PRIIPs – Packaged Retail & Insurance Based Investment Products


11th Jan 2018

The Regulation on key information documents for packaged retail and insurance-based investment products” (PRIIPs) came into force on the 3rd of January.  The aim of the Regulation is to create a standardised, easy to understand “Key Information Document (KID)” for PRIIPs, which facilitates comparison between different products.

PRIIPs are packaged retail investment products, insurance-based investment products and packaged retail and insurance-based investment products which are, broadly speaking, products where the amount repayable, or the maturity or surrender value is subject to fluctuations.   It does not apply to non-life insurance or to life insurance contracts where the benefits under the contract are payable only on death or in respect of incapacity due to injury, sickness or infirmity.   It does not apply either to “simple” deposits, certain securities and pensions.

It is the responsibility of the product manufacturer to draft the KID, however, it is the responsibility of the Broker to provide the client with the KID at the point of sale.  Life companies have indicated that they have communicated to Brokers in relation to the requirement to provide the KID at the point of sale and that the KID is available on their life company broker centers.

If members have any concerns in relation to the KID, please email them to