Important Notice
1. All the form details must be filled in ENGLISH.
2. Assignor is the original policy owner and assignee is the new policy owner.
3. Life insured cannot be changed.
4. Please request the assignor to pass the original policy document to the assignee.
5. It takes around two weeks for Zurich to process.
6. The plan term for Assignment is the Remaining term (in terms of months) of the policy. The no. of Remaining months can be calculated by Remaining Term Calculator.
7. When the client applies for an assignment and the policy is opt-in for the DPMS service, DPMS will be removed once the assignment is completed. After the assignment, if the new policy owner intends to opt-in for the DPMS service, please submit a newly signed DPMS opt-in form signe by the new owner. (Updated: 25 Nov 2015)
8. The submission of assignment request form should be within 1 month from signed date once received by principal. (Updated: 20 Apr 2017)
9. Illustration is not required for change of policy owner unless there is change of benefit/ life cover e.g. Futura. (Updated: 2 Feb 2018)
Checklist
1. CS eform [from the assignee]
2. Deed of Assignment (HK00005) ([D1])
3. Origin of wealth guidelines and questionnaire (HK00143) ([O1]) (from Assignee) - Client NO NEED to submit the Origin of Wealth Guidelines if the payer has not been changed.
*** With effect from 1 March 2013, the country category for China on origin of wealth guideline has been changed from 3 to 2. Besides, Zurich can only accept an original bank statement as documentary evidence of the declared origin of wealth.
For OnePlatform, there is an enhanced Origin of Wealth procedures that Zurich accepts letter from employer in China as a proof of income if the annualized premium is between USD 50,001 to USD 100,000 while Zurich remain to only accept an original bank statement as a proof of income for an annualized premium above USD 100,000.
The change will apply to applications signed on or after 1 June 2013. For any pending business where Zurich has requested additional documentary evidence on origin of wealth, Zurich will not proceed without that being received.
Documentary evidence of the declared origin of wealth will not be required if a lump sum investment or an annualised regular premium is below USD500,000 and USD50,000 respectively. This change will apply for customers who reside in China and business is negotiated through a Hong Kong distributor. *** (Updated: 5 Jun 2013)
4. Certified Residential Address Proof (It is request to submit the address proof for assignee and assignor if it is not submitted to Zurich before) (Updated: 28 Feb 2018)
Client needs to fulfill both principal and OWM address proof requirement, for details, please refer to:
OWM address proof requirement AND Zurich - Address Proof Requirement
If the certifier is the relative of the policyowner assignor or assignee or the life insured. Please have another consultant to certify the document. (updated 13 Nov 2008)
If the surname of client is same as the consultant, a declaration of non-relative relation should be made on the certified true copy. (updated: 22 April 2009)
5. Certified HKID copy (It is request to submit the identity proof for assignee and assignor if it is not submitted to Zurich before) (Updated: 28 Feb 2018)
- For customers residing in Hong Kong but not holding a permanent Hong Kong Identity Card, both
(1) suitably certified true copies of the originals of the passport (pages bearing photo, signature and the entry chop)
If client is unable to provide either one of the suitably certified true copies of the originals of the full passport and national identification card, the client can provide the following to provide their nationalities: (Updated: 6 Jun 2012)
- Original of the client's signed declaration- state the reason why the client is not able to provide national ID nor Chinese passport (which are the primary document for verification); plus
- A valid Permit for Proceeding to Hong Kong and Macao (commonly know as 'One-way Permit') <前往港澳通行証>(慣稱「單程通行證」) or
- A valid Document of Identity 《簽證身份書》(commonly know as "DI") for visa purpose.
AND,
(2) Non-permanent Hong Kong Identity card bearing photograph are needed.
6. Method of payment form (if applicable)
7. Client Agreement (CA form)
Extra Documents
1. If the policy is in Paid-up / Suspended / Dormant status and the new policyowner would like to resume the contribution, you have to fill in Reinstatement Request form ([R1]) (from the assignee) (Updated: 22 Jun 2011) "Section 3 - Your investment strategy" is applicable for reinstatement from lapse only. Those policy reinstatements from paid up, suspended or dormant are NOT required to complete the section 3.
