December 16, 2008

New life insurance products, misleading sales to a maximum fine of 300,000 yuan

In order to further standardize the cast even includes a new type of insurance, life insurance products, information disclosure system, the China Insurance Regulatory Commission today issued special "life insurance products, new information" and to solicit opinions from all sides. According to the provisions of the draft, start a new personal insurance products to customers and the public description of the new life insurance product features, insurance interests of the calculation, introduced the operating results and other related information, the disclosure of information should be user-friendly language and accurate description of the product Information about the content, and objectivity, authenticity, no major omissions, customers may not deceptive, misleading and deliberately concealed.



It is understood that the term life insurance products is the new investment link insurance, universal insurance, insurance dividends, as well as the China Insurance Regulatory Commission finds that the other products. Including the disclosure of the way through the media, but not limited to, disclosure of the company's Web site, through sales outlets, sales promotion, the report sent to the customer information, product descriptions, as well as the convening of such means.



According to the provisions of the draft, insurance companies offer life insurance of new products, product manuals, insurance, interest calculations, such as the contents of the book should be in line with the provisions of the insurance. Insurance companies selling life insurance products, the new contract must be signed before the insured to provide insurance terms, product brochures and prompt insurance, shall not in any way to this new type of company products, operating results compared with other insurance companies, it will not be new products and Savings banks and other financial products simple comparison.



According to regulations, insurance regulators will, depending on the seriousness of the imposition of insurance companies ordered to correct their errors, more than 50,000 yuan a fine of 300,000 yuan and ordered to stop accepting new business or business-related businesses eligible for cancellation penalties, and so on.



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