Article 1890. Beneficiary of the Insurance Money
(1) The policyholder may designate one or more beneficiaries of the insurance money and may change or revoke such designation, unless the designation has been declared irrevocable. The designation, change or revocation, unless made in a will, shall be made in writing and be sent to the insurer.
(2) The right to designate, change or revoke the designation shall end on the death of the policyholder or the occurrence of the insured event, whichever occurs first.
(3) The policyholder or the heirs of the policyholder, as the case may be, shall be regarded as beneficiaries of the insurance money in one of the following cases:
a) the policyholder has not designated a beneficiary;
b) the designation of a beneficiary has been revoked and no other beneficiaries have been designated;
c) a beneficiary has died before the insured event occurs and no other beneficiaries have been designated.
(4) If two or more beneficiaries have been designated and the designation of any of them is revoked or any of them dies before the insured event occurs, the amount of the insurance money that would have been due to the beneficiary or beneficiaries in question shall be distributed among the remaining beneficiaries proportionately, unless otherwise specified by the policyholder in accordance with para. (1).
(5) Subject to any rules on the nullity, voidability or unenforceability of legal acts detrimental to creditors laid down in applicable rules of insolvency law, the insolvent estate of the policyholder shall have no rights concerning the insurance money, the conversion value or the surrender value as long as the money has not been paid to the policyholder.
(6) An insurer paying the insurance money to a person designated in accordance with para. (1) shall be discharged from its obligation to pay, unless it knew that the person in question was not entitled to the insurance money.