Regulatory Alerts2025-02-28
Added · Updated
Practice Note on Illustration Rate Caps in Benefit Illustration for Participating Policies
The Insurance Authority issued this Practice Note on 28 February 2025 to establish caps on illustration rates used in benefit illustrations for participating policies. The regulation applies to all authorized institutions and aims to ensure that product illustrations remain realistic and prudent. This guidance standardizes the assumptions used in marketing materials to protect consumers from misleading projections.