French Insurance Code
In forceWithout prejudice to the provisions of articles L. 521-1 and L. 521-2, the intermediary or insurance company shall provide the prospective subscriber or member with the following information prior to the conclusion of any contract referred to in article L. 522-1:
1° An indication of whether or not the periodic assessment of the suitability of the recommended investment products for the requirements and needs of subscribers and members, as provided for in article L. 522-6, will be submitted to the intermediary or insurance company. 522-6;
2° Information on the contracts and investment strategies proposed, including appropriate guidance and warnings about the risks inherent in these contracts or in certain investment strategies proposed;
3° With the exception of the contracts mentioned in articles L. 144-1, L. 144-2 and L. 441-3, information on all related costs and expenses that must be disclosed, including any additional distribution costs that are not already included in the costs and expenses specified in the key information documents provided for in Regulation (EU) No 1286/2014 of the European Parliament and of the Council of 26 November 2014, and in particular those that are not caused by the occurrence of an underlying market risk. All of these costs and charges are presented in aggregate to enable the prospective subscriber or member to understand their cumulative effect on the return on the investment. If requested by the prospective subscriber, a breakdown of additional distribution costs will be provided.
This information is provided to the subscriber on a regular basis, at least annually, during the life of the investment. It shall be presented in an easily understandable, accurate and non-misleading form, so that prospective subscribers or members are able to understand the nature and risks of the insurance-based investment product offered to them and thus make informed investment decisions.
