Regulatory Alerts2011-09-23
Added · Updated
MAS Notice 307 on Investment-Linked Policies
This Notice establishes mandatory requirements and non-mandatory standards for the disclosure, investment guidelines, borrowing limits, and operational practices of investment-linked policies issued by direct insurers licensed for life business. Insurers must notify the Authority of sub-fund launches at least 21 days in advance and report significant changes one month prior to implementation, including fee increases of 0.1% or more of net asset value. The document mandates annual audits of sub-funds, requires the consolidation of upfront deductions into a single premium charge for policies issued on or after 8 October 2021, and specifies detailed timelines for providing statements, reports, and audit certificates to policyholders and the Authority.
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