30 Jan 2002
To: Principal Officers
Direct Life Insurers
Dear Sir
REVISION TO MAS NOTICE 303
- MORTALITY STUDIES ON ASSURED LIVES
With effect from the submission for year 2001, all direct life companies are required to prepare MAS 303 returns based on the standardized age and duration definition as follows:
Form A - In force Policies (ZIP, 7.15KB)
Age: (Attained) Age Last Birthday at 31 Dec YYYY where YYYY is Year of Return
Duration: Curtate Duration i.e. 31 Dec YYYY minus Date of Risk Commenced (ignoring the portion of a year)
Form B(2) - Death Claims (ZIP, 7.43KB)
Age: Age Last Birthday at Death
Duration: Curtate Duration i.e. Date of Death minus Date of Risk
Commencement (ignoring the portion of a year)
Form C(2) - Accidental Death & Permanent Total Disability Claims (ZIP, 12.3KB)
Age: (Attained) Age Last Birthday
Please prepare the above Forms in Excel (see templates attached) and submit in both softcopies and hardcopies by 30 Jun each year. If adjustments are required for the conversion of data to the standardized basis, please indicate at the foot of each Form the details of the methodology used. Companies are required to take all possible steps to ensure the accuracy of the data submitted.
We will incorporate the above changes in the revised MAS Notice 303 soon. Should you have any questions, please contact Sophia Lau at DID 62299419 or e-mail sophialau@mas.gov.sg.
Yours sincerely
(sent via MASNET)
MRS HAUW SOO HOON
EXECUTIVE DIRECTOR
INSURANCE DEPARTMENT
FINANCIAL SUPERVISION GROUP
ENC
