Let us talk in this article about the duties of the insured person and the insurer under the life insurance contract:

The insurer is obliged:

Acquaint the insurer with conditions and life insurance rules;

Throughout two working days as soon as it becomes known about the approach of insured event to take measures concerning registration of all necessary documents for timely realization of insurance payment or insurance compensation to the insurer;

At insured event approach to carry out insurance payment in provided by the contract of life insurance term. The insurer bears property responsibility for untimely realization of insurance payment (insurance compensation) by payment to the insurer of the penalty the size of which is defined by life insurance treaty provisions;

Refund the expenses suffered by the insurer at approach of insured event concerning prevention or reduction of losses if it is provided by life insurance treaty provisions;

Under the statement of the insured person in case of realization some actions by him which have reduced insurance risk or increase in cost of property to renew with it the life insurance contract;

Keeping a secret data on the insurer and its property condition except for the cases provided by the legislation of each particular country;

The insured person is obliged:

In due time to make the insurance payments;

at the conclusion of the contract of life insurance to give the information to the insurer about all circumstances known to him which have essential value for an estimation of insurance risk and further to inform on any change of insurance risk (a state of health, hobbies, about working conditions and an activity kind);
Inform the insurer on other operating contracts of insurance concerning this object of life insurance;

Take measures concerning prevention and reduction of the losses put as a result of approach of insured event;

Inform the insurer on insured event approach in time, provided by life insurance conditions.

Order and conditions of realization of insurance payments:

Realization of insurance payments is spent by the insurer due to the contract of life insurance or the legislation on the basis of the statement of the insured person (its assignee or the third parties defined by the conditions of insurance) and documents confirming approach of insurance event.

Life insurance: refusal in insurance payments:

The basis for refusal of the insurer in realization of insurance payments under the life insurance contract is:

Deliberate actions of the insured person or the person in interests of which the contract of life insurance directed on approach of insured event is concluded. It does not extend on the actions connected with performance by them of a civil or office debt, in a condition of necessary defense (without excess of its borders) or protection of property, a life, health, honor, advantage and business reputation. Qualification of actions of the insured person or the person in interests of which the life insurance contract is concluded and it is established according to the current legislation of each particular country;

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