Payment Method - BOC Life

Note: Initial premium / payment is NOT mandatory. The principal will issue pending for reminding of premium settlement after underwriting decision.

Exchange rate is available at BOC Life website https://www.boclife.com.hk/en/support/exchange-rates.html (Updated: 28 Apr 2022)

Please refer to Payment Guideline (Updated: 6 Dec 2023)

Payment Frequency (Updated: 11 Jan 2016)

2.     If premium is paid monthly, initial payment should be amounted to 3 months premium Initial Payment

Payment Methods

1.    Personal Cheque

• Cheque should be crossed and made payable to "中銀集團人壽保險有限公司"or "BOC Group Life Assurance Co. Ltd."

2.    Cashier's Order / Bank Draft (Bank receipt with payor's name is required)

3.    Credit Card payment ( It’s not accepted for 3 plans of Forever Glorious Universal Life Series, Forever Legacy Whole Life Plan and BOC Life Deferred Annuity (Fixed Term) for both initial and renewal premium. )  (Updated: 8 Jul 2019)

• Visa / American Express (AE) Card / Master
• Consultant should call Credit Card Centre to get authorization code and provide the card slip (碌咭紙). Please provide following information on the card slip:

a. The date that consultant get authorization code (at the field "date")

b. Policy number (at the field "Bill/Invoice No.")

c. Payment amount

d. Client’s credit card information, by the way of scratching client’s card against card slip (刮咭)

For more details, please refer to"信用咭繳付首期保費安排"  (Updated: 4 Jul 2019)

4.   Cash Deposit / Bank Transfer over BOC counter (Updated: 12 Apr 2019)

•  Cash deposit amount is limited to HKD120,000 per policy
•  BOC Life bank account information:

•  Original payment slip/receipt has to be submitted

•  Policy number has to be shown on the payment slip/receipt

5. Telegraphic Transfer
- Bank receipt with payor's name and bank account number is required
- Amount received by BOC Life would be net of ALL charges imposed on both remitter and recipient

6. Online Banking

7. PPS (Merchant Code: 9119) (Only applicable for renewal payment)

- Only applicable to premium payment in HKD

- Daily transaction amount is limited to HKD100, 000 (Please reserve 3 working days for the payment settlement)

8. JETCO ATM Transfer Merchant Code: 9370 (Only applicable for renewal payment)

- Only applicable to premium payment in HKD

- Daily transaction amount is limited to HKD100,000 (Please reserve 2 working days for the payment settlement)

If premium is paid monthly:

1.     DDA (compulsory set up)

Lumpsum Payment (E.g. Unscheduled Top Up premium) - For Wealth Conquer

1.     Personal Cheque

2.     Bank Draft

3.     Bank Transfer over the counter

4.     PPS (商戶編號:9119) (For sequential payment only)

General guideline on HKD to CNY exchange for cheque/ bank draft payment:

1.    For HKD deposit, please note that the exchange rate of HKD to CNY changes day by day.

Over-paid premium would be deposited in Future Premium deposit account. In case of shortfall, client should further deposit the outstanding amount.

2.   Exchange rate is available at BOC Life website https://www.boclife.com.hk/en/support/exchange-rates.html

Exchange rate should be fixed on the date BOCGL bank in the cheque.

For credit card payment, exchange rate would be fixed on the date that consultant get authorization code successfully. (Updated: 20 Nov 2015)

Third Party Payment

New requirements on premium payment paid by 3rd party (Updated: 08 Dec 2022)

Third Party Payment Declaration Form（[T1]）

** This guideline is applicable for general individual life application and can serve as quick reference only. For more details especially for large sum insured application / key man insurance / partnership insurance / financial underwriting requirements, please refer to the Operational Manual. Approval of application is subject to the assessment of BOC Life Underwriting Department.

BOC Life Customer Hotline: 21608878
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