Article 638-3 of the Commercial Act: Obligation to Deliver and Explain Terms and Conditions of Insurance Contract

-
Article 638-3(Obligation to Deliver and Explain Terms and Conditions of Insurance Contract)

(1) When an insurer enters into an insurance contract, it shall deliver the terms and conditions of the insurance contract to a policyholder, and explain important contents of terms and conditions.

(2) If the insurer violates paragraph (1), the policyholder may cancel the contract within three months from the date the insurance contract is formed.


THE High-quality & good contents



[Original]

제638조의3(보험약관의 교부ㆍ설명 의무)

① 보험자는 보험계약을 체결할 때에 보험계약자에게 보험약관을 교부하고 그 약관의 중요한 내용을 설명하여야 한다.

② 보험자가 제1항을 위반한 경우 보험계약자는 보험계약이 성립한 날부터 3개월 이내에 그 계약을 취소할 수 있다.


THE 수준 높고 좋은 글



 

Comments

Post a Comment

Popular posts from this blog

Article 649 of Commercial Act: Voluntary Termination of Contracts Prior to Occurrence of Perils Insured against

-
Image
Article 649 (Voluntary Termination of Contracts Prior to Occurrence of Perils Insured against)  (1)  A policyholder may terminate a contract in whole or in part at any time before a peril insured against occurs: Provided, That in cases of an insurance contract prescribed in Article 639, the policyholder shall not terminate the contract without obtaining the consent of the third party or carrying the insurance policy with him/her. (2)  In cases of an insurance policy under which the insured amount is not reduced notwithstanding that the insurer has covered the peril insured against, the policyholder may terminate the insurance contract even after the occurrence of the peril insured against. (3)  In cases falling under paragraph (1), unless otherwise agreed by the parties, the policyholder may demand the return of any unearned premium. THE High-quality & Good Contents
Read more

Article 650 of Commercial Act: Effects of Payment and Delay in Payment of Premiums

-
Image
Article 650 (Effects of Payment and Delay in Payment of Premiums)   (1)  A policyholder shall pay the whole premium or its first installment without delay after the conclusion of a contract, and if the policyholder fails to pay it, the contract shall be deemed to have been rescinded when two months have lapsed after the contract is made, unless otherwise agreed. (2)  If premium installments are not paid at an agreed time, the insurer may require the policyholder to pay them within a reasonable period specified, and if he/she fails to do so, the insurer may rescind the contract. (3)  In cases of a policy effected on behalf of a specified third party, if the policyholder delays the payment of the premiums, the insurer shall not rescind or terminate the contract without requiring the third party to pay it within a reasonable time specified. THE High-quality & Good Contents
Read more