Important Notice
1. Requesting to decrease premium is only allowed for client who has already made 1st ICP contributions. No extra charge will be deducted from client account after ICP.
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For Premier, the ICP is 18 months.
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For Flexible Growth Plan, the ICP is 24 months.
2. May apply decrement during 2nd ICP, but commission and bonus will be clawed back. (updated: 18 April 2011)
3. After decreased, the minimum contribution:
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For Flexible Growth Plan is HKD2,000 or USD250
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For Premier is HKD1200 or USD150. (updated: 18 April 2011)
4. Documents need to be received by FPI at least 14 days ahead of the next payment date in order for sufficient processing time. Please allow at least 10 business days for BSO to be set up. (updated: 18 April 2011)
5. Please read the Summary of Scenario after decrease of premium.
6. For Premium Decrease on a case with a current DDA, no further payment form is required to be submitted.
Checklist
1. Request for premium policy contribution change ([R7])
2. CS eform
3. New method of payment (updated: 24 Apr 2012)
Payment Method
For details, please refer to FPI > Payment Method
1. Bank Standing Order (BSO)
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Two weeks advanced written notice of the client’s intention to increase the premium
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The amount filled in Standing Order Instruction should be the new investment amount i.e. decreased saving amount
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Banker's Standing Order ([B1])
2. Direct Debit
To switch from BSO or other payment method to DD, a minimum notice period of 10 working days is required. In the case of BSO, the client must cancel the instruction directly with the bank, and submit a duly completed DDA form to FPI’s HK Office.
Friends Provident Customer Hotline: 35506188