On 13 September 2019, the Insurance Authority (IA) has gazetted all six (6) life insurance guidelines (Guidelines) which were previously issued by HKFI and are now under the IA’s jurisdiction.

To facilitate Members’ compliance, the Life Insurance Council has invited industry experts to assist IA in deriving Interpretation Notes for each of these Guidelines.

And to provide clarity surrounding the implementation of the Guidelines, we have arranged a Townhall (Part 1 & Part 2) for IA to explain to the industry the major changes, principals and the policy intent for below Guidelines:

Part 1:

• Guideline on Financial Needs Analysis (GL30); and
• Guideline on Long Term Insurance Policy Replacement (GL27)

Part 2:

• Guideline on Cooling-Off Period (GL29); and
• Guideline on Offering of Gifts (GL25)

Meanwhile, a separate Townhall will be announced for the remaining two Guidelines:

Part 3:

• Guideline on Sale of Investment-Linked Assurance Scheme Products (GL26); and
• Guideline on Benefit Illustrations for Long Term Insurance Policies (GL28).

Please find details of the Townhall sessions on the following page. Five seats are reserved for each LIM on a first-come-first-served basis. Email confirmations will be sent to successful registrants after the registration deadline (i.e., Tuesday, 13 November 2019). Should you have any queries, please contact Communications & Committee Department at committee@hkfi.org.hk.