Protection business included in OLTB

Hi

Can someone tell me the broad product groups that were moved from BLAGAB to OLTB? eg. term assurance, endowment, whole life..etc




Thank you

 

I think term assurance is definitely one of them.

I've come across a question in one of the recent past exams involving the reasons why term assurance has moved from BLAGAB to OLTB.

So I think it may be more important to be able to explain why such a change may have occurred for a given product type.

 

Protection products were moved over to OLTB. These are policies with mainly mortality / morbidity risk transfer with no investment/savings. They are generally low cost (low premiums) and low reserves. Examples are Term Assurance (level, decreasing etc) and associated rider benefits such as critical illness etc. Income Protection comes under this product group but that was already part of OLTB before this latest changes.

 

So endowment and whole of life are not OLTB?

 

Thank you