Insurance Company – Capital Resources Requirements Actuarial Health Insurance

Application provision

1.1 Unless otherwise stated, this Part applies to a non-directive insurer other than a non-directive friendly society.

13.1

01/01/2016

The conditions referred to in 8.2(2) and 9.2(2) are that:

  1. (1) the health insurance is underwritten on a similar technical basis to that of life insurance;
  2. (2) the premiums paid are calculated on the basis of sickness tables according to the mathematical method applied in insurance;
  3. (3) a provision is set up for increasing age;
  4. (4) an additional premium is collected in order to set up a safety margin of an appropriate amount;
  5. (5) it is not possible for the firm to cancel the contract after the end of the third year of insurance; and
  6. (6) the contract provides for the possibility of increasing premiums or reducing payments even for current contracts.