Withdrawal - Utmost Worldwide

Quilter International policies do not apply to these forms, please get it via Service Log to principal.

Important Notice for New Partial Surrender Request Form (Updated: 5 Jan 2021)

By using Full Request Form (Version 1220) or Partial Surrender Request Form(Version 1120),International Tax Compliance (ITC)Form,signed Indicative Surrender Value and Lost Policy Declaration shall no longer be required.  However, the following sections must be completed:

1. Tax Residence information for individual clients on p.1 (please note the ITC Entities Form will still be required for Corporates / Trust policies, if we do not have one on file)
2. Reason For Your Surrender (Section B for Partial Surrender or Section D for Full Surrender)
3. Section C Surrender Value Disclaimer – Please input the Indicative Surrender Value, sign and date
4. Clients are required to sign on both Section C and last page of the surrender request forms
5. For Full Surrender, if client has lost or misplaced the policy schedule, please tick the first box in Section F - Additional Requirements

Important Notice

• All documents must be printed and signed by the policyholders
• Specimen Signature Form may be requested if client’s signature does not match with the original application
• A clear and legible certified copy of client’s identity is required, details must include a photograph of high enough quality that facial features can be distinguished, the document number, expiry date and MRZ line must also be clearly visible.
• If the bank details for encashment payment differ from the original source of fund, further verification checks will be required
• Where proceeds are requested to be paid to Utmost policyholder’s account with another regulated financial services business other than their personal name bank account, Utmost require either an up to date statement or letter from the institution confirming a new business application is being processed/ an existing policy is in-force.
• Client cannot apply for this option within initial contribution period.
• No commission will be clawed backed and no surrender charge will be applied to client account after Commission Clawback period.  (Updated 18 Nov 2015)

• Partial surrender may be taken subject to a minimum payment of USD750 / GBP500 / HKD6,250 / EUR675 / JPY100,000. (Updated: 21 May 2014)
• (Application signed on or after year 2006), minimum surrender value need to be remained in the policy after partial encashment:  USD1,500 / GBP1,000 / HKD12,495 / EUR1,350 / JPY200,000, you may also refer to Vision's Terms & Conditions for details.    (updated:22 Jan 2013)
• Client should receive money in bank account specified in the form within 3-4 weeks after date of submission.    (updated: 18 April, 2011)
• If the policy is held in trust, Utmost will require the trustee to countersign the surrender request form.  (updated: 18 April, 2011)

Checklist

1.    [For One-off withdrawal] A completed and duly signed Partial Surrender Request ([S2])

If the policy is in joint names, both signatures are required.OR

[For Regular withdrawal] A completed and duly signed Income Payment Request ([I7]) (updated: 18 Jan, 2016)

2.   CS eform

3.    A proof of bank account (i.e. copy of bank book or bank statement) will be required if paying into an account different to the Source of Premium account.

4.  Certified/ notarized coloured copy of Proof of Identity in high quality(Photo ID/ passport/s) – if the client is residing in Hong Kong, a high quality certified coloured copy of client’s HKID is also required. (Updated: 5 Jan 2021)

5.    Certified/ notarized coloured copy of Proof of Address in high quality (e.g. Utility bill or bank statement issued within the last 3 months) (Updated: 5 Jan 2021)

• For details, please refer to Utmost – Address Proof Requirement
• With Consultant printed full name and signature

  Utmost standard certification wordings

  Certification of Proof of Address “I hereby certify that this is a true first copy of the original document, which I have seen.” Signature of Certifier Name Position Firm Business address Date A Company stamp

  Certification of Proof of Address for E-statement “I hereby certify this is a true copy of an online statement/utility bill, which I have witnessed as being printed from the website of the services provider and/or which confirms an address that I have physically visited and where I have met with the relevant individual.” Signature of Certifier Name Position Firm Business address Date A Company stamp

6.    International Tax Compliance (ITC) Form - Individuals ([I5])  (if any)  OR

- For HK residents to fill in TIN number, kindly refer to the 稅務編號 on tax bill, which is a 10-digit number. (Updated: 18 Jan 2016)  [Sample of TIN Number] , if client could not provide the TIN number, please fill with HKID number and state the reason. (updated: 16 May 2016)

International Tax Compliance (ITC) Form - Entities ([I6]) (if any)

Payment Methods

1.    Crossed Cheque / Bank Draft

• Utmost do not issue cheque for Partial Encashment / Partial Surrender / Withdrawal.  (updated: 02 Nov 2007)

2.    Telegraphic Transfer  (updated: 18 April 2011)

• TT charge will be imposed by bank to clients designation account directly. Policyholder(s) need to provide full banking details including name and address of bank, account numbers and names held in, together with full the SWIFT address of the receiving bank.

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Utmost Customer Hotline：21536402