What is Temporary Insurance?

A temporary insurance policy is also called a "temporary insurance certificate". A temporary document issued by an insurer before an insurance policy or insurance certificate is issued. The content of the temporary insurance policy is relatively simple, only to indicate that the policyholder has completed the insurance formalities and is waiting for the insurer to issue a formal insurance policy.

Temporary insurance policy

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A temporary insurance policy is not a necessary procedure for entering into an insurance contract. Generally, there are three situations when using a temporary insurance policy:

(1) When the insurance agent wins the business, he has to give the insured a certificate before completing the insurance policy formalities with the insurer;

(2) A branch of an insurance company shall issue a certificate of protection before accepting insurance and before obtaining approval from the head office;

(3) When the insurance contract is concluded or renewed, the contracting parties still have some conditions to discuss. Before the insurance contract is completely negotiated, the insurer will issue a certificate of protection to the insured.

A temporary insurance policy has the same legal effect as a formal insurance policy, but the general term of a temporary insurance policy is not long, usually not more than 30 days. When a formal insurance policy is issued, the temporary insurance policy will automatically expire. If the insurer finally fails to consider issuing an insurance policy, the validity of the temporary insurance policy can also be terminated, but the policyholder must be notified in advance.

The common law provisions for "temporary insurance policies" are mainly to solve the problem of "whether insurance contracts have been established". At present, in various types of insurance contract disputes in China, the question of "whether the insurance contract has been established" is a major focus issue. This problem accounts for a considerable proportion of insurance contract disputes. The reasons for such problems are as follows: The reasons for the "whether the insurance contract has been established and the conditions for its establishment" are unknown in the "Insurance Law". It is also because the insurance contract is a very special type of contract, which is different from other common and other types of contracts. It is also because of insurance. The inherent characteristics of the contract itself lead to the special conditions for the establishment and entry into force of insurance contracts, which are very different from other types of contracts.

In addition, in the daily development of insurance business, due to the variety of insurance contracts, life and non-life insurance, long-term and short-term insurance, personal insurance and group insurance, plus conditions such as the need for medical examinations, survival investigations, substandard medical premiums, etc. The conditions for the establishment and entry into force of an insurance contract are complicated in practice. For example, an insurance accident occurs before a formal insurance policy is issued. In this case, should the claim be settled? The courts often have difficulty in handling such disputes.

At present, in practice, insurance companies cover simple personal insurance, and long-term life insurance that does not require conditions such as physical examination, survival investigation, and substandard medical premiums, such as life insurance and life and death insurance. The current industry practice is "Zero Insurance" starts to bear insurance liability at 12 o'clock on the night of the charge day.