Notice 120 Disclosure and Advisory Process Requirements For Accident and Health Insurance Products
Requirements and best practices for insurers, insurance brokers, financial advisers and their representatives or broking staff on the disclosure and advisory process for accident and health insurance products.
Direct insurers and persons who act as an insurance agent for the insurers.
Registered direct insurance brokers and their broking staff.
Exempt direct insurance brokers and their broking staff.
Licensed financial advisers and their representatives.
Exempt financial advisers and their representatives who provide advice on or arrange accident and health insurance policies.
It sets out mandatory requirements and best practice standards on the disclosure of information and provision of advice for accident and health policies, and life policies with accident and health benefits.