FSC urges consumers not to buy unapproved offshore insurance products
2020-06-09
The FSC occasionally receives tips regarding domestic citizens who, purporting to act in the name of an asset management company or a financial consulting firm, solicit or recommend investment-linked insurance policies that link to offshore feeder funds without approved by the competent authority, and they claim the policies are appropriate as long-term investments that will yield excellent returns. However, when the seller of such a product is a foreign insurer that has not been approved by the FSC to do insurance business in Taiwan, its insurance products will not have been examined and approved by the FSC (and will thus be what is generally called a “black market insurance policy”). The FSC recently urged consumers to protect their interests by refraining from purchasing offshore insurance products that have not been approved by the competent authority.
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Update:
2020-09-16