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mixins.searchInfo_searchTermRequest approval for changes to technical business plans for life insurance contracts concluded before July 29, 1994

Request approval for changes to technical business plans for life insurance contracts concluded before July 29, 1994

Source: BUS Rheinland-Pfalz

For life insurance contracts of a life insurance company subject to federal supervision by the Federal Financial Supervisory Authority (BaFin) that were concluded before July 29, 1994, the business plans in force and approved at that time continue to apply (old portfolio).

As soon as you wish to change these technical business plans, you must have the changes checked and approved again by BaFin. Only then may they enter into force in their new version.

The technical business plan contains, among other things, information on

  • the principles for calculating premiums and technical provisions and
  • the mathematical formulas used and other calculation bases.

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