Life insurance is not frozen, divorce is not divided, and debt is not an accurate statement.
The insurance property itself is not independent, so it cannot directly confront the debt from the legal point of view. However, because insurance is a special contract, taking the insured's body as the subject matter of insurance, the insurance company pays the insurance money to the designated or legal beneficiary under different conditions according to the law and the insurance contract, thus realizing the legal transfer of assets between the "applicant" and the "beneficiary". When the property has the effect of transfer, it can obviously be the debt of the owner of the antigen property, which is the key point of insurance to isolate the debt!
Basic knowledge of realizing relative debt isolation by using policy structure design
Life insurance contract is a complicated legal contract, and its structure is very special compared with other contracts. First of all, the relationship between the parties is very complicated. First of all, let's clarify the main parties in the insurance contract:
Insurer: that is, an insurance company that enters into a contract with the applicant, collects insurance premiums and undertakes the responsibility of compensation or payment of insurance benefits, also known as "insurer".
Policy-holder: that is, the other party of the insurer in the process of signing the insurance contract, and also the obligor to pay the insurance premium and the holder of the insurance contract. Have the right to unconditionally terminate the insurance contract, obtain the cash value of the policy, change the insurance beneficiary, change the policy and receive dividends. The applicant can be a natural person or a legal person.
Insured: The subject matter of an insurance contract is its health or life span.
Beneficiary of death: the person who is entitled to death insurance after the death of the insured. It can usually be designated as a specific person or identity relationship.
Living beneficiary: an individual who is entitled to receive insurance benefits such as annuities and policy dividends when the insured is alive. It can be the insured or the insured.
All five people in the insurance policy have their own rights and interests. The transfer of wealth among these five people can be realized through insurance contracts, and their debts may be completely independent.
For example, the debt between parents and children is completely independent in law, and the debt between brothers and sisters is also completely independent. The wealth between all parties can be planned according to the structure of contractual legal relationship, so as to realize the relative isolation of debts!
Share several common debt isolation policy structures, focusing on the design of policy holders and beneficiaries.
First, the design of insurance.
Use the person with low possibility of debt as the insured to realize the debt isolation of the policy.
Give a chestnut:
Mr. Qian, aged 38, is the actual controller of this enterprise. If you are a business, you will know that it is the same in Chinese mainland. It is difficult to distinguish personal wealth from corporate assets. Enterprises need loans. Although the enterprise is a limited liability company, the bank will let the enterprise controller and his family as joint guarantors when lending, which is Qian Furen here. This leads to a great risk: if the business fails, it will directly threaten the safety of Qian Zong's family property.
General Qian's parents, Grandpa Qian and Grandma Qian are all alive, 60 years old, working-class, and less likely to be in debt.
The first son Qian is 13 years old.
At present, Qian Zong's enterprise net assets are about 1 100 million yuan, and his family net assets exceed 50 million yuan.
Because the current economic situation is not good, money is always worried about the future. In order to ensure that the future life of his son and his wife will not be affected, Mr. Qian decided to buy an insurance with 20 million yuan while it is still good, so as to transfer the accident and disease risks of the whole family, and at the same time ensure a stable and good income and cash flow, and carry out basic wealth preservation.
Such an insurance policy is believed to be universal, and many business owners and high net worth people have such needs. So, how should such an insurance policy be designed?
We can arrange it like this:
High savings dividend insurance+multiple critical illness insurance+high-end medical insurance. Most of the premium is used to buy high-value savings dividend insurance, and then part of its annual dividend income is used for the premium of critical illness insurance and high-end medical insurance.
Here, for the purpose of isolating debts, what matters is the arrangement of the insured.
The first plan that usually comes to mind is to take Mr. or Mrs. Qian as the insured, but as we said just now, this arrangement may be risky. Because the policy of saving dividends generally has a great cash value, and the cash value belongs to the property of the insured. Even for overseas insurance, due to the opening of CRS, personal assets may be discovered in the future. It's always bad to be known. For mainland insurance, it is more vulnerable to the threat of the insured's liability and may be enforced, which is still not isolated.
