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Abstract

The insurable interest in life insurance is a core principle for the parties to enter into an insurance contract. In case the policyholder does not have insurable interest to the insured, the life insurance contract will become invalid or the life insurance contract will terminate when the policyholder no longer has insurable interest in accordance with Vietnam Insurance Business Law. The practice of life insurance contract performance has raised many issues related to the insurable interest that Vietnam Insurance Business Law has not mentioned or are still lacking. Therefore, the legal provisions on insurable interest are covered with many shortcomings, and inconsistent with the practice of insurance business. On the basis of analysis of caselaw and insurance statutes in US jurisdiction, the author proposes to modify the legal provisions on the insurable interest stipulated in the Vietnam Insurance Business Law..



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Article Details

Issue: Vol 2 No 3 (2018)
Page No.: 38-49
Published: Jan 20, 2019
Section: Research article
DOI: https://doi.org/10.32508/stdjelm.v2i3.518

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Copyright: The Authors. This is an open access article distributed under the terms of the Creative Commons Attribution License CC-BY 4.0., which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.

 How to Cite
Nam, B. T. N. (2019). Suggestions to modify Vietnam’s legal provisions on the insurable interest in life insurance. Science & Technology Development Journal - Economics - Law and Management, 2(3), 38-49. https://doi.org/https://doi.org/10.32508/stdjelm.v2i3.518

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