ABU DHABI // Young Emiratis must become fully engaged in the political process to ensure next month’s FNC elections are a success.
Dr Anwar Gargash, Minister of State for FNC Affairs and Chairman of the National Election Commission, stressed the essential role youths have to play on October 3.
“The youths’ voice is the most important voice in the coming elections,” Dr Gargash said.
“We would like the young of the UAE to vote because they are the builders of the future of this nation.
Their participation will enhance the elections because they’ll be selecting the candidates who will transmit their voice, making them an essential part of the process.”
Dr Gargash was speaking in Al Ain at the UAE University’s Fourth Forum for Building Political Awareness.
The forum was part of the NEC’s efforts to encourage all sections of Emirati society to take part in the elections next month.
“The candidates you select will work on solutions to your issues and legislation that will help your aspirations,” Dr Gargash told the students.
Saleh Al Mahri, 22, a political science student, said the address was very enlightening.
“We’re a unique country going through a unique period in history,” Mr Al Mahri said.
“Dr Gargash shed a light on the sad demise of our soldiers in Yemen. It was amazing to see the solidarity among the Rulers and the families.
“It’s rare to see that closeness anywhere in the world and he put that in perspective.”
Khaled Al Shebli, 23, a software development student, was delighted to hear from such a key decision-maker as Dr Gargash.
“Not only did he talk about the political process and youth involvement, he made us aware of the important role that we play in our nation’s future given the many international challenges the country is facing,” Mr Al Shebli said.
Tarik Lootah, undersecretary for the Ministry of State for FNC Affairs and head of the Elections Management Committee, said the forum aimed to build a political culture among students “by acquainting them with all dimensions of the process”.
“It reaffirms that the electoral process will be enhanced through youth participation and offers them the opportunity to express their opinions by selecting candidates who they feel can achieve their aspirations effectively.”
Mr Lootah said becoming politically aware did honour to the sacrifices made to protect the UAE and its achievements by the fallen Emirati heroes of Yemen.
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SPECS
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Key changes
Commission caps
For life insurance products with a savings component, Peter Hodgins of Clyde & Co said different caps apply to the saving and protection elements:
• For the saving component, a cap of 4.5 per cent of the annualised premium per year (which may not exceed 90 per cent of the annualised premium over the policy term).
• On the protection component, there is a cap of 10 per cent of the annualised premium per year (which may not exceed 160 per cent of the annualised premium over the policy term).
• Indemnity commission, the amount of commission that can be advanced to a product salesperson, can be 50 per cent of the annualised premium for the first year or 50 per cent of the total commissions on the policy calculated.
• The remaining commission after deduction of the indemnity commission is paid equally over the premium payment term.
• For pure protection products, which only offer a life insurance component, the maximum commission will be 10 per cent of the annualised premium multiplied by the length of the policy in years.
Disclosure
Customers must now be provided with a full illustration of the product they are buying to ensure they understand the potential returns on savings products as well as the effects of any charges. There is also a “free-look” period of 30 days, where insurers must provide a full refund if the buyer wishes to cancel the policy.
“The illustration should provide for at least two scenarios to illustrate the performance of the product,” said Mr Hodgins. “All illustrations are required to be signed by the customer.”
Another illustration must outline surrender charges to ensure they understand the costs of exiting a fixed-term product early.
Illustrations must also be kept updatedand insurers must provide information on the top five investment funds available annually, including at least five years' performance data.
“This may be segregated based on the risk appetite of the customer (in which case, the top five funds for each segment must be provided),” said Mr Hodgins.
Product providers must also disclose the ratio of protection benefit to savings benefits. If a protection benefit ratio is less than 10 per cent "the product must carry a warning stating that it has limited or no protection benefit" Mr Hodgins added.
COMPANY%20PROFILE
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Israel Palestine on Swedish TV 1958-1989
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