Notices
Notice 321 Direct Purchase Insurance Products
Requirements for life insurers to manufacture and offer direct purchase insurance (DPI).
Issued pursuant to:
This notice applies to all direct life insurers, except those that are classified as life insurers with defined market segments in MAS' Financial Institution Directory.
It sets out:
- When a life insurer should manufacture and offer a direct purchase insurance (DPI).
- The requirements for naming, pricing, re-pricing and the necessary product features.
Amendment Notes
- 30 Mar 2015
- Notice 321 dated 30 Mar 2015 (433.9 KB) [Cancelled with effect from 13 May 2016]
Resources
Related to this Notice
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NoticesLast 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.
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CircularsPublished Date: 19 March 2021
ID 06/21 - AMENDMENTS TO MAS NOTICE 302 AND MAS NOTICE 321
Informs direct life and composite insurers on amendments to MAS Notice 302 - Product Development and Pricing, and MAS 321 Direct Purchase Insurance Products.
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CircularsPublished Date: 20 August 2020
ID 31/20 Amendments to MAS Notice 321
Informs direct life and composite insurers on amendments to MAS Notice 321 - Direct Purchase Insurance Products.
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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.
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Subsidiary LegislationPublished Date: 31 December 2015
Insurance (Web Aggregator Fees) Regulations 2015
Sets out the applicable fees for all direct life and composite insurers that participate in the web aggregator or compareFIRST.
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Subsidiary LegislationPublished Date: 18 April 2013
Insurance (Actuaries) Regulations 2013
Sets out the roles and responsibilities of appointed and certifying actuaries, and MAS' expectations on the appointment process and notification of engagements in equivalent roles in other jurisdictions.