Detail for GN700(B)
The purpose of this Guidance Note is to specify the minimum standards required and scoring mechanism for Access products for the Long-term Insurance industry.
ASISA, through the Access Standards and this Guidance Note reaffirms its FSC based commitment to ensure that the Long-term insurance industry continues to develop and roll-out insurance products that will ensure that lower income households are able to access cover based on fair and equitable terms.
The standards detailed in this document apply for Group Schemes: In general if the sale of a product is made as part of any group scheme, the product must comply with the standards in the same way as if it was an individual policy. Where there are exceptions for Group Schemes business these will be stated in the relevant product standard.