Important Notice
1. Documents should be submitted to SOD within 26 calendar days after sign date of client.
2. For Vista 2, it allows the client to take maximum 24 months holiday.
3. For Vista 3, it allows the client to suspend the policy for a maximum 36 months consecutively.
4. Contribution Holiday (Vista 2) & Policy Suspension (VIsta 3) are allowed once the 1st ICP layer is completed. Hence, even if there is 2nd ICP layer has not been completed, contribution holiday is also allowed.
5. For Client using DDA payment, Client is not necessary to stop DDA instruction by himself/herself.
6. For Client using Credit Card payment, Client is not necessary to stop Credit Card payment instruction by himself/herself.
7. For Client Using Standing Order payment, Client is NEED to stop bank standing order by himself/herself.
8. Any bonus or Paid-up penalty are clawback when the policy is made paid-up or suspended, the respective bonus or paid-up panalty will not be paid back to the client even the policy is reinstated.
9. For Vista 3, if, at any point after the primary Initial Contribution Period (ICP) the client can stop paying premiums for up to three years (36 months consecutively) without penalty. You should note that while premiums are not being paid, the same charges will apply as when you were paying premium. If you have not restarted your regular premiums after three years, your policy will become dormant, the surrender charge will be applied to the policy and the value of the policy will be reduced to its surrender value. At this point the Expense recoupment charge will cease but all other charges will continue. If you have not restarted your regular premiums after three years and the policy does not have a surrender value, the policy will be lapsed.
Any cases with additional benefits will be ceases at the time of suspension as the policy will not sustain the benefit charges.
Please note that the free accidental death coverage on Vista 3 will be ceased due to suspension/lapse/dormant, it can not reactive when the policy is reinstated.
Checklist
1. For Vista 2:
Fill in Contribution / Premium Holiday Request form (HK00099) [P1]) (Sample)
For paid up, please submit a letter from client to Zurich request for "paid up the policy". In the letter, please state the effective month, policy no., name and HKID no. (updated: 11 Nov 2013)
For Vista 3:
Please submit a letter from client to Zurich request for "suspend the policy". In the letter, please state the effective month, policy no, name and HKID no.
Remarks for Vista 3 policy suspension - it was stated in the clauses 6.12, 6.13 and 7.4 in the Hong Kong Vista 3 Terms and Conditions, if the encashment value of the policy does not exceed Zero then the policy will lapse.
Client should not state the date to resume contribution in the letter. For resume contribution, client has to completed the reinstatement form and handle to CSD for further processing. Zurich will only rely on a new request by the time client would like to resume contribution. (updated: 15 August 2008)
Please call our CS hotline to hold the DDA if the holiday request is barely reach the next DDA Run.
For Pacific: (Updated: 6 Mar 2019)
Please submit written instruction (soft copy is acceptable) from client to Zurich request for the suspension of the policy.
The written instruction needs to include the following details:
-
- Client's Name (as shown on policy)
- Policy Number
- The date the client would like to stop the payment and start the policy suspension
- Client's signature & date of the letter written
2. CS eform
Zurich Customer Hotline: 3405 7150 (for general enquiries ONLY)