19.2.4. Life policies—exercising cancellation right
(1) This rule applies if a Retail Client has a right under COB 19.2.1 (New Life Policies—right to cancel) or COB 19.2.2 (Variations of Life Policies—right to cancel) to cancel a Life Policy effected by an Insurer with the Client.
(2) The Retail Client may exercise the cancellation right by giving notice of the exercise of the right to the Insurer in a durable medium.
(3) Without limiting subrule (2), if the Retail Client exercises the right in accordance with information given to the Client by the Insurer, the Client is taken to have complied with the subrule.
(4) The notice need not use any particular form of words and it is sufficient if the intention to exercise the right is reasonably clear from the notice or the notice and the surrounding circumstances.
(5) The notice need not give reasons for the exercise of the right.
(6) If the Retail Client exercises the cancellation right by sending notice to the Insurer at the address given to the Client by the firm for the exercise of the right and the notice is in a durable form accessible to the firm, the notice is taken to have been given to the firm when it is sent to the firm at that address.