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COBS 13 Annex 1 The Consolidated Life Directive Information

This annex belongs to COBS 13.1.2 R (The Consolidated Life Directive Information)

Information about the firm


The firm's name and its legal form;


The name of the EEA State in which the head office and, where appropriate, agency or branch concluding the contract is situated; and


The address of the head office and, where appropriate, agency or branch concluding the contract.

Information about the commitment


Definition of each benefit and each option;


Term of the contract;


Means of terminating the contract;


Means of payment of premiums and duration of payments;


Means of calculation and distribution of bonuses;


Indication of surrender and paid-up values and the extent to which they are guaranteed;


Information on the premiums for each benefit, both main benefits and supplementary benefits, where appropriate;


For unit-linked policies, definition of the units to which the benefits are linked;


Indication of the nature of the underlying assets for unit-linked policies;


Arrangements for application of the cooling-off period;


General information on the tax arrangements applicable to the type of policy;


The arrangements for handling complaints concerning contracts by policyholders, lives assured or beneficiariesunder contracts including, wereappropriate, the existence of a complaints body, without prejudice to the right to take legal proceedings; and


Law applicable to the contract where the parties do not have a free choice or, where the parties are free to choose the law applicable, the law the insurer proposes to choose.

[Note: article 36(1) of, and Annex III to, the Consolidated Life Directive]