Long Term Insurance Act, 1998 (Act No. 52 of 1998)

Part VII : Business practice, policies and policyholder protection

Purchase

(1)	Unless done in accordance with the rules prescribed under section 62, no person shall provide, or offer to provide, directly or indirectly, any valuable consideration as an inducement to a person to enter into, continue, vary or cancel a long-term policy.

(2)	Subsection (1) shall not apply in the case of a long-term reinsurance policy unless and to the extent that the Authority so determines by notice in the Gazette

[Section 45 substituted by section 9 of schedule 1 of Act No. 18 of 2017]