Regulatory Alerts2025-02-28
Added · Updated
Practice Note issued by the Insurance Authority on Illustration Rate Caps in Benefit Illustration for Participating Policies
The Insurance Authority issued this Practice Note to establish illustration rate caps for benefit illustrations of participating policies. The document provides specific guidance to authorized institutions on calculating and applying these caps to ensure consistency and transparency in product disclosures. This regulatory measure aims to protect policyholders by standardizing the assumptions used in projecting future benefits for participating insurance products.