Article 11-1. Insurance contract and insurance contract disposal The Law On the State Educational Accumulative System

Home / RLA / Article 11-1. Insurance contract and insurance contract disposal The Law On the State Educational Accumulative System

 1. The insurance contract is concluded in writing between the participating insurance company and the policyholder in favor of the beneficiary, who is a citizen of the Republic of Kazakhstan, in accordance with the requirements of this Law, other regulatory legal acts and on the basis of a standard insurance contract.

2. The insurance contract is concluded for a period of at least three years.

3. The insurance contract must contain the following information:

1) the subject of the insurance contract;

2) information about the policyholder;

3) information about the beneficiary under the insurance contract;

4) indication of the insured event;

5) the amount of the insured sum;

6) the amount of the insurance premium (insurance premiums), the procedure and terms of its (their) payment;

7) payment terms and the amount of the redemption amount;

8) the term of the insurance contract;

9) the duration of insurance coverage;

10) the amount of the state premium established by this Law;

10-1) the amount of the initial educational capital (if any), established by the legislation of the Republic of Kazakhstan, and the conditions for its return;

11) rights and obligations of the parties;

12) written consent of the policyholder, beneficiary (legal representative) to disclose the insurance secret to the operator;

13) responsibility of the parties;

14) the cases and procedure for making changes to the terms of the insurance contract;

15) terms of termination of the insurance contract;

16) other provisions in accordance with the laws of the Republic of Kazakhstan.

4. Insurance contracts are subject to registration in the unified register of educational accumulative insurance contracts to account for insurance contracts for which a state premium is accrued in accordance with Article 14-1 of this Law.

5. The operator registers insurance contracts submitted by the participating insurance company by entering information into the unified register of educational accumulative insurance contracts and assigning a registration number. The insurance contract is not subject to registration if there is an insurance contract registered with the operator, concluded in favor of the beneficiary, or a deposit agreement registered with the operator, under which the depositor and the beneficiary are one and the same person.

6. The insurance amount is determined by the insurance contract by agreement of the parties.

7. The currency of the insurance contract is tenge.

8. The insurance premium under the insurance contract is paid in a lump sum or in installments in the form of insurance premiums in the amount, procedure and terms established by the insurance contract, or through payments of the beneficiary's target savings from the unified accumulative pension fund for the purpose of paying for education in accordance with the laws of the Republic of Kazakhstan.

9. Insured events are:

1) the insured's life before the date specified in the insurance contract;

2) the establishment of the insured disability of the first or second group during the period of insurance coverage;

3) death of the insured, which occurred during the period of insurance coverage, except in cases stipulated by the insurance contract.

10. Upon admission of the beneficiary to the participating educational organization on a contractual basis, the insurance payment is made to the participating educational organization, except in the case of admission of the beneficiary to a foreign educational organization.

11. Upon admission of the beneficiary to a foreign educational organization on a contractual basis, the insurance payment is made by insurance organizations. – participants at the request of the policyholder or beneficiary or his legal representative in the manner and in cases established by the civil legislation of the Republic of Kazakhstan, in shares (for each academic period or academic year) or in full at a time (for the entire period of study), taking into account investment income, accrued state premiums and initial educational capital (if any) upon submission supporting documents on the beneficiary's enrollment in a foreign educational organization.

In order to make insurance payments upon the beneficiary's admission to a foreign educational organization, the participating insurance organization opens a bank account in the "escrow account" mode in the name of the beneficiary with a restriction on the right of this person to perform spending operations on the bank account solely for the purpose of paying for educational services to a foreign educational organization and transfers the amount of the insurance payment to this account.

From the moment when the insurance organization participating in the insurance payment is transferred to a bank account in the "escrow account" mode, the accrual of the state premium ceases.

If the beneficiary is enrolled in a foreign educational organization for a grant, the policyholder or beneficiary or his legal representative, in accordance with the procedure and cases established by the civil legislation of the Republic of Kazakhstan, is entitled to receive an insurance payment under an insurance contract, taking into account investment income, accrued state premiums and initial educational capital (if any), provided that a document on education of the foreign educational organization is submitted., recognized in the Republic of Kazakhstan in accordance with the legislation of the Republic of Kazakhstan, as well as to manage insurance payments under the insurance contract in accordance with subitems 2), 3) and 4) of Part one and subitems 1) and 2) of part two of paragraph 13 of this Article.

