Legal Analysis and Business Prospect of Investment-Linked Insurance Product
Date Issued
2013
Date
2013
Author(s)
Tung, I-Chuan
Abstract
Investment-linked insurance is one of the mainstream products currently on the insurance market. It is combined interdependently by insurance contract and securities investment trust contract. Targets of securities investment trust contract are decided by the proposer or the insurer on behalf of the proposer. Though the essence of investment-linked insurance is considered as life insurance by scholars and court, it is mostly utilized to evade income tax and estate tax and totally without the function of spreading or diversion of risk. Thus it is occasionally thought as securities investment contract instead of life insurance contract.
Investment-linked insurance can be divided into tax-planning type and cost-saving type. The lure of tax-planning type for the proposer and the beneficiary is that tax-planning type could be used to evade income tax and estate tax. The lure of evading tax actually could be evaluated as fictitious expressions in collusion of civil law without any intent to sign an insurance contract. The proposer and the beneficiary may possibly face the risk of duty to repay and penalty. Cost-saving type could save the fee or cost of financial business transactions of the proposer and the insurer. But the proposer will be responsible for the risk of investing. The insurer may have problems of tie-in sale, concerted action and interested parties transaction.
The standard provisions of investment-linked insurance are better being considered as adminstrative guidance. It will become articles for standard contracts when it is actually and generally adopted by contracts of same type. Investment-linked insurance should be designed toward cost-saving type. The insurer should develop the business of discretionary investment and securities investment trust fund, and help grow affiliated securities investment trust enterprise and consulting enterprise, or cooperate with other securities investment enterprises in strategic alliance. The insurer also must implement the procedures of policy underwriting. Then the investment-linked insurance could really fulfill its capabilities of protection and investment.
Subjects
投資型保險
契約性質
類型定性
租稅規劃
費用節約
示範條款
行政指導
Type
thesis
File(s)![Thumbnail Image]()
Loading...
Name
ntu-102-P00341018-1.pdf
Size
23.54 KB
Format
Adobe PDF
Checksum
(MD5):dd361c110e781fb6658140e949b4da1d