{"release":{"id":"c89ff15ec1240a456b40735def079beeda55a0c372be7f3da154287997367ecf","published":"2026-11-02T04:02:35Z","pinned":false},"limits":{"coverage":{"history":"full","held_since":"2024-06-19","gaps":[],"covered":["AMLR L1"],"not_covered":["national guidance","court decisions"]},"freshness":{"release_id":"c89ff15ec1240a456b40735def079beeda55a0c372be7f3da154287997367ecf","release_published":"2026-11-02T04:02:35Z","checked_at":"2026-10-26","checked_against":"EUR-Lex"},"truncation":null,"failures":[],"incomplete":[]},"page":{"path":"/amlr/articles/47","url":"https://www.headlesslaw.com/amlr/articles/47","title":"Article 47 — Specifications for the life and other investment-related insurance sector","family":"l1_generated","work_id":"amlr","status":"not_yet_applicable","force_status":"in_force","date_state":"not_yet_applicable","requested_date":null,"as_of":"2026-11-02","applies_from":"2027-07-10","application":{"state":"not_yet_applicable","next":"2027-07-10","dates":[{"at":"2027-07-10","note":"Article 90"}]},"version_label":"Regulation (EU) 2024/1624, OJ L, 2024/1624, 19.6.2024","check":{"against":"EUR-Lex","on":"2026-10-26"},"check_result":"matched","official_url":"https://eur-lex.europa.eu/eli/reg/2024/1624/oj/eng","valid_from":"2024-06-19","valid_until":"2027-07-10","revision":1,"content_id":"7ac7a79a25ff1cf3","change_date":null,"nearest_versions":["2024-06-19"],"first_text_date":"2024-05-31","correction_applies":false,"versions":["2024-06-19"],"version_url":"https://www.headlesslaw.com/amlr/articles/47/versions/2024-06-19","revision_url":"https://www.headlesslaw.com/amlr/articles/47/versions/2024-06-19/rev/7ac7a79a25ff1cf3","versions_url":"https://www.headlesslaw.com/amlr/articles/47/versions","relations_url":"https://www.headlesslaw.com/amlr/articles/47/relations","source_line":null,"attribution":null},"provenance":{"official_url":"https://eur-lex.europa.eu/eli/reg/2024/1624/oj/eng","check":{"result":"matched","checked_at":"2026-10-26","against":"EUR-Lex"},"repo_path":"spaces/amlr/articles/47.md","body_sha256":"3087154b8f7eee6a47c9e4f6624b2968410631bcb0c7bb524bd9d19614e051e9"},"units":[{"locator":"amlr/art/47","kind":"article","status":"in_force","label":null,"heading":"Specifications for the life and other investment-related insurance sector","text":"","marks":[],"revision":1,"text_hash":"e3b0c44298fc1c149afbf4c8996fb92427ae41e4649b934ca495991b7852b855","reason":null},{"locator":"amlr/art/47/para/1","kind":"paragraph","status":"in_force","label":"1.","heading":null,"text":"For life or other investment-related insurance business, in addition to the customer due diligence measures required for the customer and the beneficial owner, obliged entities shall apply the following customer due diligence measures on the beneficiaries of life insurance and other investment-related insurance policies, as soon as the beneficiaries are identified or designated:","marks":[],"revision":1,"text_hash":"f253b42d15a8b33cd91e164025e1f2ab7bc5179d4f1610cbbec840fc29223827","reason":null},{"locator":"amlr/art/47/para/1/pt/a","kind":"point","status":"in_force","label":"(a)","heading":null,"text":"in the case of beneficiaries that are identified as specifically named persons or legal arrangements, recording the name of the person or arrangement;","marks":[],"revision":1,"text_hash":"6129ff609e169af221aaae003d843ca3db6a8d9c07b90c0969c015a3d26684bc","reason":null},{"locator":"amlr/art/47/para/1/pt/b","kind":"point","status":"in_force","label":"(b)","heading":null,"text":"in the case of beneficiaries that are designated by characteristics or by class or by other means, obtaining sufficient information concerning those beneficiaries so that it will be able to establish the identity of the beneficiary at the time of the payout.","marks":[],"revision":1,"text_hash":"db292801b08d9d755ca123c885a8a238563017295925a10d1a3a0f1666565e88","reason":null},{"locator":"amlr/art/47/para/1/cont/tail1","kind":"continuation","status":"in_force","label":null,"heading":null,"text":"For the purposes of the first subparagraph, the verification of the identity of the beneficiaries and, where relevant, their beneficial owners shall take place at the time of the payout. In the case of assignment, in whole or in part, of the life or other investment-related insurance to a third party, obliged entities aware of the assignment shall identify the beneficial owner at the time of the assignment to the natural or legal person or legal arrangement receiving for its own benefit the value of the policy assigned.","marks":[],"revision":1,"text_hash":"e4b62e94e7a88a0473c093934cb9bbbb4219236cd6054f5a03bf1b6f00b5bbe4","reason":null}],"markdown":"---\ntitle: \"Article 47 — Specifications for the life and other investment-related insurance sector\"\ntype: regulation\nlegal_status: in_force\nsource: \"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32024R1624\"\nsource_retrieved: 2026-09-29\nshortTitle: \"Article 47 — Specifications for the life and other investment-related insurance sector\"\ninstrument_type: level1_regulation\nauthority: Commission\nbinding: true\nbinding_character: binding\nmica_level2: false\nlegal_basis: \"Regulation (EU) 2024/1624\"\ninstrument: amlr\ncelex: \"32024R1624\"\nregulation: AMLR\nregulation-full: \"Regulation (EU) 2024/1624\"\narticle: 47\nstatus: in_force\nobject_id: eu.amlr.legal_text.article.47\ntext_version: \"Regulation (EU) 2024/1624, OJ L, 2024/1624, 19.6.2024\"\nsource_url: \"https://eur-lex.europa.eu/eli/reg/2024/1624/oj/eng\"\ncheck_status: matched\nverified: true\nlast_checked: 2026-10-26\n---\n\n*In force · Regulation (EU) 2024/1624, OJ L, 2024/1624, 19.6.2024 · Checked against EUR-Lex on 26 Oct 2026 · [Official source](https://eur-lex.europa.eu/eli/reg/2024/1624/oj/eng)*\n\nFor life or other investment-related insurance business, in addition to the customer due diligence measures required for the customer and the beneficial owner, obliged entities shall apply the following customer due diligence measures on the beneficiaries of life insurance and other investment-related insurance policies, as soon as the beneficiaries are identified or designated:\n\n<a id=\"p-a\"></a>**(a)** in the case of beneficiaries that are identified as specifically named persons or legal arrangements, recording the name of the person or arrangement;\n\n<a id=\"p-b\"></a>**(b)** in the case of beneficiaries that are designated by characteristics or by class or by other means, obtaining sufficient information concerning those beneficiaries so that it will be able to establish the identity of the beneficiary at the time of the payout.\n\nFor the purposes of the first subparagraph, the verification of the identity of the beneficiaries and, where relevant, their beneficial owners shall take place at the time of the payout. In the case of assignment, in whole or in part, of the life or other investment-related insurance to a third party, obliged entities aware of the assignment shall identify the beneficial owner at the time of the assignment to the natural or legal person or legal arrangement receiving for its own benefit the value of the policy assigned.\n\n***\n\n[Chapter III — Customer due diligence](../chapters/iii.md) · [← Article 46](46.md) · [Article 48 →](48.md)\n"}