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Article 12 Advertising Persons and Fund Accumulation Insurance Policies

IA-BOD-RES 3/2010 Effective from 21/3/2010

In its advertisements and publications relating to insurance policies for persons and fund accumulation, the Company shall comply with the following:

  1. Not to provide false information with respect to obtaining loans or arranging mortgages backed by the Policy.
     
  2. Not to use ambiguous phrases or assigning names, titles or descriptions to policies that would give the public a misleading and unreal impression whether about the benefits the Policy offers, the scope of coverage or the specific premium.
     
  3. Fully disclose any terms contained in the Policy that would restrict or reduce the nominal value entitled under the Policy.
     
  4. Not to include in the advertisement any exaggerated information about profit sharing, interests or eligibility to a share of the surplus.
     
  5. The advertisement draft should not include any unfair or inaccurate comparison between the benefits offered by the advertised Policy and those offered by policies of other companies, or that may constitute a tort to the position of competitors.
     
  6. Not to include in an advertisement about a Policy ant reference that may identify such Policy as a special offer; or may indicate that the holder thereof will enjoy unspecific benefits later on; or that the offer is available for a group of irrelevant individuals, applicable only to a specific number of policies or valid only for a specific period of time, after which the provision of the advertised Policy is stopped, unless it is the actual reality.
     
  7. Focus in the advertisement on insurance advantages and avoid exaggeration in listing the investment advantages that may or may not be achieved in the future.