Important Notice
1. Most documents should be submitted within 26 calendar days after sign date of client.
2. If the client applies for this option within initial contribution period, commission will be clawed backed proportionally and surrender charge will be applied to client account.
3. If the client applies for this option after initial contribution period, no commission will be clawed backed but surrender charge will be applied to client account.
4. If the client chooses to be paid by bankers draft or telegraphic transfer, bank charges will be deducted from the surrender value of the policy by the client's financial institution.
5. Before filling the "Full or partial encashment form", consultant can check surrender value via ZIO (Updated: 19 May 2015) However, maximum partial surrendervalue will not be available if there is a pending transaction.(Updated: 4 Nov 2015)
6. For Vista 3, if surrender within ICP, the surrender value must be zero.(update: 6 Jan 2009)
7. In order to speed up the processing of full surrender request, Zurich has revised their procedure that if a claim request results in a high surrender penalty, they will now proceed with the request and will no longer write to the client or broker to inform them or to clarify the high surrender penalty. Please be reminded that their Business Retention Team continue to call the client and explain the surrender penalty and alternative options in order to save the business as usual. They also trust that our consultant explains the surrender penalty accordingly before the submission. (updated: 1 Aug 2013)
8. Effective from September 16, 2018, Zurich accepts scanned encashment requests (Partial surrender/full surrender and maturity forms) from customer’s registered email address and the details are as follows: (Updated: 28 Sep 2018)
- Zurich would accept a scanned encashment request received from customer’s registered email address.
- Joint owners can send the encashment request from either of their registered email addresses.
- To prevent duplicate request, it is not necessary to send the original form to Zurich.
- Scanned encashment request should be emailed to [email protected].
Checklist
1. Encashment Surrender Form For Regular Premium ([E2])
Client is NOT required to return the policy document to Zurich when applying for a full surrender. Policy document has to be returned when client applying for a policy loan. Client can ignore and not to tick the options of "I have enclosed my original documents" & "I have completed the lost plan indemnity section" on the full or partial encashment form. (Updated: 28 Aug 2015)
Before filling the form, please check the full surrender value of the policy via ZIO directly.
The residential address written on page 2 must be the same as the existing record in Zurich. If the residential address has changed and it is different from our existing record, please also submit an address proof in order for Zurich to fulfill the AML requirement. (Updated: 4 Nov 2015)
For Vista III, if surrender within ICP, the surrender value must be zero.
2. Encashment Surrender Form For Single Premium ([E3])
Client is NOT required to return the policy document to Zurich when applying for a full surrender. Policy document has to be returned when client applying for a policy loan. Client can ignore and not to tick the options of "I have enclosed my original documents" & "I have completed the lost plan indemnity section" on the claim form (for EIB and IWA). (Updated: 28 Aug 2015)
On page 2 and 3 of the above Claim Form, please pay attention to the followings : (updated 24 Oct 08)
- Option A - It is a full surrender for EIB and IWA
- Option B - It is a full surrender NOT applicable for HK
- Option C - - It is a partial Surrender options ACROSS ALL FUNDS for both EIB and IWA. Please write down a specific amount. (As the fund value is fluctuated daily, so the requested amount should not be too close to the maximum partial surrender value). If client asks for a maximum partial surrender, please write down "maximum" in the amount box.
- Option D – It is a partial surrender options from specific funds (IWA ONLY) Please write down a specific amount. (As the fund value is fluctuated daily, so the requested amount should not be too close to the maximum partial surrender value). If client asks for a maximum partial surrender, please write down "maximum" in the amount box. Please also write down the fund code, fund name and the % of withdrawal amount.
The residential address written on page 3 must be the same as the existing record in Zurich. If the residential address has changed and it is diferrent from our existing record, please also submit an address proof in order for Zurich to fulfill the AML requirement. (Updated: 3 Nov 2015)
3. CS eform
4. Certified residential address proof (Updated: 17 Jan 2014) (It is optional if submitted previously and it is still valid. It is also subject to Zurich’s record if it should be submitted again.) (Updated: 21 June 2017)
Client needs to fulfill both principal and OWM address proof requirement, for details, please refer to:
OWM address proof requirement AND Zurich - Address Proof Requirement.
With Consultant printed full name and signature
5. 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. (It is optional if submitted previously and it is still valid. It is also subject to Zurich’s record if it should be submitted again.)
With signature of consultant, printed full name of consultant
- For customers residing in Hong Kong but not holding a permanent Hong Kong Identity Card, both
(1) suitably certified true copies of the originals of the passport (pages bearing photo, signature and the entry chop)
If client unable to provide either one of the suitably certified true copies of the originals of the full passport and
national identification card, the client can provide the following to proof their nationalities: (Updated: 6 Jun 2012)
(a). Original of the client's signed declaration- state the reason why the client is not able to provide national ID nor
Chinese passport (which are the primary document for verification); plus
(b). a valid Permit for Proceeding to Hong Kong and Macao (commonly known as 'One-way Permit')
《前往港澳通行証》(慣稱「單程通行證」) or
(c). a valid Document of Identity 《簽證身份書》(commonly known as "DI") for visa purpose.
AND,
(2) Non-permanent Hong Kong Identity card bearing photograph are needed.
6. Inform client to cancel BSO with the bank directly. (If applicable)
Payment Methods
1. Autopay (Hong Kong dollars in Hong Kong Only)
2. Telegraphic Transfer (TT)
The client’s bank will deduct the TT charge from the payout amount. (Updated: 4 Nov 2015)
Zurich Customer Hotline: 3405 7150 (for general enquiries ONLY)