Every industrial life policy issued by a company after the commencement of this Act shall contain an endorsement in distinctive type setting out—
(a) whether the policy is or is not a participating policy; and
(b) a short statement in a form approved by the Registrar as to—
(i) the right of the policy-holder to be granted a paid up policy,
(ii) the right of the policy-holder to surrender his or her policy and to receive in cash the surrender value of the policy, and
(iii) the forfeiture of the policy.