The information disclosure for the non-traditional insurance products创新保险产品信息披露要求英文版.docVIP

The Information Disclosure for the Non-traditional Insurance Products Chapter 1 General Provisions Article 1: This regulation has been formulated with a view to standardizing the insurance activities, protecting the legitimate rights and interests of policyholders. The policyholder refers to the insurant, the insured or beneficiaries. The insurant, the insured or beneficiaries shall notify the insurer of the occurrence of the insured risks in time after they have learned about them. The insured refers to a person who is protected by the property or life insurance contract and who enjoys the right to insurance claims. An insurant may be an insured. A beneficiary refers to a person who has been designated by the insured or the insurant to enjoy the right to insurance claims. The insurant or the insured may be the beneficiary. Article 2: The non-traditional products here refer to the unit-linked products, universal products, participating products as well as other products approved by CIRC. Article 3: The information disclosure here means the insurance companies’ description to the public, including the products features, benefits and bonus demonstration, etc. Article 4: For the life insurance companies, when introducing a new product to the market, the product information following this guideline is required. Article 5: The information disclosure must be easy to understand, explicit, and objective. Article 6: When selling non-traditional products to policyholders, the insurance companies should provide contract clause, product introduction, as well as insuring tips. In concluding an insurance contract, if the format clause is provided by the insurance company, the format clause must be attached with the proposal form together, the insurer should explain the contents of the clauses of the insurance contract. The proposal term must include the confirmation column, and the validation of insurance contract needs the insurant’s written statement: “I have read the insuranc