Rights of the Insured

  1. The insured may cancel their policy within 15 days of receiving it.
  2. The insured is entitled to information about how premiums are allocated to fund investments.
  3. The insured can request the prospectus from life insurance agents or brokers.
  4. A complete list of asset management companies associated with the policy must be provided.
  5. The insured is entitled to details such as names, addresses, and licenses of the company, brokers, and agents.
  6. Information on risks associated with recommended unit trusts, including explanations and warnings, must be disclosed.
  7. The insured has the right to know about investment benefits or decisions, including those related to the sale of unit trusts.
  8. Any conflicts of interest, such as fees or incentives received by agents or brokers, must be disclosed.
  9. The insured may opt out of receiving communication for up to 2 years.
  10. Policyholders have rights under the insurance policy that differ from those of standard unit trust holders, including:
  • The purchase price of unit trusts may differ due to underwriting times.
  • Delays in receiving fund-related documents may occur compared to direct purchases from asset managers.
  • Insurance and administrative fees will be deducted as per the policy’s terms.

Precautions for the Insured

  1. Assess your financial readiness to maintain premium payments for this long-term commitment.
  2. Fully understand the insurance and investment conditions before purchasing the policy.
  3. Thoroughly review sales illustrations and clarify any questions with your agent or broker.
  4. Fill out the application yourself and avoid signing blank forms.
  5. Always request official payment evidence from agents or brokers.
  6. Respond promptly to the company’s verification calls after purchasing the policy.
  7. Follow up on all documents provided by the company to ensure your rights and benefits are maintained.

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