On the deadline to refuse the contract of life insurance Cover Image
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За срока на отказ от договора за животозастраховане
On the deadline to refuse the contract of life insurance

Author(s): Polya Goleva
Subject(s): Law, Constitution, Jurisprudence, Civil Law, Law on Economics
Published by: Институт за държавата и правото - Българска академия на науките
Keywords: insurance contract; life insurance; term

Summary/Abstract: In the article for the first time the problem about the legal regulation on the right of the insured to refuse the contract for life insurance, which has been regulated in the Code of Insurance, in force from 2016, is an object of discussion. Our parliament has accepted the requirements containing in the Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) (Text with EEA relevance), that gives the insured person the right to refuse the contract of life insurance in a period of 30 days, which begins on the day followed the day of conclusion the contract. But in accordance with the Bulgarian law the beginning of this deadline doesn’t depend of the fulfillment of the duty of the insurer to inform the insured about this right opposite to the rules of the Directive. This is the reason why the article analyses the Bulgarian law in the light of the law of the European Union and the cases of the Court of the European Union.

  • Issue Year: LIX/2018
  • Issue No: 2
  • Page Range: 13-26
  • Page Count: 14
  • Language: Bulgarian