The Decree implementing rules in relation to actively assisting clients with unit-linked insurance policies to make an informed choice (the Decree) has been published. The Decree introduces an obligation for life insurers to demonstrate that they have actively assisted clients with unit-linked insurance policies (beleggingsverzekeringen) to make an informed decision as to whether they want to continue, amend or terminate their unit-linked insurance policy. For these purposes, life insurers are required to provide their clients with adequate information on, amongst other things, the current and expected future financial consequences of the unit-linked insurance in relation to the purpose the client had at the time of concluding the insurance policy, the possibilities to amend or terminate the insurance policy and the consequences thereof.
This obligation is introduced as a result of various problems that have been associated with unit-linked insurances, such as high and unclear costs, lack of information, the effects of leverage and capital erosion and disappointing returns on investments.
The Decree only applies in relation to unit-linked insurance policies that were entered into before 1 January 2013.
View the Decree, 17 July 2015 (in Dutch).