Long Term Insurance Act, 1998 (Act No. 52 of 1998)

Regulations

Regulations under the Long-term Insurance Act, 1998

Part 5 : Requirements and Limitations regarding the Values and Benefits of Policies (Section 54)

Part 5A : Policies other than Policies to which Part 5B applies

5.9 Variable premium increase in respect of policies to which this Part applies
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Despite anything contained in this Part or the regulations, any variable premium increase on or after 1 January 2018 in respect of—

(a)a policy other than a universal whole of life policy to which this Part applies;
(b)the investment component of a universal whole of life policy;

is subject to Part 3B and Part 5B and must be regarded as constituting a separate policy for purposes of the application of those Parts.

 

[Regulation 5.9 substituted by regulation 6(n) of Notice No. 1437 of 2017]