Clawback and grandfathering rules under LIF | AIA Adviser News

Where a Policy is grandfathered for LIF purposes, any additions to the same policy will also be grandfathered.

Any grandfathered policy which is cancelled and replaced on or after 1 January 2018 will no longer be grandfathered for LIF purposes.

Clawback Rules

Grandfathered Policies:

Our existing 12 month clawback rules will continue to apply to grandfathered policies (and additions to grandfathered policies).

Policies not Grandfathered:

There will be a two year clawback period for all policies not grandfathered. This clawback period applies to any commission paid on the original sum insured and any additions made in the first two years.

Any commission paid on additions to a policy after the two year clawback period has ended will be subject to our existing 12 month clawback rules.