What is a legal beneficiary? What does legal beneficiary mean

Legal beneficiary:

A legal beneficiary is "if the insured person does not designate a beneficiary, his legal heirs shall be the beneficiary". When inheriting the insurance money, the legal heirs shall inherit in the order of the first, second, and third heirs.

It should be noted here that many friends only fill in the "statutory" in the beneficiary column when applying for a life insurance contract, which may easily lead to subsequent disputes and disputes.

At the same time, the senior sister would like to remind all friends: in order to avoid unnecessary disputes due to the beneficiary, when the insurance contract is concluded, we can clarify the beneficiary, which can effectively reduce the disputes about insurance claims in the future. Here's how we can do it:

1. When being the policyholder and the insured, the right to designate the beneficiary should be fully exercised, and the beneficiary's order and share of the beneficiary should be clarified;

2. Be clear and specific when designating beneficiaries. In addition to filling in the name, you can also write the beneficiary's ID number to avoid vague content such as "legal", "spouse", "son", etc.

3. The beneficiary can be changed. The insured or the policyholder may change the beneficiary and notify the insurance company in writing, and the insurance company will make an endorsement on the policy. However, it should be noted that the consent of the insured person must be obtained when the policyholder changes the beneficiary.

So, what do we do if a dispute does arise during the claims process? The senior sister also sorted out some correct operation procedures for claims, you can take a look: the correct operation process in case of claims disputes.

In addition to disputes due to the "legal beneficiary", there are also many reasons for insurance claim disputes, such as exemption clauses, which is a more common one. If you don't know much about this aspect, you can click the link below, more details here:

link]{What are the exclusions of insurance and how do you look at them?} If you don't understand, you're going to suffer a big loss!

The legal beneficiary refers to the beneficiary who is agreed to be the "legal" or "legal heir", and the legal heir as provided for in the Inheritance Law is the beneficiary.

When the legal beneficiary receives the insurance money, the legal heirs shall be in the order of the first-order heirs and the second-order heirs.

According to the relevant provisions, if the beneficiary is agreed to be a "statutory" or "legal heir", the legal heir as provided for in the Inheritance Law shall be the beneficiary.

If the beneficiary is agreed to be the "legal heir", it shall be deemed that there is a designated beneficiary. This is because, according to Article 2 of the Inheritance Law, "Inheritance begins at the time of the death of the decedent", and the identity of the heir is determined at the time of the death of the decedent. At the time of the death of the decedent, according to the provisions of the Inheritance Law, the identity of the legal heir is easy to determine, not unascertainable.

In the case where the beneficiaries are agreed to be the "legal heirs" in the insurance contract, the legal heirs shall be determined in accordance with the relevant provisions of the Inheritance Law, and these legal heirs shall be the beneficiaries.

Sycamore Tree Insurance Network helps you answer your questions

An insurance beneficiary is a person who receives the benefits of an insurance contract in life insurance. The beneficiary is named by the insured and is enshrined in the insurance contract. When purchasing life insurance, if there is no designated death beneficiary, the death beneficiary of the insurance will be the legal beneficiary by default.

After the death of the insured, the legal beneficiary has the right to claim the insurance benefits.

If the insured does not specify a beneficiary in the insurance contract, the insurance benefit will be paid by the legal heirs of the insured in the event of the death of the insured.

Legal beneficiary means:"If the insured person does not designate a beneficiary, his legal heirs will be the beneficiary"。In the case of inheritance of insurance benefits, the legal heirs shall inherit in the order of the first-in-order heirs and the second-order heirs. First order heirs:

Spouse, parents (including adoptive parents), children (including illegitimate children, adopted children) inheritance; Second order of heirs: grandparents, maternal grandparents, siblings.

If there is a first-order heir, the first-order heir shall inherit it, and the second-order heir shall not inherit. If there is no first-order heir, the second-order heir shall inherit.

At this time, the insurance money has been transferred to part of the insured's estate, and according to Article 33 of the Inheritance Law, the inheritance shall pay off the taxes and debts that the decedent shall pay according to law, and the payment of taxes and debts shall be limited to the actual value of his estate. The part exceeding the actual value of the estate shall not be subject to voluntary repayment by the heirs.

If the legal beneficiary receives the insurance money (which has been converted into an inheritance), he or she needs to repay the debts of the insured during his lifetime and pay personal income tax and inheritance tax according to the amount inherited.

In Judicial Interpretation III of the Insurance Law, it is stipulated that "if the beneficiary is intended to be a "statutory" or "legal heir", the legal heir stipulated in the Inheritance Law shall be the beneficiary". That is, if the beneficiary is statutory, the legal heir of the insured is designated as the beneficiary, and the provisions of the inheritance law on the legal heir are as follows:

The estate is inherited in the following order: first order: spouse, children, parents.

Second order: siblings, grandparents, maternal grandparents. If there is a first-order heir, the first-order heir is the corresponding beneficiary, and the second-order beneficiary is not eligible.

The distribution of heirs in the first order is divided equally.

Legal Analysis: The legal beneficiary refers to the legal heir when the insured does not designate a beneficiary. The person who has the right to inherit is observed:

Husband and wife (i.e. spouse), children, parents imitation fiber. If there is no spouse, children or parents, the deceased's grandparents, maternal grandparents, siblings also have the right to inheritance. The estate of the deceased should first be inherited by the spouse, parents (including adoptive parents), children (including illegitimate children, adopted children).

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) 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, illegitimate children, adopted children, and stepchildren who have a relationship of dependency.

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.

Legal beneficiary means that the legal heir of the insured is the beneficiary.

The legal beneficiary refers to the beneficiary who is agreed to be the legal or legal heir, and the legal heir receives the insurance money in the order of the first and second heirs. Where the beneficiary is agreed to be the legally-designated heir, it shall be deemed to be the designated beneficiary.

The insurance beneficiary is the legal beneficiary, that is, the legal heir of the insured is the beneficiary. In China's inheritance law, the first legal heir is the spouse, children and parents, and the second heir is the siblings, grandparents and grandparents.

If there is a primary heir, the first heir shall receive the insurance money; If there is no primary heir or the first heir dies, the second heir shall receive the insurance money. The identity of the legal heirs is easy to determine, not impossible to determine. If it is stipulated in the insurance contract that the beneficiary is the legal heir, the heirs shall be determined in accordance with the relevant provisions of the Inheritance Law, and these legal heirs shall be the beneficiaries.

It is important to note that the role of inheritance law here is to determine the list of beneficiaries, not to inherit the estate. The legal heir acquires the status of the beneficiary under the insurance contract in the capacity of the legal heir.

Usually, when the insured or policyholder does not clearly specify who is the beneficiary of the insurance, the legal heirs of the insured are the beneficiary of the insurance by default. However, it is best to designate a beneficiary, as this avoids unnecessary family disputes; Moreover, there are fewer supporting materials that need to be provided than the legal beneficiary, and the claim will be faster.