II

Insurance-based investment products: minimum necessary knowledge of insurance-based investment products, including terms and conditions and net premiums and, where applicable, guaranteed and non-guaranteed benefits; minimum necessary knowledge of advantages and disadvantages of different investment options for policyholders; minimum necessary knowledge of financial risks borne by policyholders; minimum necessary knowledge of policies covering life risks and other savings products; minimum necessary knowledge of organisation and benefits guaranteed by the pension system; minimum necessary knowledge of applicable laws governing the distribution of insurance products, such as consumer protection law and relevant tax law; minimum necessary knowledge of the insurance market and of the saving products market; minimum necessary knowledge of complaints handling; minimum necessary knowledge of assessing customer needs; conflicts of interest management; minimum necessary knowledge of business ethics standards; and minimum necessary financial competency.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-28 · Text as adopted (Official Journal); later amendments are not incorporated in this text.