11.6. Information about Contract of Insurance or Takaful Contract
11.6.1. Adequate information
An Insurance Intermediary must provide adequate information in good time and in a comprehensible form to enable a Client to make an informed decision about whether or not to enter a Contract of Insurance or a Takaful Contract proposed by the Insurance Intermediary.
11.6.2. Policy summary
An Insurance Intermediary must provide a Retail Client with a policy summary explaining the terms of the Contract of Insurance or the Takaful Contract:
- (a) the name of the insurer;
- (b) type of insurance and cover;
- (c) significant features and benefits;
- (d) significant or unusual exclusions or limitations;
- (e) applicable period of cover;
- (f) a statement, where relevant, that the consumer may need to review and update the cover periodically to ensure it remains adequate;
- (g) the procedure for handling complaints; and
- (h) contact details for notifying a claim