According to Paragraph 4 of Article 13 of the Directions for Sale of Investment-linked Insurance Products, "a product prospectus shall be given to the applicant to retain." The Financial Supervisory Commission issued an interpretative letter for such paragraph, Ref. No. Jin-Guan-Bao-Shou-Zi-10502545281 dated 11 October 2016. The main points are as follows:
1."A product prospectus shall be given to the applicant to retain" means the product prospectus sent by an insurance enterprise to the applicant may be in electronic form and shall comply with the following regulations and procedures:
(1)Insurance enterprise may, with the applicant's written consent, send to the applicant the product prospectus in electronic form; furthermore, the delivery of such prospectus shall comply with the Personal Data Protection Act.
(2)After the delivery of such product prospectus in electronic form, the insurance enterprise shall obtain a written receipt from the applicant or equivalent proof (e.g., telephone recordings). Should there be any disputes regarding the delivery of product prospectus in the future, the burden of proof is on the insurance enterprise.
(3)If the applicant requests a hard copy of such product prospectus after the delivery of the electronic version, the insurance enterprise shall send a hard copy to the applicant free of charge.
(4) The insurance enterprise shall upload the product prospectus to its website for browsing or downloading.
2. In addition to the delivery requirements set forth above, the insurance enterprise shall include the contents of this letter in its internal control process and shall carry out internal audit and self-inspection accordingly.