Regulatory Alerts2023-11-27
Added · Updated
Notice 322 Information to be Submitted Relating to the Web Aggregator
Direct life insurers must submit specific product information for term life, whole life, endowment, and investment-linked insurance products to the appointed person via a designated platform for publication on the web aggregator. Submissions are required within seven working days after a product's launch or when information changes, with exceptions for products not denominated in Singapore dollars, short-term tranches, or those offered to limited classes of persons. The required data includes premiums, fees, key benefits, distribution costs, and credit ratings, prepared according to defined parameters and illustration rates.
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