Important Notice
1. Please refer to Policy Aministration Manual section 2.6 for details and updated requirement. (updated: 24 Apr 2013)
2. Payment Collection (Updated: 27 April 2011)
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Upon autopay collection failing for the first time, a second attempt will be made on the next autopay collection date.
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The premium collection amount for the 1st and 2nd collection will be the same, that is 1 modal premium.
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If the second attempt is also unsuccessful, a final attempt will be made on the next autopay collection date.
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The premium collection amount for the final attempt will be 2 modal premiums, that is, double lodgment (for monthly mode cases) or 1 modal premium (for non-monthly mode cases).
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If the final attempt is still unsuccessful, no further autopay collection will be arranged.
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Then, clients will receive Rejected Autopay Notification and will be required to submit due premiums ASAP in order to prevent policies from lapsing. If the DDA is rejected by bank (as specified in the notice), clients will be requested to sign a new DDA form and also submit 2 modal premiums or 1 modal premiums (for non-monthly mode cases)
3. Payment Slip (G04) must be submitted together with payments except the special situation.
Checklist
1. Cheque payable to YF Life Insurance International Ltd. with outstanding payment amount.
The cheque must be issued from your own client account or bank original receipt of cashier debit.
More payment methods, please refer to Payment Method
2. Declaration of Individual Tax Residence (POS-G03CRS) Chi Version / Eng version([D4]) -If applicable and subject to principal
3. Payment Method
- Payment Slip (G04) ([P1]) - Must be submitted together with payments
- Premium Payment Declaration Form (G86) – If cash payments >= HKD 60,000 / USD 7,500 (including Cash Deposit, Cash payments at YF Cashier Counter, Bank Counter Services)
Consultant Code
- For PRC Policy – Consultant’s Individual TR Code
- For HK Policy – LY455 or Consultant’s Individual TR Code
Reminder:
- LY455 is a company code which cannot be used for PRC policy, please use the individual TR code of the servicing consultant instead.
- If you want to apply individual TR code, please contact service log for details.
4. CS eform
Procedure of handling outstanding premium
Cheque payable to "YF Life Insurance International Ltd." with outstanding payment amount. The cheque must be issued from your own client account. Please also write down client full name, policy number, your staff code and YF Life missing payment on the back of cheque.
YF Life