Important Notice
1. The amount of any Partial Withdrawal or Regular Withdrawal must not be less than the minimum amount of withdrawal
Currency Partial Surrender USD 250 HKD 2,000 GBP 166 EUR 250 JPY 32,500
2. An exit charge will be applied on the encashment if less than 50% of the contribution made to the account remains. The exit charge is calculated based on the value of policy encashed at the withdrawal date. The exit charge, in respect of each account, is 8.5% of relevant contribution by reducing 0.14166% each account month and then zero after 60 account months.
3. For joint ownership case, please indicate the payee’s name on the form.
4. Withdrawal can only either by Amount or by Percentage, while percentage must be a whole number
5. If requested by a whole amount, Heng An Standard Life will withdraw by proportion on current portfolio
6. If having switching / premium collection and other withdrawal transaction, withdrawal / surrender will be pending until the transaction completed
7. If requested withdrawal on specific fund, remember to check on whether the requested fund is still on the portfolio or not
8. If requested by amount, remember to check on the latest fund value before apply withdrawal, since Heng An Standard Life will reject the request if the existing fund value on rec’d date < requested fund value
9. For HKD & USD policies, the payout amount will be issued in cheque. No bank in cheque service.
10.Request payment by TT should bear the HK$300 admin charge and it will be deducted from withdrawal amount first, and bank information should be provided beforehand
11.All copies of original supporting documents submitted must be properly certified by suitable persons as set out in the Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance (updated: 26 Mar 2012)
Checklist
1. Policy Alteration Form - Form A (please kindly refer to Form [P1]) - Withdrawal Guide (Updated: 20 Dec 2018) Please provide all of requested personal information. Any incomplete personal information may result in a delay or rejection in processing your request. (Updated: 5 Jun 2024)
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Policy in forced for over 2 years can also withdraw client incentive bonus
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Minimum withdrawal amount =HK$2,000.00
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Minimum Policy Value after withdrawal = HK$20,000.00
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Remember to tick withdrawal on Initial Account / Accumulation Account, and state clear the Account no.(e.g. Accumulation Account no. 3)
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Make sure on whether the coverage will have incentive or not
2. HK ID card / passport document copy of the policy owner / beneficial owner / assignee(s) if it has not been submitted (Updated: 29 Jul 2013)
3. Address proof is not required unless it is required by Heng An Standard Life, or OnePlatform has to conduct further verification with the client’s identity. (Updated: 2 Nov 2018)
4. Complete and return separate "Self-Certification Form" (Please kindly refer to Form [S5] / [S6] / [S7]) when apply for Partial Withdrawal, Regular Withdrawal. (If applicable)
5. CS eform
Payment Methods
Amount payable on Partial Withdrawal will be made in policy currency. For policy currency = HKD or USD, the amount will be paid by cheque. Otherwise, the amount will be made in TT, which is subject to a charge of HKD300.
The amount payable under the partial surrender can be converted to other currency, but subject to the exchange rate as determined by Heng An Standard Life.
Heng An Standard Life Customer Hotline: 21690300