Insurance Law of the People's Republic of China
(Adopted at the 14th Session of the Standing Committee of the Eighth National People's Congress on June 30, 1995, and promulgated by Order No. 51 of the President of the People's Republic of China on June 30, 1995)

Chapter II - Insurance Contract

Section 3 - Life Insurance Contract

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Article 63

150

Under one of the following circumstances, the insurance benefit shall be treated as the legacy of the insured who dies, and the insurer shall execute its liability of payment of the insurance benefit to the heir of the insured:

151

1. without any person appointed as the beneficiary;

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2. The beneficiary dies earlier than the insured, and there is no other beneficiary; and

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3. the beneficiary loses usufruct or waives the usufruct, and there is no other beneficiary.

Insurance Law of the People's Republic of China (Adopted at the 14th Session of the Standing Committee of the Eighth National People's Congress on June 30, 1995, and promulgated by Order No. 51 of the President of the People's Republic of China on June 30, 1995)

Chapter I - General Provisions

Chapter II - Insurance Contract

Section 1 - General Provisions

Section 2 - Property Insurance Contract

Section 3 - Life Insurance Contract

Chapter III - Insurance Company

Chapter IV - Operational Rules Governing Insurance

Chapter V - Supervision and Control over Insurance Business

Chapter VI - Insurance Agent and Insurance Broker

Chapter VII - Legal Responsibility

Insurance Law of the People's Republic of China
(Adopted at the 14th Session of the Standing Committee of the Eighth National People's Congress on June 30, 1995, and promulgated by Order No. 51 of the President of the People's Republic of China on June 30, 1995)