If the life insured person dies due to a third party, does the insurance company have to pay the insurance money?

If a life insured person dies due to a third party, does the insurance company have to pay the insurance?

If the insurance company does not have to compensate or pay the insurance money, it is stipulated in Article 40 of the Law on Insurance Business. 2022 as follows:

Cases where compensation or insurance is not required

1. Insurance enterprises and branches of foreign non-life insurance enterprises are not required to compensate or pay insurance in the following cases:

a) The insured person dies by suicide within 02 years from the date of payment of the first insurance premium or from the date the insurance contract is reinstated;

b) The insured person dies due to the intentional fault of the insurance buyer or the intentional fault of the policyholder beneficiary, except for the case specified in Clause 2 of this Article;

c) The insured person suffers permanent disability due to the intentional fault of the insured himself or the insurance buyer or the beneficiary, except for the case specified in Clause 2 of this Article;

d) The insured person dies due to execution of the death penalty;

dd) Other cases according to agreement in the insurance contract.

2. In case there are many beneficiaries, if one or several beneficiaries intentionally cause death or permanent disability to the insured, the insurance enterprise or branch of a foreign non-life insurance enterprise must still compensate and pay insurance money to the other beneficiaries as agreed in the insurance contract.

3. In the case specified in Clause 1 of this Article, the insurance enterprise or branch of a foreign non-life insurance enterprise must pay the insurance buyer the refund value of the insurance contract or the entire amount of premium paid after deducting reasonable expenses (if any) as agreed in the insurance contract, except for the case specified in Clause 2 of this Article. If the policyholder dies, the refund amount will be settled according to the law on inheritance.

According to the above regulations, if the life insured person dies due to a third party (not due to the intentional fault of the insurance buyer or the intentional fault of the beneficiary), the insurance company must still pay the insurance money to the beneficiary according to the agreement and legal regulations.

Can a life insurance enterprise request a third party that caused the death of an insured person to reimburse the insurance money it has paid?

Can a life insurance enterprise request a third party that caused the death of an insured person to reimburse the insurance money it has paid, according to the provisions of Article 38 of the Law on Insurance Business 2022 as stipulated in Article 38 of the Law on Insurance Business 2022. The following:

Do not request compensation from a third party

In case the insured person dies, suffers injury or illness caused by the direct or indirect acts of a third party, the insurance enterprise or branch of a foreign non-life insurance enterprise is still obliged to compensate and pay insurance money as agreed in the insurance contract without the right to request the third party to reimburse the amount paid by the insurance enterprise, Branch of foreign non-life insurance enterprise has paid to the beneficiary. The third party is still responsible for compensating the insured according to the provisions of law.

Accordingly, in case the life insured person dies due to the direct or indirect acts of a third person, the insurance enterprise is still obliged to compensate and pay insurance money as agreed in the insurance contract.

At the same time, the insurance company does not have the right to request a third person to reimburse the amount the insurance company has paid to the beneficiary.

Who should not enter into a life insurance contract in case of death?

Regulations on entering into life insurance contracts in Clause 2, Article 39 of the Law on Insurance Business 2022 are as follows:

Concluding a life insurance contract, a health insurance contract in case of another person’s death

1. When the insurance buyer enters into a life insurance contract or health insurance contract in case of the death of another person, that person must agree in writing, clearly stating the insurance amount and beneficiary.

2. It is forbidden to enter into life insurance contracts or health insurance contracts in case of death of the following people:

a) Minors, unless that person’s father, mother or guardian agrees in writing;

b) People who have lost civil act capacity;

c) People with difficulty in cognition and behavior control;

d) People with limited civil act capacity the.

Thus, life insurance contracts cannot be entered into in case of death of the following people:

– Minors, unless their father, mother or guardian consents in writing.

– People who have lost civil act capacity.

– People with difficulty in cognition and behavior control.

– People with limited civil act capacity.