Article 818. Insurance premiums of the Civil Code of the Republic of Kazakhstan
1. Insurance premium is the amount of money that the policyholder is obliged to pay to the insurer for the latter's acceptance of obligations to make insurance payments to the policyholder (beneficiary) in the amount determined by the insurance contract.
Insurance premiums received by the insurer from the policyholder belong to him by right of ownership, with the exception of part of the insurance premiums received from policyholders for investment purposes and income (expenses) received (incurred) from their investment under insurance contracts providing for the condition of the policyholder's participation in investments, as well as the case provided for in paragraph 3 of Article 845-1 of this Code. The Code.
2. The amount of insurance premiums is determined by the contract. In case of compulsory insurance, the amount of insurance premiums is established by a separate legislative act of the Republic of Kazakhstan regulating the compulsory type of insurance.
The procedure and terms of payment of insurance premiums are determined by the contract. In case of compulsory insurance, they may be determined by legislative acts of the Republic of Kazakhstan.
3. When determining the amount of insurance premiums payable under an insurance contract, the Parties may apply insurance tariffs developed by the insurer, which determine the rate of the insurance premium charged per unit of the insured amount, taking into account the object of insurance and the nature of the insured risk.
4. The contract may provide for the payment of an insurance premium in installments in the form of periodic insurance premiums.
5. If the insurance contract provides for the payment of an insurance premium in installments, the contract may determine the consequences of non-payment of regular insurance premiums on time, including early termination of the contract.
6. If the insured event occurred before the payment of a certain insurance premium, the payment of which is overdue, the insurer has the right to set off the amount of the overdue insurance premium when determining the amount of the insurance payment.
President
Republic of Kazakhstan
© 2012. RSE na PHB "Institute of Legislation and Legal Information of the Republic of Kazakhstan" of the Ministry of Justice of the Republic of Kazakhstan
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