Guidelines On Applications For Approval Of New And Repackaged Life Insurance Products

Universal Life policies lapse on the date the net cash surrender value equals zero. The wording of Universal Life products must therefore require the insurance company to send written notice to the owner of the policy (during the grace period)  or  at least 30 days prior to the date of lapse. 

Procedures to Follow

Not Avaiable

Responsible Institution

National Insurance Commission


Relevant Forms to Download

Not Available

Fees & Charges

Not Avaiable