Top Up - Harvest 101 - Heng An Standard Life

Important Notice 
1. The initial period of the increased premium starts from when the regular premium amount is increased.

2. Premium holiday on the policy is only applicable after ICP of ALL regular and additional regular contribution has completed.

3. In the case of non-payment, where there are still additional regular contribution that not yet completed ICP, those additional regular contribution will be terminated subject to exit charge and cannot be reinstated.

4. Unless specified, the future fund allocation will remain unchanged.

5. The Contribution Payment Terms of any Additional Regular Contribution should not be less than 5 years and not exceed the Policy Maturity Date.

6.  Any Payment made in currencies other than the policy will be subjected to the exchange rates as determined by Heng An Standard Life.

7.  For old version of Harvest 101 product, the Contribution Payment Term (CPT) of the regular top-up cannot be greater than the CPT of the initial contribution.  (updated: 17 May, 2012)

•          For example: If a policy owner with premium HK1,000 and 10-year plan, he wants to have a top-up premium to HKD2,000 after 6 months, The terms of year of top-up  should select to 9 years, and the premium will return to HKD1,000 at the last 6 months of contribution term before the Contribution Payment Term ends.

8.  Top up premium under the original premium level (given client requested decrement before) will be regarded as resume previous contribution therefore no new Initial Period or commission will be paid.  (updated: 17 May 2012)

9.  All copies of original supporting documents submitted to Heng An Standard Life (Asia) Limited (SL) must be properly certified by suitable certifiers as set out in the Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance (i.e. authorized HK insurance broker, notary public). An acceptable certification should have the following features:  (updated: 17 May, 2012)

• The copy document is signed and dated by the suitable certifier;
• The certification statement should state that it is a true copy of the original (or words to similar effect);
• The certifier has clearly indicated his/her position or capacity on it; and
• The name of the person providing the certification must be clearly and legibly printed

10. The valid sign date of top up request on “Policy Alteration Form - Form A” is 1 month only. (updated: 19 Mar 2014)

11.  For Heng An Standard Life (Asia) Limited (SL), daily cut off time is HK business day before 3pm received by SL.

Checklist

OnePlatform Internal Form

1.  Client Data Form

2.  Client Agreement (CA Form)

3.  Financial Needs Analysis Form

• Heng An Standard Life only accepts total protection needs under 30% without further declaration
• Heng An Standard Life will reject application if total protection needs is over 50%
• Heng An Standard Life accepts total protection needs from 30% to </= 50%. But consultant has to declare on the FNA the following: Protection product has been recommended to the client and the client will consider  (product type, provider, and amount of protection equivalent to the outstanding protection needs  e.g. Term Life with AIA with sum insured of HK$ XXXX)

4. Risk Profile Questionnaire

5. Acknowledgement Letter of Specific Services Agreement for Investment-Linked Assurance Scheme Policies

 

Principal Document

You may refer to “IA Guidelines” for more information of GL26,27,29,30

1.  Change in Contribution Form (please kindly refer to Form [C3])

• Additional supporting documentation of source of wealth will be required if single top-up contribution is equal to or greater than USD1,000,000 (HKD8,000,000); OR if the additional regular contribution is equal to or greater than USD10,000 (HKD80,000) per month / USD120,000 (HKD960,000) per year.  Please refer to the Source Of Wealth Guideline) for details (updated: 17 May, 2012)

2.  Address proof is not required unless it is required by Heng An Standard Life, or OnePlatform has to conduct further verification with the client’s identity.  (Updated: 2 Nov 2018).

3.  Submit HK ID card / passport document copy* of the policy owner / beneficial owner / assignee(s) if it has not been submitted.

4.  When the residency for tax purposes is a country anywhere other than the Hong Kong, then Policy Owner(s) and Beneficial owner(s) will have to provide the name of country and the tax identification number.

5. For non-HK residence case, both the policy owner / assignee and the consultant are required to sign on the certified  true copy of the supporting documents.  (updated:  17 May, 2012)

6. Risk Profile Questionnaire (Please kindly refer to Form [R1]) - Required for application signed on/after 1 Jan 2016.

7.  Important Facts Statement and Applicant's Declarations (IFS and AD)

[Harvest 101] (Please kindly refer to Form [I2])

For Harvest Wealth (Please kindly refer to Form [I3])

According to HKFI’s Additional Frequently Asked Question, the best practice of proposing an ILAS product is when the customer indicates / chooses – Under Question 1 in Part I of the Important Facts Statement and Applicant’s Declarations (“IFS & AD”) The purpose as one of the following*:

• “Savings with minor life protection”, or
•  “Investment with minor life protection” (Updated: 13 Dec 2013)

* IFS & AD are not required for Harvest Supreme top-up.