General Rules provide that, if you do not abide plus for standing or hanging on the suspensive condition, the debtor must meet as soon as it arises and only the creditor the right to require the right Reform him .Accordingly, the premium will be the duty of performance once the insurance - as a general rule - unless the parties agree otherwise.
The installment by the agreed term in the insurance contract, it may be met every month or quarterly or half-yearly or annually or more . And must not be confused with the order to meet with justice, and the duration of the insurance as follows:
First - In order to fulfill: limit the time the insured must implement its commitment to pay the value of nodal premium to the insured.
Second - Effective period: specifies the period of insurance coverage that insurance contract expires When completed.
And work is underway - In the insurance market - The requirement fulfillment Insured installment in advance at the beginning of the insurance period for the believer ([1]), so that the final recognition of the seriousness of the insured and adjust its accounts and prepare to cover the insured risk it - total premiums - when achieved .
([1]) Article (1073) of the preliminary draft of the Civil Code provides that "
1) installment contrast to the first period of the insurance periods in time that enters into a contract unless otherwise agreed upon. Shortly intended term insurance, which serve as the basis for a premium account per case of doubt is the insurance period of one year.
2) may not be a believer who handed the policyholder before the payment of the first installment to stick as provided for in this document to defer the contract until after the payment of this installment.
3) and deserves each of the following premiums at a time when the insurance period begins new unless otherwise agreed upon."
التسميات
insurance premium