Abstract
The gloss presents the issue of invalidity of a unit-linked life insurance contract. A characteristic feature of such a contract is the combination of insurance and investment elements in one agreement. Since some contracts have a predominant investment character, their basic function is, in principle, to invest money in a way specified in the agreement – in the form of a clearly distinct unit-linked fund, which is an immanent element of the contract. As far as unit-linked life insurance contracts are concerned, it should be generally assumed that the legislator has left a lot of leeway to form the contents of the agreement, especially with regard to the determination of the amount of benefits, establishment and liquidation of unit-linked funds, terms of premium allocation as well as transfer of the accumulated means between specific unit-linked funds.
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