Insurance Authority launches further measures to open up online purchase of all life insurance products
保險業監管局推出進一步措施以便網上購買所有人壽保險產品
The Insurance Authority has issued a circular to all authorised life insurance companies, opening up the distribution of all life insurance products, including investment-linked life insurance, through online channels to reduce the risk of infection during the sales process. The temporary facilitation measures for non-face-to-face sales of specified protection products will be extended to 30 September 2022, the cooling-off period for policies sold through the remote underwriting sandbox must be extended to no less than 30 days, and the Insurance Authority has set up a fast track to process sandbox applications.
The circular sets out three specific arrangements, including the extension of the facilitation measures to 30 September 2022 and a cooling-off period of no less than 30 days, allowing readers to check the terms applicable when they took out their policies.
Source: 保監局·新聞稿 · ia.org.hk