Article 1889. General

(1) In case of life insurance, the obligation of the insurer or the payment of premium depends upon an insured event that is defined exclusively by reference to the death or survival of the person at risk.
(2) “Person at risk” means the person on whose life, health, integrity or civil status insurance is taken.
(3) In life insurance, the same person may concurrently act as policy holder, person at risk and/or beneficiary.
(4) An insurance contract on the life of a person other than the policyholder shall be void, unless the informed consent of the person at risk is obtained in writing regarding:
a) the entry into the insurance in his or her respect; and
b) the identity of the beneficiary if it is designated in the contract.
(5) Any substantial later change to the contract, including a change of the beneficiary, an increase in the sum insured and a change in the duration of the contract shall be without effect without the consent specified in para. (4). The same applies to an assignment of or encumbrance on the insurance contract or the right to the insurance money.