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Law of Life Insurance in Malaysia, Second Edition

This Second Edition of The Law of Life Insurance in Malaysia encompasses the recent changes to the insurance industry brought about by the Financial Services Act 2013 (FSA) which came into force on 1st July, 2013.
Publisher: LexisNexis
Book
RM 350.00
Quantity
In Stock
Published:
ISBN/ISSN: 9789674002466
Publisher: LexisNexis

Product description

This Second Edition of The Law of Life Insurance in Malaysia encompasses the recent changes to the insurance industry brought about by the Financial Services Act 2013 (FSA) which came into force on 1st July, 2013. Important changes have been made to the law affecting life insurance with the view of consolidating and addressing the shortcomings in the law as it was under the repealed Insurance Act 1996. The law of disclosure in respect to life insurance contracts has been drastically modified with the introduction of consumer and non-consumer insurance contracts. In this book, the impact of the FSA on the law governing life insurance in Malaysia have been highlighted and discussed at length.

Having incorporated all the latest changes to the law of life insurance, this work is a comprehensive legal and practical guide to life insurance and covers all the related matters associated with the formation to the discharge of the life insurance contracts. It is envisaged that this work will serve as a useful reference to everyone involved in the life insurance industry namely the agents, claim assessors, underwriting and legal personnel in the life insurance companies and also lawyers who advise policy owners and insurers and the judicial officers who implement and interpret the laws associated with. With this latest edition incorporating all the provisions in the FSA relating to life insurance, it is hope that this work will be invaluable to the understanding and development of the law of life insurance in this country.

Table of contents

Introduction

Formation of a life insurance contract

Insurable interest

Proposal Form

Duty to Disclose

The Policy

The Life Insurance Agent

Premium

Beneficiaries/Nominees

Assignment

Trust

Statutory Trust Policies

Policy Lapse, Surrender, Non-Forfeiture and Reinstatement

Insurance Claims

Payment of Policy Moneys

Discharge of Life Policies

Succession/Inheritance

Types of Life Insurance Products

Income Tax and Life Insurance