12. Upon admission of the beneficiary to the participating educational organization on a contractual basis, the insurance payment is made at the request of the policyholder or beneficiary or his legal representative in accordance with the procedure and cases established by the civil legislation of the Republic of Kazakhstan by transferring money to the participating educational organization in periodic payments (in each academic period or academic year) or in full at a time (for the entire duration of training).

13. In case of awarding an educational grant to a beneficiary who does not have initial educational capital, or if the beneficiary has technical and professional, post–secondary, higher and (or) postgraduate education, confirmed by the relevant educational document, the policyholder, in the event of the death of the policyholder, the beneficiary or his legal representative, in accordance with the procedure and cases established by the civil legislation of the Republic of Kazakhstan, has the right to:

1) receive an insurance payment under an insurance contract, taking into account the investment income and the accrued premium of the state;

2) extend the term of the insurance contract and (or) direct the insurance payment under the insurance contract to pay for educational services in order to obtain other technical and professional, post-secondary, higher and (or) postgraduate education;

3) transfer the insurance payment under the insurance contract, taking into account the investment income and the premium of the state, to pay for the insurance contract or to an educational funded contribution in favor of a third party who is a citizen of the Republic of Kazakhstan.

4) transfer the insurance payment under the insurance contract, taking into account the investment income and the accrued premium of the state, to improve housing conditions in accordance with the legislation of the Republic of Kazakhstan.

In the cases provided for in subitems 1), 3) and 4) of part one of this paragraph, the beneficiary has the right to pay the amount of targeted savings from the unified accumulative pension fund in order to pay for education in accordance with the laws of the Republic of Kazakhstan (if any).:

1) transfer to your bank account opened in second-tier banks from the National Postal Operator that open and maintain bank accounts for crediting payments of target savings from the unified accumulative pension fund in order to improve housing conditions and (or) pay for education, for further transfer in US dollars at the exchange rate at the time of transfer to the depositor's target savings account opened in the unified accumulative pension fund in accordance with the Law of the Republic of Kazakhstan "On the Rights of the Child in the Republic of Kazakhstan";

2) transfer in national currency to your bank account opened in second-tier banks with the National Postal Operator that open and maintain bank accounts for crediting payments of target savings from the unified accumulative pension fund in order to improve housing conditions and (or) pay for education, in accordance with the Law of the Republic of Kazakhstan "On the Rights of the Child in the Republic of Kazakhstan".

13-1. A beneficiary with initial educational capital, in case of awarding him an educational grant or having technical and vocational, post-secondary, higher and (or) postgraduate education, confirmed by the relevant educational document, the policyholder, in case of the death of the policyholder – the beneficiary or his legal representative, in accordance with the procedure and cases established by the civil legislation of the Republic of Kazakhstan, has the right to receive insurance payments under an insurance contract, taking into account investment income, accrued state premiums and initial educational capital, provided that a document of education is submitted, as well as to dispose of insurance payments under the insurance contract in accordance with subparagraphs 2), 3) and 4) parts one and subitems 1) and 2) of part two of paragraph 13 of this Article.

14. If the amount of the insurance payment exceeds the amount of the payment for educational services for the entire period of study after the expiration of the insurance contract, the insurance payment in the amount of the excess amount is payable to the policyholder, beneficiary or his legal representative in accordance with the procedure and cases established by the civil legislation of the Republic of Kazakhstan.

15. In the event of the beneficiary's death, recognition by the court as legally incompetent, missing, or declared dead, or the beneficiary's inability to continue his studies due to his state of health, the policyholder, in the event of the insured's death, his heirs, shall have the right:

1) replace the beneficiary specified in the insurance contract with another person who is a citizen of the Republic of Kazakhstan;

2) receive the purchase amount under the insurance contract, taking into account the investment income, accrued government premiums and initial educational capital (if any).

16. Within the framework of the State Educational Accumulative System, the policyholder has the right to transfer the redemption amount, taking into account investment income, accrued state premiums and initial educational capital (if any) under an insurance contract from one participating insurance company to another participating insurance company or from a participating insurance company to a participating bank, but not earlier than two years from the date of the transfer. dates of conclusion of the insurance contract.

17. The calculation and procedure for insurance payments are determined by a regulatory legal act of the authorized body for regulation, control and supervision of the financial market and financial organizations.

The Law of the Republic of Kazakhstan dated January 14, 2013 No. 67-V.

This Law regulates public relations in the sphere of functioning of the State Educational Accumulative System, as well as the conditions, forms and content of its state stimulation.

President

Republic of Kazakhstan

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