Insurance life: the subtleties of the profitable clause

In a contract of insurance life, the profitable clause allows to indicate one or several persons who will have to benefit from the capital in the event of death. A modifiable clause any time unless the beneficiary accepted designation! Explanation.

The contract of insurance life is first of all an investment, but he can also become a transmissible heritage in the event of death. In that case, it is necessary that the holder indicates the persons who will be able to accept this money if he disappeared.

This designation can make by the name or the quality of the beneficiary (” my spouse “, “my children “). At any rate, it is necessary to be the most definite possible, to avoid conflicts of interests which will be able to regulate only in the court most often.

However, the vagaries of life can lead the holder of the contract to review its judgment and to lead it to want to change beneficiary. It is completely possible but on the single condition: that the beneficiary does not accept designation.

In fact, the only means to remain free to change this clause, it is to keep secret designation. Indeed, the beneficiary can accept designation (notably in writing to the underwriter) and since then, he becomes the “accepting beneficiary“.

This status confers right on him to be kept informed about any modification of the contract (complete or partial redemption, change of profitable clause) and especially its agreement will have to be asked for most these operations. One might as well say that beneficiary’s change could then prove to be delicate …

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