A "Policy Pre-Maturity Notice" will be sent to the policyowner two months before the day of policy maturity mentioning about the payout arrangement. For the sake of customer's convenience, policyowner may give instruction to deposit the maturity payment to his/her sole name bank account or receiving the payment by cheque.
Customers may contact us either through our Customers Services Hotline at (852) 2516 0133 during office hour (Mon – Fri 9:00am – 5:30pm; except public holidays) or email to firstname.lastname@example.org, or send your written enquiry to Suites 1206-1209, 12/F, Dorset House, Taikoo Place, 979 King's Road, Quarry Bay, Hong Kong. We will handle the enquiries as soon as possible.
If policyowner is not fully satisfied with the newly issued policy, policyowner can return the policy to our Company with a written request signed by the policyowner to request for its cancellation. Such letter of cancellation request must be received directly by our Company within 21 days after the delivery of the policy to the policyowner or policyowner's representative or issuance of Company's "Notice of Policy Issuance" to policyowner or policyowner's representative, whichever is earlier. The policy will then be cancelled and the premium(s) paid will be refunded after deduction of market value adjustment (if any). However, no refund of premium will be made if a claim has been paid under the policy.
We will refund the premium(s) in such currency as policyowner made the premium payment. However, if policyowner purchases the policy in a currency different from the policy currency, we reserve the right to adopt the exchange rate prevailing as at the time of refund (instead of the exchange rate with which the policyowner made the premium payment). In this case, policyowner may bear the risk due to the differences in exchange rate.
When considering policy replacement, the policyowner should pay attention on the surrender value of the existing policy as it may be less than the total premiums paid, leading to severe loss suffered by the policyowner. Besides, the policyowner should also pay attention that the new insurance company may re-assess the application with underwriting criteria such as the applicant's health condition, occupation, etc. Moreover, the provisions of the new policy may be different from those of the existing policy, which may affect results of future claims.
To ensure the insurance intermediary has explained the impact and potential loss to the policyowner in details, and also to ensure the customers can fully understand the risk and consequences, policyowner must complete a "Customer Protection Declaration Form" at time of policy replacement. To protect own interests, before considering policy replacement, policyowners are highly recommended to carefully compare the terms of the existing policies with the new policies and to consider the risks and determine for their best own interests.
We have responsibility to understand the needs of customers in terms of Suitability and Affordability and their related information for properly assessing and analyzing their insurance needs, before giving advice or concluding a contract.
As required by the Hong Kong Federation of Insurers, we are required to make audio-recorded of post-sale confirmation calls to some customers procuring individual life insurance products to ensure their understanding on the products and the associated risks.
Should there be death of the insured person, the death benefit will be paid to the designated beneficiary of the policy according to the policy provision. However, if the beneficiary predeceases the insured person, or if the beneficiary and the insured person die at the same time, or if the beneficiary does not survive ten (10) days from the death of the insured person, the interest of such beneficiary shall pass to other surviving beneficiaries in such proportion as designated by the policyowner. If there is no other surviving beneficiary, or if the policyowner does not designate any beneficiary, any benefits payable to the beneficiary under the policy shall be paid to the policyowner or the estate of the policyowner (as the case may be). Please refer to policy provisions for details.