Notice 318 Market Conduct Standards for Direct Life Insurer as a Product Provider
Requirements and standards for life insurers as product providers.
This notice applies to all direct life insurers as product providers of life policies.
It sets out:
- Mandatory requirements on disclosure, the sales process, replacement of life policies, loans and advances, cessation of business with financial advisers and reports to MAS.
- Non-mandatory standards on disclosure.
- 29 Jun 2018
- Notice 318 (Amendment) 2018 (615.2 KB) takes effect from 2 Jul 2018.
- 01 Apr 2015
- Notice 318 (Amendment) 2015 (149.3 KB) takes effect from 1 Apr 2015.
- 30 Oct 2012
- Notice 318 dated 30 Oct 2012 (134.5 KB) [Cancelled with effect from 29 Jun 2018]
Related to this Notice
NoticesLast Revised Date: 17 September 2021
Notice FAA-N16 Recommendations on Investment Products
Requirements for financial advisers and their representatives with respect to recommendations made on investment products.
NoticesLast Revised Date: 19 February 2021
Notice 306 Market Conduct Standards for Life Insurers Providing Financial Advisory Services as defined under the Financial Advisers Act
Requirements and standards for life insurers providing financial advisory services.
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.
CircularsPublished Date: 29 June 2018
ID 05/18 Amendments to (i) MAS Notices 302, 318, 320 and 322, and (ii) Guidelines on the Online Distribution of Life Policies with no Advice (Guideline ID 01/17)
Informs all direct life and composite insurers on the finalisation of the FAIR changes and the key changes that have been implemented in relation to enhanced product disclosure.
NoticesLast Revised Date: 29 June 2018
Notice 322 Information to be Submitted Relating to the Web Aggregator
Requirements on information that life insurers have to submit to the web aggregator.
GuidelinesLast Revised Date: 29 June 2018
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.