So in order to reduce the threat of the insured's debt, we might as well make this arrangement:
Give the agreement of 20 million yuan to Grandpa Qian, and take Grandpa Qian as the insured to buy the main insurance. Because grandpa Qian's possibility of debt is zero and the amount of 20 million yuan based on family assets is reasonable, then the debt threat of this main savings dividend policy is already very low.
The gift agreement must stipulate the following points:
65,438+20,000,000 yuan was given to Grandpa Qian at one time, and it was indicated that it was given to the insured separately, and a gift agreement was signed.
2. It is suggested to combine the arrangement with the conditional gift agreement, because the insured can cancel the policy at any time to obtain cash value, and it is necessary to prevent Grandpa Qian from canceling the insurance contract under the condition of being cheated or coerced. It should be noted that:
"The 20 million yuan given to Grandpa Qian must all be used to buy an insurance plan. Without the written permission of Qian Kechang, it is not allowed to surrender, get part of it, make a policy loan, etc. Otherwise, the gift will be invalid from the beginning, and the cash value, part and assets obtained from the policy loan must be returned to Qian Zong. "
3. It is suggested to merge "notarized wills and bequest arrangements". When the insured (grandpa Qian) dies unfortunately, the rights and interests of the insured and the cash value of the policy will be inherited as an inheritance, which will face many problems, especially when money always has brothers and sisters.
Therefore, on the basis of signing a conditional gift agreement, it is better to sign a notarized will: after the death of the insured (Grandpa Qian), it is suggested that 1% of all the rights and interests of the policy be owned by Mr. Qian, and 99% be bequeathed to his grandson, who will hold the policy as the insured. In this way, even if the money always needs to repay the debt, it is only limited to 1% of the policy value. At the same time, it also avoids the risk of money being surrendered as an insured and squandering the value of the policy.
In addition, it should be noted that it is best to choose short-term payment or one-time payment for large-sum savings dividend insurance, which is not suitable for long-term payment. It is also a good choice for some insurance companies to provide premium prepaid services.
Second, beneficiary design.
Using the dividend insurance of savings, the surviving beneficiaries can only receive dividends and realize debt isolation.
Give another chestnut:
55-year-old Qian has always been a successful entrepreneur, very conservative, and the enterprise never runs in debt. The net assets of the family are 50 million, and the net assets of the enterprise are 654.38+0 billion. Mrs. Qian is 50 years old and in good health. The couple have a son, Qian, who is 28 years old and married, and his grandson Qian Beibei, who is 2 years old.
At first glance, this is a happy family, but the problem lies in money. As a rich second generation, money has been extravagant and extravagant since childhood, and it has also caught the bad habit of gambling, and often borrows money in the face of parents. Mr. Qian has been disheartened by this son and looks forward to educating his grandson Qian Beibei and passing on his huge family business to his grandson in the future.
As for his son, Mr. Qian also hopes that he can at least have enough food and clothing for a lifetime. He wants to create a cash flow to accompany his son's life, give him and his daughter-in-law enough living expenses every month, buy enough medical insurance to ensure his son's life and medical care.
In this case, because Qian Zong is most worried that the debt of his son's money may affect his family life, Qian Zong, the insured's money, the surviving beneficiary's money and the deceased beneficiary Qian Beibei buy 12 high-value savings dividend policies to ensure that each policy automatically pays a survival fund every month.
This arrangement has the following functions:
The applicant is Chief Qian, and the insurance policy belongs to the assets of Chief Qian. If money is in debt, based on the principle of debt isolation between parents and children, the policy itself cannot be a liquidation asset, but it can provide a stable cash flow for money.
It can prevent money from squandering the principal of the policy and ensure the cash flow of money for a lifetime. If we consider the death of Mr. Qian and the transfer of the identity of the insured, we can refer to the method given in the last case and improve it, introduce a lawyer as the executor, or set up a trust to take charge of the policy.
At present, Bao Xiao can receive an annuity as living expenses in full every month under the arrangement of the insured's general manager without debt, so as to maintain a better quality of life. Once the money is in debt, you can stipulate that you can only receive basic living expenses every month, and the rest will continue to accumulate with the value of the policy. Using the nature that policy rights cannot be subrogated by creditors can protect policy assets well.
