投资型保险合同的法律关系构造及解释

The Legal Relation Construction and Interpretation of Investment⁃linked Insurance

投资型保险合同不同于传统保险合同,前者涉及保险与委托双重性质法律关系,后者主要由保险法律关系构成。但是,此种差异并不否定投资型保险的保险属性,其“投资”功能实为保险“保障”功能之增益。投资型保险合同在实践中主要涉及以下问题:各方权利义务关系配置、投资账户法律地位与投资资金运作监管、保险交易稳定性与保单效力维持、保单现金价值与投资账户价值归属等。关于各方权利义务关系配置,投资型保险合同有约定的,按照约定;没有约定的,根据投资型保险合同项下的保险法律关系和委托法律关系,分别适用《保险法》《民法典》合同编关于委托合同的规范。《保险法》未规定投资型保险投资账户资金归属,此类问题可通过理清投资账户法律地位,制定个性化的投资账户开立方案来解决。对于具有“财产隔离”效果的投资账户,该账户资金虽不同于保险公司的自有资金,但保险公司运用投资账户资金的行为仍应遵循保险资金运用的法律规定。《保险法》对投保人解除权的规定突破了合同拘束力理论,应结合诚实信用原则检视投保人行使“任意”解除权的目的与后果,增设被保险人同意作为投保人解除投资型保险合同的限制条件。

Investment⁃linked insurance contracts are different from traditional insurance contracts in that the former involves dual natures of insurance and entrustment legal relationships,while the latter mainly consists of insurance legal relationship.However,this difference does not negate the insurance property of investment⁃linked insurance,and its“investment”function is actually the tone⁃up of the“protection”function of insurance.In practice,investment⁃linked insurance contracts mainly involve the following issues:allocation of rights and obligations of the parties,legal status of the separate investment account and investment account and supervision of investment fund operation,stability of insurance transactions and maintenance of policy validity,attribution of the separate investment account and insurance policy cash value and investment account fund.Regarding the configuration of the rights and obligations of the parties,if there is an agreement in the investment⁃linked insurance contract,the agreement shall be followed;if there is no agreement,the regulation of the insurance legal relationship and the entrustment legal relationship under the investment⁃linked insurance contract shall be applied respectively according to the Insurance Law and the Civil Code division on the entrustment contract.The Insurance Law does not specify which party the investment account fund belongs to.Such problem can be solved by clarifying the legal status of investment accounts and formulating individualized plans for opening investment ac⁃counts.For the investment account with the effect of“property segregation”,although the separate investment account fund is dif⁃ferent from the insurance company′s own funds,the insurance company should use the separate investment account funds in ac⁃cordance with relevant regulations on the use of insurance funds.The Insurance Law′s provision on the policyholder′s“right to cancel the contract”has broken through the contract binding force theory.Therefore it is necessary to properly review the policy⁃holder′s purpose and consequence in executing the“arbitrary”right of cancellation in combination with the principle of integrity,