Regulatory Alerts2019-06-06
Added · Updated
Sale of Medical Insurance Products
The Hong Kong Monetary Authority reminds authorized institutions to comply with regulatory requirements when selling medical insurance products, including Voluntary Health Insurance Scheme Certified Plans. Institutions must ensure customer suitability, adequately disclose product features and risks, and explain cooling-off rights to customers. Additionally, sales staff must undergo proper training and avoid undue emphasis on tax deductions to ensure customers understand the product's suitability and risks.
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