Guidelines
Guidelines on the Online Distribution of Life Policies With No Advice [FAA-G15]
Guidelines for financial advisers to safeguard the interest of clients when distributing life policies online without the provision of advice.
These guidelines apply to all licensed financial advisers and exempt financial advisers.
They set out the safeguards that financial advisers should put in place when distributing life policies online without advice which include:
- Offer of equivalent Direct Purchase Insurance products (DPI).
- Provision of key information.
- Provision of tools and calculators.
- Handling of queries, complaints and claims.
Amendment Notes
- 28 Feb 2024
- FAA-G15 (Amendment) 2024 takes effect.
- 29 Jun 2018
- FAA-G15 (Amendment) 2018 takes effect.
- 31 Mar 2017
- Previous version issued on 31 Mar 2017 (57.9 KB) [Cancelled]
Related to this Item
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CircularsPublished Date: 26 March 2024
ID 07/24 Amendments to Guidelines on the Online Distribution of Life Policies with No Advice [ID 01/17]
Informs insurers on the updated Guidelines on the Online Distribution of Life Policies with No Advice [ID 01/17].
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GuidelinesLast Revised Date: 26 March 2024
Guidelines on the Online Distribution of Life Policies with No Advice [ID 01/17]
Guidelines on safeguards that life insurers should put in place when distributing life policies online without the provision of advice.
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NoticesPublished Date: 30 August 2019
Notice FAA-N19 Distribution of Direct Purchase Insurance Products
Requirements for financial advisers and their representatives with respect to the distribution of direct purchase insurance products.
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NoticesLast Revised Date: 05 October 2018
Notice FAA-N03 Information to Clients and Product Information Disclosure
General principles and requirements that apply to all disclosures to clients by financial advisers and their representatives.
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ConsultationsPublished Date: 05 March 2013
Consultation Paper on Recommendations of the Financial Advisory Industry Review
Proposed recommendations aimed at raising the quality of financial advisers (FA) and competency of FA representatives, improving efficiency in the distribution of life insurance and investment products, and promoting a culture of fair dealing in Singapore.
- Consultation number:
- P004-2013
- Start date:
- 05 March 2013
- Closing date:
- 04 June 2013
- MAS response date:
- 30 September 2013
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ActsPublished Date: 31 March 2007
Financial Advisers Act 2001
Governs the regulation of financial advisers in Singapore, including their representatives and supervisors.