Subject Title - INSETA

estrictions on or penalties for early termination of or withdrawalfrom the product, or other effects, if any, of such termination orwithdrawal. 65Material tax considerations and whether cooling off rights are offeredand, if so, procedures for the exercise of such rights. 66Any material investment or other risks associated with the productincluding any risk of loss of any capital amount(s) invested due tomarket fluctuations. 67Amounts of insurance premium increases of an insurance product, forthe first five (5) years and thereafter on a five-year (5-year) basisnot more than 20 years. 68Written statement to the client, at least once a year, which identifiesthe products and states the ongoing monetary obligations of theclient, main benefits of the product, value of an investment and howmuch is accessible to the client and ongoing incentives,consideration, commission, fee or brokerage payable to the providerin respect of the product/s (except if the client knows or should haveknown that the provider does not render financial services anymoreor not to the client anymore.); 69Where a financial product is being replaced (the terminated product)by another financial product (the replacement product) held by theclient, disclosure must be made of:– the actual and potential financial implications, costs andconsequences of the replacement – including: 70o comparison of fees and charges between the twoproducts.o special terms and conditions, exclusions of liability,waiting periods, loadings, penalties, excesses,restrictions or circumstances in which benefits will notbe provided, applicable to the replacement productcompared to the terminated product.o to what extent the replacement product is readilyrealisable or the relevant funds accessible, comparedto the terminated product.o loss of rights and minimum guaranteed benefits whichwill be lost due to the replacement.65 Section 7(1)(c)(ix)(x) of the General Code66 Section 7(1)(c)(xi) & (xii) of the General Code67 Section 7(1)(c)(xiii) of the General Code68 Section 7(1)(c)(xiv) of the General Code69 Section 7(4) of the General Code70 Section 8(1)(d) (i)/(ii)/(vii)/(viii) of the General Code© INSETA - Section 1 12a 143