Important Notice
1. If the client applies for this option within ICP (initial contribution period), commission will be clawed back proportionally and surrender charge will be applied to client account. (commission will be clawed back on a pro-rata basis as well if this is done within the top-up ICP) (updated: 18 April 2011)
2. For Premier client, if surrender is made within 12 months, it will be 100% penalty.
3. If the client applies for this option after ICP (initial contribution period), no commission will be clawed back but surrender charge will be applied to client account.
4. The client has to cancel the bank standing order by himself/ herself. There may be bank charges incurred on refunding of excess payment. Please note that FPI will not be responsible for any charges that occur during the refund process. (Updated: 28 Oct 2015)
5. If the client chooses to be paid by telegraphic transfer, bank charges will be deducted from the surrender value of the policy.
6. For full surrender, please make sure the ‘Surrender Details’ section is completed and not the ‘Withdrawal details’ section. (updated: 6 March 2009)
7. Ensure that the ‘Early surrender or withdrawal’ section is completed if client is surrendering the policy within two years of the commencement date or taking a withdrawal of more than 30% of the total premium. (updated: 18 April 2011)
8. Please be aware that if client has invested in weekly or monthly dealing funds, there could be a delay in the sale of units, which should be considered when estimating the expected date of remittance.
9. The cut-off time to receive a surrender instruction is 4:30pm on a working day. Instruction received before the cut off time will be processed on the same day basis. (updated: 6 March 2009)
10. The completed form should be signed and sent to FPI no later than 14 days. (Updated: 16 Jul 2020)
11. Please note that FPI will only process Surrender/Withdrawal instruction when all required document is received. That is, originally signed Request for payment by Withdrawal/Surrender form, certified ID and address proof. (Updated: 28 Oct 2015)
Checklist
1. Request for withdrawal / surrender payment ([R3])
2. CS eform
3. Certified Address Proof
- For details, please refer to FPI - Address Proof Requirement
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Certified with consultant printed full name, signature date of certification and company stamp
- Chinese document needs English translation
4. Certified true copy of identity document of Policy Owner. For non-Hong Kong/Macau permanent resident, nationality proof/travel documents copy (e.g. passport copy) is also required.
Payment Method
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Friends Provident do not issue cheque payment.
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Telegraphic transfer (TT), bank will charge the TT charge to clients account.
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Client should receive money in bank account specified in the form within 3-4 weeks after date of submission.
FPI reserve the right to acquire additional information should or when they deem necessary
Friends Provident Customer Hotline: 35506188