The obligation to pay the insurance premium is the most important commitments thrown out by the insurance contract rests with the insured. A premium is the counter party to assume the insured financial liability insured risk it (broadcast safety) and to meet the amount of insurance when you bring.
However, if the obligation of each party - In the contract - is the reason for the commitment of the other .A premium is replaced commitment to the insured and the reason insured obligation to bear the consequences of the insured risk it.
However, it should be noted that the term premium will launch a scarab (amount of money) paid by the insured to Insured, whether or joint stock company was Insurance Association interactively . And other provisions which we have applied on the insurance of any kind, including life insurance, which allows the law to the insured decomposition of its commitment to pay the premium [Article (759) civilian ([1])] .This allowed due to the nature of savings for this type of insurance and the desire to encourage people to enter into contracts of life insurance.
([1]) Article (759) Civil law that "may all who believe in him and committed to pay periodic premiums, that decomposes at any time of the contract by written notification sent to the insurer before the end of the current period, and in this case is discharged from the subsequent installments."
Article (946) of all who believe in him and committed to pay periodic premiums to terminate the contract at any time, provided notice to the insured in writing his desire and discharged from the subsequent installments."
التسميات
insurance premium