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CMFASPrepStudyingRES5
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Financial advisory
RES5Financial Advisory Services✓For a 'specified ILP', the Statement to Policyholders must be sent:
For a specified ILP the Statement to Policyholders is sent annually within 30 days of the policy anniversary (or a specified date each policy year). A specified ILP is a regular-premium ILP, or a single/recurrent-single-premium ILP whose death and critical-illness benefit is 150% or more of the premium; other ILPs are generally reported monthly.
Specified ILPs (higher-protection) report annually; it is the other single-premium ILPs that default to monthly statements.
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