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ICOBS 6.3 Pre- and post-contract information: pure protection contracts

Life insurance directive disclosure requirements

  1. (1)

    Before a pure protection contract is concluded, a firm must inform a customer of the information in the table below.

  2. (2)

    The information must be communicated in a clear and accurate manner, in writing, and in an official language of the State of the commitment or in another language agreed by the parties.

  3. Information to be communicated before conclusion


    The name of the insurance undertaking and its legal form.


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


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


    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.


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


    Arrangements for application of the cancellation 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 beneficiaries under contracts including, where appropriate, the existence of a complaints body (usually the Financial Ombudsman Service), without prejudice to the right to take legal proceedings.


    The 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 insurance undertaking proposes to choose.

    Note: The rule on mid-term changes applies to items marked with an asterisk (see ICOBS 6.3.3 R).

[Note: Annex III(A) to the Consolidated Life Directive]


If the contract is concluded with a commercial customer by telephone, the information in this section may be provided immediately after conclusion.

Mid-term changes


In addition to the policy conditions, both general and special, a customer must, throughout the term of a pure protection contract, receive:

  1. (1)

    any change in the name of theinsurance undertaking, its legal form or the address of its head office and, where appropriate, of the agency or branch which concluded the contract; and

  2. (2)

    all the information marked ‘*’ in the table of information to be communicated before conclusion, in the event of a change in the policy conditions or amendment of the law applicable to the contract.

[Note: Annex III(B) to the Consolidated Life Directive]