Assignment - Heng An Standard Life

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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. Insurable interest must exists for assignment of offshore cases within the first 24 months of policy. (Relationship proof required).

4. All copies of original supporting documents must be properly certified by suitable certifiers

(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

5.  For PRC case, both the assignee and the consultant are required to sign on the certified true copy of the supporting documents.

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. For Assignment requests, valid sign date on the form is 30 days for Hong Kong customers and 90 days for offshore customers when principal received the documents. (Updated: 20 Apr 2017)

Checklist

(OnePlatform Internal Document and Principal Document are required to be submitted)

OnePlatform Internal Document

1.  CS eform [from the assignee]

2.  Client Agreement (CA form) [from the Assignee]

3.  Risk Profile Questionnaire (Please refer to Form [R1]) (Updated: 27 Jan 2016)

Principal Document

1.  Standard Life - Absolute Assignments Form (please kindly refer to Form [A1])

       Please complete and duly signed by assignor(s), assignee(s) and witness

       The final section in the Absolute Assignment form should be left blanked (to be completed by Standard Life)

2.    Certified true copy of Identity proof (please refer to the Important Notice above for proper certification process).

  • All Assignment requests standard life will require the original certified HK ID/passport copy for both the assignor(s) and assignee(s).
Types of Individual Acceptable identity proof
HK permanent resident HK ID Card
HK non-permanent resident HK ID Card and one of the following:
(1) Valid travel document
(2) Relevant national ID card bearing the photograph of the individual;
(3) Any government/ state issued document which certifies nationality
Non – HK resident Valid travel document; or
National ID card bearing the photograph of the individual; or
Current valid national driving license incorporating photographic evidence of the ID of the applicant/policy owner, issued by a competent national/ state authority
* Note: International drivers permits and licenses are not acceptable for ID verification purpose

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

4.  Relationship Proof (for offshore case within the first 24 months)

5.  New Recurring Payment Instruction [from Assignee] (see payment methods below) (If applicable)

6.  Policy Alteration Form – Form B (please kindly refer to Form [P2]) To be completed and signed by the policy owner(s) / assignee(s) if contribution holiday was previously applied by the assignor(s), while the new policy owner(s) / assignee(s) currently would like to resume paying contribution or confirm to continue contribution holiday. (Updated: 09 Jul 2019).

Remarks

  • Additional information/documentation may be required and subject to Underwriting Approval.  (updated: 18 April 2011)
  • The beneficiary of the policy remains unchanged after assignment. Assignee should refer to checklist point 12 above to update the beneficiary information if deem necessary    (Updated: 03 Dec, 2012)          
  • Previous recurring payment in assignor’s name will be terminated.  (updated: 16 Nov 2011)
  • The life assured will not change even after completion of the assignment
  • When the residency for tax purposes is a country anywhere other than the Hong Kong, then Policy Owner(s), Beneficial owner(s) and Beneficiary(ies) will have to provide the name of country and the tax identification number (A Tax Identification Number (TIN) is the number used by a tax authority as a specific tax reference number to identify an individual or an entity. Different terms may apply to different countries.)

7. Important Facts Statement for Mainland Policyholders (IFS-MP) form (please kindly refer to Form [I7])

- Required for the new policyholder is a holder of Resident Identity Card (PRC)

Remarks:

  • Effective from 1 Sept 2016, per OCI require that when there is a change of policy ownership and the new policyholder is a holder of Resident Identity Card (PRC), the IFS-MP is required to be signed in Hong Kong if the application for change of policy ownership is within one year from the earliest of policy issue date or policy commencement date ("one-year rule"). However, this one-year rule can be exempt if the new policyholder is a direct family member (i.e. parent, spouse and children) of the existing policy owner. Documentary proof is required in this regard (declaration by customer alone is not acceptable).

Additional information/documentation may be required and subject to Underwriting Approval.  (updated: 18 April 2011)

8. For changing from HK person to PRC person, the Addendum/Supplement to Application Form (please kindly refer to Form [A2]) with reason of such change is required, and assignment application must be submitted within 60 days of signing the request.  (Updated: 15 Mar 2018)

9. Self-Certification Form - Individual (please kindly refer to Form [S5])  A separate form to be completed by assignee. (Updated: 09 Jul 2019)

10. Important Facts Statement and Applicant’s Declarations (IFS and AD)

(Updated: 20 Dec 2021)

Payment Methods

Please settle all outstanding premiums before the setup of new recurring payment method

1.    Direct Debit Authorization:

  • HKD only
  • Complete the Direct Debit Authorization form

2.    Standing Order:

  • HKD, USD, GBP, EUR, JPY
  • Complete Standing Instruction Form if bank account is with HSBC or SCB;
  • For other banks, please complete the Standing Instruction Form provided by the bank.

3.    Credit Card:

  • HKD, USD
  • Visa or Master only
  • 1% handling charges applies
  • Complete the Credit Card Payment Instruction Form for Recurring Payment
  • The credit card expiry date must be over 3 months
  • Attach copy of credit card if the total payment amount is over HKD 39,000 or USD 5,000
  • If the total payment is over HKD 39,000 or USD 5,000 and the card is with the China UnionPay logo, please submit the payment by other method in accordance with the State Administration of Foreign Exchange on Regulating the Administration over Bank Cards in Foreign Currency Bank Cards (國家外匯管理局關於規範銀行外幣卡管理的通知).

4.  Third party payment is acceptable where the premiums are funded by:

  • Spouse
  • Daughter / Son
  • Father / Mother

Required documents:

  • Third Party Payment Declaration Form (please kindly refer to Form [T1])
  • Relationship confirmation, one of the following:
    • Certified true copy of Family Relationship proof document
    • "Addendum to Application" signed by policy owners and the third party payer and endorsed by the broker confirming the relationship between policy owners and the third party payer.
  • Certified true copy of Identification document of the payer
  • New Payment Method Authorization form signed by the payer

* Note: Additional Source of Wealth documentation may be required if it’s over the premium limits as stated in Source of Wealth Guidelines

Heng An Standard Life Customer Hotline: 21690300

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