disability, etc. Accidental death or disability benefits can be paid without affecting each other, while products similar to accidental medical coverage can only be supplemented when making a claim, and cannot be paid repeatedly.

Commercial medical insurance is divided into two types: expense reimbursement type and subsidy type. The expense reimbursement type follows the principle of reimbursement by insurance. In other words, when the insured person has already been reimbursed elsewhere for medical expenses, he or she can no longer receive excess compensation from the insurance company.

The subsidy type does not have to follow the principle of compensation, as long as it is operated on or hospitalized, if you are insured by more than one company, you can receive benefits from multiple companies. In other words, for some types of insurance, even if you apply for more than one policy, you can only get one compensation for the maximum amount of compensation. Therefore, if you take out more than one insurance for the same type of insurance, you will not be able to get more than one compensation.

In addition, property insurance, life insurance, children's life insurance, etc. are all insurance products that cannot be paid repeatedly, which means that even if you apply for multiple claims through different insurance companies, you cannot get multiple compensation. Therefore, users also need to pay attention when applying for insurance to avoid duplicate insurance.

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

Hello, what you said should be repeated insurance should be based on people as the subject of insurance. Life insurance can be re-insured for pure sails.

The principle of compensation is as follows:

1. Medical claims: The total amount of claims of each insurance company shall not exceed the actual expenses. This means that if we spend 10,000 yuan on medical expenses, we will find various insurance companies to settle the claim, and the final compensation will not exceed 10,000 yuan.

Therefore, it is not recommended to re-insure in the area of medical insurance, as long as you buy enough insurance in an insurance company.

2. Death compensation: Because people are priceless and cannot be measured by money, the death benefit is based on the actual purchase of the insured amount as hail. For example, if we buy a total of 1 million insurance coverage in various insurance public rental and sales divisions, then we can get a claim of 1 million.

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

Duplicate insurance refers to the act of insuring the same subject matter with different insurers multiple times, and the insured amount exceeds the insured value.

Since human life cannot be measured by value, there is no duplicate insurance in life insurance, and duplicate insurance only exists in property insurance.

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