2. Cheque: Check with CS whether the assigned policy has any outstanding payment. If there is outstanding payment, the assignee should prepare a named cheque with outstanding amount and payable to Zurich International Life Limited in policy currency. (pay from the assignees bank account)
To ensure timely premiums payment by cheque, kindly remind and make sure your customers write the ONLY correct payee name in full, which is: Zurich International Life Limited. Please note that any Chinese payee names are NOT acceptable. If the payee name is abbreviated or incomplete, it may defer your customers’ premium payment and affect their policies. (updated: 18 Jul 2013)
Assignment for PRC residents – Application should be submitted to Zurich within 1 month after signed. Please submit to SOD at least 2 working days before Zurich’s deadline. (Updated: 22 Sept 2017)
If the assignor or assignee is PRC residents, the following documents are required: (Updated: 4 Jul 2012)
Entry Proof and the PRC disclaimer are required for an assignment for PRC residents.
1. Deed of Assignment (HK00005) ([D1]) - Signed by assignor, assignee and witness in Hong Kong.
2. Suitably Certified ID/Passport copy for both assignor and assignee.
3. Original Proof of Address for both assignor and assignee (Updated: 17 Jan 2014)
Both clients need to fulfill both principal and OWM address proof requirement, for details, please refer to:
OWM address proof requirement AND Zurich Address Proof Requirement please refer to the below:
(i) Original Utilities Bills or
(ii) Original Credit Card statement / Bank statement or
(iii) Certified copy of the Driving License or
(iv) Certified copy of Chinese Alien Employment Permit
4. Entry proof of both assignee and assignor.
5. Declaration for residents of mainland China ([D3]) by new assignee.
6. Declaration for intermediaries in relation to business conducted with residents of mainland China ([D2]) by the consultant.
7. Origin of wealth guidelines and questionnaire (HK00143) ([O1]) completed by assignee/payor.
*** With effect from 1 March 2013, the country category for China on origin of wealth guideline has been changed from 3 to 2. Besides, Zurich can only accept an original bank statement as documentary evidence of the declared origin of wealth.
For OnePlatform, there is an enhanced Origin of Wealth procedures that Zurich accepts letter from employer in China as a proof of income if the annualized premium is between USD 50,001 to USD 100,000 while Zurich remain to only accept an original bank statement as a proof of income for an annualized premium above USD 100,000.
The change will apply to applications signed on or after 1 June 2013. For any pending business where Zurich has requested additional documentary evidence on origin of wealth, Zurich will not proceed without that being received.
Documentary evidence of the declared origin of wealth will not be required if a lump sum investment or an annualised regular premium is below USD500,000 and USD50,000 respectively. This change will apply for customers who reside in China and business is negotiated through a Hong Kong distributor. *** (Updated: 5 Jun 2013)
8. New Method of payment form (if applicable).
9. Client Agreement (CA form)
10. CS eform
11. Important facts statement for Mainland Policyholder (IFS-MP) ([I15]) – required for the assignee (new policyowner) if he/she is from mainland China (Updated: 2 Jul 2019)
Assignment for corporate (Updated: 3 April 2014)
Further to the above requirements, additional documents would be required if the client assigning the policy to a company.
Please refer to the "Guide to understanding Zurich International Life's anti-money laundering requirements" for the list of
additional documents required in company case.
Payment Methods
For security reason, do not copy and send the back page of credit card to SOD/Zurich. (Updated: 6 Dec 2013)
If the assignee want to use
1. Direct Debit
Fill in Method of Payment Form ([M2])
2. Credit Card
Fill in Method of Payment Form ([M2])
3. Standing order
Zurich only accepts Bank Standing Order instruction from Hang Seng Bank and HSBC.
Please complete the Bank’s own Bank Standing Instruction Form.
Zurich Customer Hotline: 3405 7150 (for general enquiries ONLY)