In addition to the insurance structure, there are also policy loan functions of low cash value products and large insurance policies to achieve debt isolation.
Using low cash value products to achieve debt isolation
As a contract, a policy can be used to enforce debt repayment on the basis of its cash value, and the insured has the right to cancel the policy and obtain cash value. But in fact, the actual value of a policy is not equal to its cash value. For example, in the first few years of its establishment, the cash value of some policies may be only one tenth or even zero of the premium paid. These low cash value products can be used as a very effective tool to isolate our debts!
According to Article 17 of Judicial Interpretation of Insurance Law (III):
If the applicant cancels the insurance contract and the parties claim that the cancellation is invalid on the grounds that the insured or beneficiary does not agree, the people's court will not support it, except that the insured or beneficiary has paid the cash value of the insurance policy to the applicant and notified the insurer.
How to understand this judicial interpretation? Let's give an example:
The 45-year-old Qian is always a successful entrepreneur with a family net worth of 20 million and a business net worth of 50 million. Qian Furen is 40 years old. They have a son, Qian, 10 years old.
With the current economic downturn, when enterprises borrow money, Mr. Qian and Mr. Qian Furen are both joint guarantors. Therefore, Qian is always worried that once the debt risk occurs in the future, the whole family's economy will fall into crisis. As a professional insurance practitioner, starting from the concern of Mr. Qian, taking Mr. Qian as the insured and the insured, he bought whole life insurance and consumer term life insurance with high and low cash value, and the beneficiary of his death was Mr. Qian Bao Xiao. You can choose to pay regularly, or you can choose to pay once. If you choose to pay regularly, it is best to open a savings dividend policy account for your child to meet his later premium demand. Before the child is underage, his parents will manage it for him. After the child becomes an adult, he will continue to purchase the savings dividend insurance with the child as the insured, and receive the cash value to pay the premiums for each period.
Take the products of a mainland company as an example. No matter whether the product is good or bad, Qian is 45 years old, with a one-time payment of life insurance of RMB 6,543.8+million, critical illness insurance of RMB 6,543.8+0.5 million and total disability insurance of RMB 6,543.8+million. When he was 70 years old, the premium was only 6.5438+0.45 million, and the cash value was almost zero. At this time, even if you have debts, you can save all the above policy assets by paying almost zero consideration, effectively isolating debts.
Using the policy loan function of large policy to realize debt isolation
Dividend insurance for large lump-sum savings often has two important characteristics: high insured amount and high cash value. We can use this policy to make policy loans to insurance companies, turn assets into liabilities and reduce the net assets of the policy.
At this time, once faced with debt settlement, the value of our policy is very low! Other relevant beneficiaries only need to pay this little price to preserve their assets.
For example:
Mr. Qian paid RMB 3.6 million in one lump sum to insure the savings dividend policy. A few years later, the cash value of the policy is 4 million yuan, and the insurance company's policy stipulates that the policy can lend 80%. Mr. Qian borrowed 4 million yuan * 0.8 = 3.2 million yuan, with an annual interest rate of 5% and an annual interest of 6.5438+0.6 million yuan. At this time, the net asset value of the policy is 4 million -3.20 = 0.8 million yuan. The relevant beneficiaries only need to pay a consideration of 800,000 yuan to preserve the assets currently worth 4 million yuan, which are constantly accumulating.
Pay attention to the misunderstanding of insurance debt isolation function
Because of its special structure and legal characteristics, life insurance can play the role of asset preservation and legal confrontation under certain conditions, thus realizing the relative isolation of debts.
The method of debt isolation in life insurance is based on the fact that the insured, the insured and the beneficiary often belong to different people, and they are not jointly and severally liable for debts, and these rights and interests belong to different people respectively. Specifically, there are mainly the following situations:
1. Cash value and policy bonus are the property rights of the insured, and it is not necessary to offset the debts of the insured and other beneficiaries.
2. Annuity, medical insurance compensation, critical illness insurance compensation, etc. They are the property of the beneficiary of survival, and there is certainly no need to offset the debts of the insured or other beneficiaries of death.
3. Life insurance compensation for death belongs to the property of the beneficiary of death, and it is not necessary to offset the debts of the insured.