Long Term Insurance Act, 1998 (Act No. 52 of 1998)RegulationsRegulations under the Long-term Insurance Act, 1998Part 3 : RemunerationPart 3B : Investment policies that started on or after 1 January 20093.14 Premium increases and additional premiums |
If the premium is increased in accordance with the terms of the policy as at the start of the policy or as amended from time to time, or if an additional premium is paid, the discounted and undiscounted commission in respect of the increased portion of the premium or in respect of the additional premium must, except for the purpose of subregulation 3.15(4), be dealt with as if —
| (a) | the increased portion of the premium, or the additional premium, were a premium payable or paid under a separate policy; and |
| (b) | that separate policy starts on the first or only payment date of the increased portion of the premium or the additional premium. |