Important Notice
1. Even the policy owner can be changed; the original life assured cannot change after the policy start. Therefore, the life assured will not be changed even the change of ownership is completed.
2. Accept change of policy owner with insurable interest between life insured and new policy owner. For those change of policyowner request without insurable interest, CTF Life would be considered case by case basic. Further requirement / supplement information may be needed. (updated: 8 Nov 2011)
3. Unless new instruction of autopay arrangement is given, otherwise, the current autopay arrangement for paying premium, if any, under the policy remains unchanged after the change of ownership. (Updated: 12 Oct 2015)
4. If the new Policy Owner is a Business Association, apart from the Change of Ownership Form, the new Policy Owner is also required to submit "Supplementary Statement for the Business Association Applicant / Policy Owner" and a copy of supporting documents. For the full list of the required supporting documents, please refer to the "Guidelines on Anti-Money Laundering & Counter-Terrorist Financing for New Business". (Updated: 12 Oct 2015)
5. Form should be submitted within 26 calendar days to OnePlatform.
Checklist
Change of Ownership
1. CS eform [from the assignee]
2. Change of Ownership Form ([C3])
- Please completed and signed both by the existing policy owner and the new policy owner. Also, please complete the relationship between the Insured and the new Policy Owner as well as the original Policy Owner, reason of change of ownership and Source of Funds/Wealth/Income.
- Broker Code: 9116-9116000-0371599 (for Columbus only)
- Broder Code: 9419-9419000-0371645
3. Certified HKID copy of new policyholder
- Please mark "Copy" and state certifier's PIBA no. on every page [This is exclusively required by CTF Life and not applicable to other principal]
- Must be signed by client with date of sign
4. A valid entry proof (in case the new policyholder is a non-HK resident)
5. Client Agreement (CA form) (from the assignee) (updated: 11 Feb 2011)
6. Important Facts Statement for Mainlander Policyholder(IFS-MP) ([I8]) (if necessary)
** If the policy is changed to the person without insurable interest, it will be considered on case-by-case basis.
*** Unless new instruction of autopay arrangement is given, otherwise, the current autopay arrangement for paying premium, if any, under the policy remains unchanged after the change of ownership.
7. With effect from 29 February 2024, a valid address proof issued within last 3 months must be submitted (Do not accept e-Statement). For detail requirements and example of valid address proof, please refer to the MEMO and FAQ. (Updated: 10 Jul 2024)
8. Risk Profile Questionnaire [R3] （ For assignee）(Updated: 15 Sep 2020)
Policy Assignment – Collateral Assignment
1. CS eform
2. Change of Ownership Form ([C3])
- Please completed and signed both by the existing policy owner and the new policy owner. Also, please complete the relationship between the Insured and the new Policy Owner as well as the original Policy Owner, reason of change of ownership and Source of Funds/Wealth/Income.
- Broker Code: 9116-9116000-0371599 (for Columbus only)
- Broder Code: 9419-9419000-0371645
3. Certified HKID copy
Please mark "Copy" and state certifier's PIBA no. on every page [This is exclusively required by CTF Life and not applicable to other principal] Must be signed by client with date of sign
4. A valid entry proof (in case the new policyholder is a non-HK resident)
5. Client Agreement (CA form) (from the assignee) (updated: 11 Feb 2011)
6. Proof of loan
7. Important Facts Statement for Mainlander Policyholder(IFS-MP) ([I8]) (if necessary)
** Should have insurable interest between Assignee and Policy Owner / Insured
*** If the policy is assigned to the person without insurable interest, it will be considered on case-by-case basis.
8. With effect from 29 February 2024, a valid address proof issued within last 3 months must be submitted (Do not accept e-Statement). For detail requirements and example of valid address proof, please refer to the MEMO and FAQ. (Updated: 10 Jul 2024)
9. Risk Profile Questionnaire [R3] (For assignee) (Updated: 15 Sep 2020)
PRC new policy owner (8 Nov 2011)
Additional required document:
1. PRC Passport / Entry Proof copy (all pages) (Please add "Copy" on every page) (Updated: 29 Nov 2011)
2. Certified China ID copy (Please add "Copy" on every page) (Updated: 29 Nov 2011)
(Please mark "Copy" and state certifier's PIBA no. on every page) [This is exclusively required by CTF Life and not applicable to other principal]
Must be signed by client with date of sign.
3. The request for "Change of Ownership" should be signed at Hong Kong within 1 year affter policy issued. (Updated: 11 Jan 2024)
4. For residents of Mainland China who are holding the Electronic EEP are required to complete on-site verification process. For MSV details, please kindly refer to Mainland Sales Verification-OnePlatform
5. Important Facts Statement for Mainlander Policyholder(IFS-MP) - Applicable for Traditional & ILAS product ([I8])
*The "Important Facts Statement – Mainlanders" (IFS-MP) must be provided upon the submission of all insurance applications starting from 1st September 2016 (Effective Date), please refer to appendix for details.
Please be reminded that CTF Life only accept change the new policy holder to the person who has insurable interest with old policy holder. Please refer to below table for reference. (Updated: 28 June 2017)
6. New DDA (if necessary)
7. Self-Certification Form – Individual (if necessary) ([S11])
8. W9 / W8-Ben (if hit US indicia) – Please download from https://www.irs.gov.
9 .Risk Profile Questionnaire [R3]（ For assignee）(Updated: 15 Sep 2020)
Overseas new policy owner (Updated: 12 Oct 2015)
Country of Iran & Democratic People’s Republic of Korea will not be accepted.
Additional required document:
1. Passport copy with personal information
(Please mark "Copy" and state certifier's PIBA no. on every page) [This is exclusively required by CTF Life and not applicable to other principal]
Must be signed by client with date of sign
2. The request for Change of Ownership should sign at Hong Kong
3. The new Policy Owner provide valid entry proof also
CTF Life Customer Hotline: 28668898