Article 1824. Insurance of Fixed Sums

(1) Insurance of fixed sums includes life insurance and other insurances.
(2) In case of insurance of fixed sums the insurer is bound to pay a fixed sum of money on the occurrence of an insured event. The sum to be paid by the insurer under this insurance is hereinafter referred to as insurance money.
(3) In insurance of fixed sums, a “beneficiary” means the person in whose favour the insurance money is payable.
(4) In case of multiple insurance, the beneficiary is entitled to full insurance money under each insurance contract.