Cancellation - Heng An Standard Life

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Important Notice
1. If you submit cancellation letter after the cooling-off period, NB dept will not accept the letter.  You should ask the client to apply for policy surrender and 100% exit fee applied for 1st year of policy term. (updated: 17 May 2012)

2. Return of policy is required if reissuing of the policy is required after cooling off. (updated: 17 May 2012)

3. Transaction Processing (TAT): T + 15 working days (updated: 17 May 2012)

4. For cut off time, please refer to the Cut-off time table. For Heng An Standard Life (Asia) Limited (SL), daily cut off time is HK business day before 3pm received by SL. (updated: 17 May 2012)

5. 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:

  • 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

Cooling-off Period

Cooling-off period is a period during which life insurance policyholders may cancel their policies and get back their original investments (subject to market value adjustment) within the earlier of 21 days from the date of (a) delivery of the Policy or (b) issue of a notice informing you or your representative about the availability of the Policy and the expiry date of the cancellation rights described in the policy provision.  (updated: 17 May 2012)

Please note the extra points:

1. The first date is already counted as Day 1.

2.  Policyholder’s representative is OnePlatform.

3.  Please submit the whole set of policy document and cancellation letter to SOD in hand by 5:00 pm of each working day, one day prior to the end of cooling off deadline in order for document to be arrived at SL by 3pm the next working day.   (updated: 17 May 2012)

If you submit cancellation letter after the cooling-off period, SOD will not accept the letter and send it to Principal. You should ask the client to apply for policy surrender and 100% exit fee applied for 1st year of policy term.   (updated: 17 May 2012)

Checklist

Cancellation of New Application / Cancellation From Inception (within cooling off period)  (updated: 17 May 2012)

1. CS eform

2.  Addendum/Supplement to Application (please kindly refer to Form [A2]) OR

Cancellation Letter (please kindly refer to Form [C1])

  •   refund (less Market Value Adjustment, if any) will be paid to the client as per the original payment method as how the initial contribution was being made.

3.  If policy has been issued, please submit the whole set of original policy.

Cancellation of Policy (after Cooling-off period within ICP) (updated: 17 May 2012)

1.  CS eform

2.  Policy Alteration Form for Investment Plan – Form A (please kindly refer to Form [P1]) Please provide all of requested personal information. Any incomplete personal information may result in a delay or rejection in processing your request. (Updated: 5 Jun 2024)

  • The surrender value is the (bid) value of the units held less exit charge, if applicable.  For policy surrendered within the 1st policy year is 100% exit fee.  For exit fee table, please refer to the brochure of each particular SL product.

3.  If policy has been issued, please submit the whole set of original policy.
4.  HKID card/passport document copy of the policy owner/beneficial owner/assignee if it has not been submitted. 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:

  • 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

Heng An Standard Life Customer Hotline: 21690300

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