Important Notice
1. If the client would like to cancel the policy after the cooling-off period, please submit a written request to Zurich stating that the client wants to lapse the policy and the client understands that there is no value that the client can get back.
2. Refund for cancellation within cooling off period (updated: 19 July 2010)
- If the initial premium is paid by cheque, Zurich will refund the premium by cheque
- If the initial premium is paid by credit card, Zurich will refund the premium to the credit card account
Cooling off Period
The cooling-off period is a period during which life insurance policy owners may cancel their policies and get back their original investments (subject to any Market Level Adjustment) within the earlier of 21 days after the delivery of the policy or issue of a notice to you or your representative. Such notice should inform you of the availability of the policy and expiry date of the cooling off period. Please refer to the cooling-off initiative issued by Hong Kong.
Federation of Insurers from time to time for reference.
Please note the extra points:
The first date is already counted as Day 1.
Policyholder’s representative is OnePlatform.
Checklist
1. Cancellation Letter [Sample] for reference only.
2. Supplemental Document-Declaration for Data Protection for Zurich International Life Limited ([S5])
3. CS eform
4. If policy has been issued, please submit the whole set of original policy.
5. Inform client to cancel BSO with the bank directly. (If applicable)
Procedure
1. Request the client to cancel the Standing Order Instruction with the bank directly. If the policy is paid by DDA/Credit Card, Zurich will stop collecting the regular premium via clients’ HKD account and credit card once the cancellation request has been processed. (Please note that you can request to put the DDA/Credit Card on hold via service log or giving CSD a call in order to avoid further premium will be deducted.)
2. Hand in the cancellation documents directly to SOD service counter at before 5:30pm on normal business day.
Zurich Customer Hotline: 3405 7150 (for general enquiries ONLY)