A measure of the Sapin 2 law provides for insurers to better inform the holders of pension insurance contracts. Insurers
will be required to inform their clients annually about the
"possibility of liquidating the benefits under the contract" on the
maturity date or when the latter has exceeded the statutory retirement
age.
In
the field of pension insurance, many insurance companies or mutual
insurance companies offer life insurance policies whose purpose is to
constitute a "retirement capital" upon the cessation of activity of the
beneficiary. The
duration of this type of life insurance contract is necessarily long
and very often insured persons have not necessarily thought of
liquidating their contract once they have reached the legal age of
retirement.Law No. 2016-1691 of 9 December 2016 on transparency, anti-corruption and modernization of economic life, known as the Sapin 2 Law, continues the efforts of the Eckert Law to make research more effective Beneficiaries of inactive bank accounts or dormant insurance contracts.
Article 115 of that law provides that "insurance undertakings offering life insurance contracts whose benefits are linked to the cessation of their working activities shall inform annually the insured persons who have passed the date of payment of their pension ... ] The possibility of liquidating the benefits under the contract ". This law thus creates two new articles: Article L.132-9-5 of the Insurance Code and Article L223-10-4 of the Code of Mutuality.
source: life insurance
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