Notices
 Last Revised Date: 19 March 2021

Notice 302 Product Development and Pricing

Requirements for the development and pricing of life insurance products and investment-linked policy sub-funds.

Issued pursuant to:

Insurance Act (Cap. 142) section 64(2)

Applies to: Direct Insurer (Life) , Direct Insurer (Composite)
View Notice Notice 302 Product Development and Pricing (156.4 KB)

This notice applies to all direct insurers licensed to carry on life business.

It sets out:

  • Requirements on management oversight, controls and policies and procedures on pricing and product development.
  • Prohibited payout features.
  • Requirements on procedure for approval of new products.
  • Guidelines for notifying MAS of new products launched.

Amendment Notes

19 Mar 2021
MAS 302 (Amendment) 2021 (172.9 KB) takes effect on 22 Mar 2021

05 Mar 2020
MAS 302 (Amendment) 2020 (743.1 KB) takes effect on 31 Mar 2020

29 Jun 2018
MAS 302 (Amendment) 2018 (295.5 KB) takes effect on 2 Jul 2018.

30 Mar 2015
MAS 302 (287.6 KB)

[last revised on 30 Mar 2015]