An insurance contract is entered into between an insurance company or insurer and a consumer or insured for the protection of life or property against potential monetary risks. On the other hand, life insurance can be freely awarded because the insured person remains the same. Indeed, many people who have acquired an incurable disease have sold their life insurance to third parties to get money to treat their illness or care. All contracts must have a legal purpose to be enforceable by the courts, and this is of course what most insurance contracts do. In insurance, the offer is usually initiated by the insurance applicant through the services of an insurance agent who must have the authority to represent the insurance company by completing an insurance application. Sometimes the insurance application can be filed directly with the insurance company via its website. How the offer is accepted depends on whether it is life, in-kind, civil liability or life insurance. When it comes to property and liability insurance, the offer is the demand for insurance and the payment of the first premium, or the promise to do so. In most personal insurance cords, the agent can accept the offer for the business and bind the business to the contract. A file is a fixed-term contract that can be oral or written and that immediately binds the insurance company to the contract until it has the opportunity to review the application and issue a formal policy.
Thanks to the file, the insurance takes effect immediately. Most records are written and contain general information such as the nature and amount of insurance, the names of the parties, and the time the file is effective. However, as soon as a formal directive has been issued, the conditions of the directive would replace it. This applies in particular to oral records, as soon as a written directive has been issued, the probation rule establishes the written directive in the event of a conflict between the oral agreement and the written agreement. If a mistake has been made in the directive, for example. B the incorrect entry of the incorrect value of the policy, the treaty can be reformed by correcting the error in order to avoid unjustified enrichment of one of the parties. An insurance contract is an agreement to provide insurance. It can be defined as a legal document outlining the responsibilities of both the insurance company and the insured. It also sets the insurance conditions of the policy. The contract defines the risks that can be covered for a limited period.
While the insurance applicant is generally considered to be the one making the offer, the insurance company dictates the terms of the contract. The insurance applicant must accept the contract of adhesion, or not at all. Due to different definitions and legal decisions made available by different courts in the past and the requirements imposed by the governments of the Länder and their authorities, an insurance contract must be drafted carefully in order to be legally valid and to provide coverage as provided. . . .