France: corporate life-insurance onboarding

Obtain the company policyholder's registration evidence, business details and ownership structure. A Kbis or relevant RNE record supplies registered company particulars. Request shareholder and control documents for facts absent from the accessible registry records, including indirect corporate owners.

Authority to take out the policy

Verify the representative and their powers under the Code monétaire et financier and ACPR guidance. Obtain the purchase resolution or delegation where the person applying is not authorised by the registered representation arrangements.

Record the insured person, premium payer and beneficiary. For an employer taking cover on a director, identify the director and the company's reason for the policy. For a policy assigned to a lender, obtain the assignment and identify who can exercise surrender or payment rights.

Beneficiaries and later instructions

Collect the beneficiary's name when designated, or sufficient information about a class or description to identify the beneficiary at payment. Apply the insurance-specific verification and PEP requirements before paying benefits.

Review third-party premiums and proposed payments to a new recipient. Obtain the agreement or instruction establishing that person's entitlement and apply enhanced checks where the funding or policy changes create higher risk.

Keep the corporate CDD and policy rights current. Ownership changes, beneficiary amendments and assignments should be reflected in the file before a surrender or claim is approved. Retain the documents supporting the recipient and the authority for the payment.