Amendments to Guidelines on the Online Distribution of Life Policies with No Advice [ID 01/17]

The Monetary Authority of Singapore (MAS) has issued Circular No. ID 07/24 to update the Guidelines on the Online Distribution of Life Policies with No Advice [ID 01/17]. The revision primarily removes or amends outdated references within the regulatory framework. The amended guidelines are now available on the MAS website for direct life and composite insurers.

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Circular No. ID 07/24
26 March 2024
To Chief Executives
All Direct Life and Composite Insurers
Dear Sir/Madam
AMENDMENTS TO GUIDELINES ON THE ONLINE DISTRIBUTION OF LIFE POLICIES WITH NO ADVICE [ID 01/17] The Guidelines on the Online Distribution of Life Policies with No Advice [ID 01/17] set out the Authority’s expectations on the safeguards that direct life insurers should put in place for the online distribution of life policies without the provision of advice. 2 The Monetary Authority of Singapore (MAS) has revised the guidelines to remove or amend outdated references. 3 The amended Guidelines are available on MAS’ website at this link. 4 If you have further queries, please contact your company’s liaison officer in MAS. Thank you. Yours faithfully [sent via MASNET] DANIEL WANG EXECUTIVE DIRECTOR INSURANCE DEPARTMENT

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This document amends: Guidelines on the Online Distribution of Life Policies with No Advice

Source: Monetary Authority of Singapore — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works