... categorized based on the major nature. Explanatory Note: (a) Representation of Information (e.g. presentation of product features, policy terms and conditions, premium paying terms or returns on investment, dividend or bonus shown on benefit illustrations, etc.) (b) Claims (e.g. dispute on the result of...

... investments and financing of sustainable infrastructure and green development by working with a cluster of key stakeholders. The functions of IFFO are: • providing a platform for information exchange and experience sharing; • building capacity and knowledge; • promoting market and product development; and...

... January 2022. On 30 November 2021, the agent received the client’s cheque as payment for annual premium in respect of two in-force insurance policies. The agent submitted the cheque to the insurer, but in the accompanying receipt inaccurately recorded the amount of premium payable for each...

... Policyholder B Policyholder C Policyholder D 9 Non-financial Transactions Policy level – Policyholder level 10 10 Non-financial Transactions Frequent change of beneficiary 11 Frequent change of address 11 Financial Transactions 12 12 Money In – Money Out Financial Transactions 13 13 Inflow – premium / loan...

... Policyholder B Policyholder C Policyholder D 9 Non-financial Transactions Policy level – Policyholder level 10 10 Non-financial Transactions Frequent change of beneficiary 11 Frequent change of address 11 Financial Transactions 12 12 Money In – Money Out Financial Transactions 13 13 Inflow – premium / loan...

... Policyholder B Policyholder C Policyholder D 9 Non-financial Transactions Policy level – Policyholder level 10 10 Non-financial Transactions Frequent change of beneficiary 11 Frequent change of address 11 Financial Transactions 12 12 Money In – Money Out Financial Transactions 13 13 Inflow – premium / loan...

... annuities can be categorized by the length of their premium payment period and annuity period. In general, the amount of each payout is fixed. For the same insured sum, if the annuity period is longer, the amount of each payout will be smaller. However, some policies may offer a step-up provision, whereby...

... the fund management charges levied by the fund houses are not included in the illustration. Hence, the gross return required is higher (see example for the standard wording). A warning statement is required alerting the proposer that early surrender or early premium discontinuance may result in...

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... Information (e.g. complaints relating to the presentation of product features, policy terms and conditions, premium payment terms or returns on investment, dividend or bonus shown on benefit illustrations, etc.) (b) Claims (e.g. disputes on the result of claims assessment or settlement amount, etc.) (c...