The FSC announced amendments to Article 15-2 and Article 67 of the Directions for the Review of Life Insurance Product on April 9, 2018. The regulation for revocation right shall be incorporated into individual life insurance contracts which have a term of over two years, raising the legal status of the regulation. Meanwhile, insurance companies are not allowed to include a waiting period in the insurance contract when a policy providing cancer or critical illness coverage is reinstated, in order to further protect the interests of policy holders.