Important Notice
1. The form must be returned to SOD 2 business days before the deadline for submitting to FPI.
2. All the form details must be filled in ENGLISH.
3. Assignor is the original policy owner, and assignee is the new policy owner.
4. There is no specific rule that states that the policy must be assigned to a person with insurable interest. (However, FPI will ask for the relationship between the assignor and assignee and it is unlikely a policyholder will just assign the policy to a random person on the street)
5. If the assignee is existing consultant, FPI reserves the right to acquire further information should FPI deem necessary.
6. If client wants to change the life insured during assignment, there is a checkbox on the assignment form itself if the new assignee(s) is to be the new life assured. If so, please check the box. If not, please prepare a signed confirmation (signed by new assignee) of who the new life assured is to be and provide the certified true ID of the new life assured.
7. 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
8. No entry proof is required for overseas assignee.
9. Where a document submitted is not written in English, we require the certifier to explain on the document:
- What the document is
- Indicate where the applicant’s name and address is printed
- The certifier should also write a statement onto the document to the effect that:
Translation wording: ‘I certify that the English translation provided is a true translation of the relevant part(s) of this document: Signed: (the signature of the independent financial adviser)
Name: (the printed name of the independent financial adviser)
Date: (the date the independent financial adviser has certified the copy document)
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 |
Principal Document
1. Assignment of A Life Policy ([A4])
2. Certified Address Proof [assignee] (Updated: 31 Jul 2020)
-
Client needs to fulfill both principal and OWM address proof requirement.
-
For details, please refer to: OWM address proof requirement AND FPI - Address Proof Requirement
-
Certified with consultant printed full name, signature and date
-
Chinese document needs English translation
3. Certified ID copy [assignee] (Updated: 31 Jul 2020)
-
For HK Non-permanent residents, the required documents to verify identity is a valid travel document
-
With signature of consultant, printed full name of consultant
4. Letter to Show the amount of monetary exchange ([L9])
[If there is monetary exchange for the assignment];
If NOT, Letter to show the reason of no monetary exchange ([L10]) is required.
-
Please confirm the life assured is to be changed to the assignee in the letter.
5. Request for premium policy contribution change ([R7]) [from Assignee) [For "paid up" policy] OR
client wish to remain the plan as "paid-up", assignee can sign a letter instruction to FPI given that the assignment package is
submitted along with the new letter. Actually, "Paid up" policy can be assigned (no need to reinstate)
6. Important Facts Statement for Mainland Policyholder ([I8])
7. Self-certification form - Declaration for an individual ([S7])
Payment Method
For details, please refer tp FPI > Payment Method
-
If client submit the BSO to the bank directly, please certify the receipt by consultant
-
To switch from BSO or other payment method to DD, a minimum notice period of 10 working days is required. In the case of BSO, the client must cancel the instruction directly with the bank, and submit a duly completed DDA form to FPI’s HK Office.
Special Cases
1. If the policy is paid up already, you have to fill in Letter to request the reinstatement [from the assignee].
2. If there is outstanding payment, cheque with the outstanding premium which is payable to "Friends Provident International Limited" should be enclosed.
3. Check with CS whether the assigned policy has any outstanding payment. If there is outstanding payment, the assignee should prepare a cheque with outstanding amount and payable to Friends Provident International Ltd in policy currency. (pay from the assignees bank account)
4. For requirements to assign to a company of trust, please refer to FPI.
Friends Provident Customer Hotline: 35506188