Special Investigating Units and Special Tribunals Act, 1996
R 385
Long Term Insurance Act, 1998 (Act No. 52 of 1998)RulesPolicyholder Protection Rules (Long-term Insurance), 2017Chapter 8 : Administration |
1. Repeal and saving provision
| 1.1 | The Policyholder Protection Rules published under Government Gazette 26854 of 30 September 2004 and amended by Government Notice 1214 in Government Gazette 33881 of 17 December 2010 are hereby repealed. |
| 1.2 | Despite the repeal referred to in section 1.1, the following rules of the previous Policyholder Protection Rules referred to in section 1.1 continue to apply to all new and existing policies, products, services and arrangements as follows: |
| (a) | for a period of 12 months from 1 January 2018: |
| (i) | Rule 4, Part III: Basic Rules for Direct Marketers; |
| (ii) | Rule 6, Part V: Rules on Cancellations of policies and Cooling-Off; |
| (iii) | Rule 18 on Policy Loans and Cessions, Part VIII: Additional Insurer Duties; and |
[Section 1.2(a) of Chapter 8 substituted by rule 11(a) of Notice No. 997, GG 41928, dated 28 September 2018]
| (b) | for a period of 24 months from 1 January 2018: |
| (i) | Rules 8 to 15, Part VII: Assistance Business Group Schemes. |
[Section 1.2(b) of Chapter 8 substituted by rule 11(b) of Notice No. 997, GG 41928, dated 28 September 2018]
| 2. | Short title and commencement |
| 2.1 | These rules are called the Policyholder Protection Rules (Long-term Insurance), 2017. |
| 2.2 | These rules will come into operation as follows— |
|
Chapter |
Rule |
Commencement |
|
Chapter 1: Interpretation |
1 January 2018 |
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Chapter 2: Fair treatment of policyholders |
Rule 1.1 to 1.4 |
1 January 2018 |
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Rule 1.5 to 1.9 |
1 January 2019 |
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Rule 1.10 |
1 January 2018 |
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Chapter 3: Products |
Rule 2 |
1 January 2018 |
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Rule 2A |
1 October 2018 |
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Rule 3 |
1 January 2018 |
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Rule 4 |
1 January 2019 |
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Rule 5 |
1 January 2018 |
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Rule 6.1 |
1 January 2018 |
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Rule 6.2 to 6.4 |
1 July 2018 |
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Rule 6.5 |
1 January 2018 |
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Rule 7.1(a) to (e) and 7.2 |
1 January 2018 |
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Rule 7.1(f) to (i) and 7.3 |
1 October 2018 |
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Rule 8 |
1 January 2018 |
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Rule 9 |
1 January 2018 |
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Chapter 4: Advertising and Disclosure |
Rule 10 |
1 July 2018 |
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Rule 11 except for the following rules: 11.5.1(j), 11.5.2 and 11.5.4 |
1 January 2019 |
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Rule 11.5.1(j), 11.5.2 and 11.5.4 |
1 October 2018 |
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Chapter 5: Intermediation and distribution |
Rule 12.1 to 12.3 except for 12.2.1 and 12.2.2 insofar as they relate to existing intermediary agreements |
1 January 2018 |
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Rule 12.2.1 and 12.2.2 insofar as they relate to existing intermediary agreements |
1 January 2019 |
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Rule 12.4 |
1 January 2019 |
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Chapter 6: Product performance and acceptable service |
Rule 13 |
1 January 2020 |
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Rule 14 |
1 July 2018 |
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Rule 15 |
1 July 2018 |
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Rule 15A |
1 October 2018 |
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Rule 16 |
1 January 2019 |
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Chapter 7: No unreasonable post-sale barriers |
Rule 17, except insofar as it relates to group schemes |
1 January 2019 |
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Rule 17, insofar as it relates to group schemes |
1 July 2019 |
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Rule 18, except insofar as it relates to group schemes |
1 January 2019 |
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Rule 18, insofar as it relates to group schemes |
1 July 2019 |
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Rule 19 |
1 July 2018 |
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Rule 20 |
1 January 2020 |
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Rule 21 |
1 October 2018 |
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Chapter 8: Administration |
1 January 2018 |
[Section 2.2 of Chapter 8 substituted by rule 11(b) of Notice No. 997, GG 41928, dated 28 September 2018]
