FWD HONG KONG

Renewal Premium Payment Methods

Personal cheque
Autopay through bank / credit card accounts
Deposit to designated accounts through an ATM or at a bank counter¹
Remittance to designated accounts¹
PPS / Online payment²
Settle by cash, cheque or EPS through a personal visit to Customer Service Centre³

To protect the interest of clients, policy premiums must be paid by the policyholder or the insured. If the policyholder needs to designate a third-party to pay the premiums, a "Special Arrangement of Premium Payment Application Form" should be completed and submitted to FWD for approval.

Remarks:

The designated accounts are FWD's account in Bank of Communication. Please contact bank for details. Please send the original copy of the ATM customer notification or bank deposit slip to Customer Service Centre, 13/F, Devon House, Taikoo Place, 979 King’s Road, Quarry Bay, Hong Kong or fax to 2290 7091, and state clearly the policy number to which the payment is made.
Including PPS online payment service, or online payment services provided by respective banks (please check with respective banks for the arrangements).
The maximum is HK$20,000 per policy per day.(Accept Hong Kong currency only).

Payment Modes

Monthly⁴
Half-yearly
Yearly

Remarks:

Only autopay through bank/credit card accounts can be chosen for this payment mode, in which a completed "Direct Debit Authorization Form" must be submitted

By Cheque

Please make the crossed cheque payable to "FWD Life Insurance Company (Bermuda) Ltd" and deposit to FWD's account in Bank of Communications or submit it to FWD Customer Service Centre. Please state clearly the policy number to which the payment is made on the back of the cheque. It is recommended to use a separate cheque to pay each policy. When one cheque is issued to settle premium payments for more than one policy, please clearly state each policy number and the premium amount respectively.

By Autopay

Please return the completed "Direct Debit Authorization Form" to FWD, or call FWD's Customer Service Hotline at 3123 3123 for the required form. Since this method of payment requires two months to process, a pre-payment of two months premium is recommended in order to match the effective date of the autopay. Please note that autopay by credit card is not available for some plans. Please contact FWD if more information is needed.

By PPS

Please visit a nearby PPS Registration Terminal to set up an account. You can then register the premium bill and make payments by phone (call 18013 for bill registration and 18033 for bill payment) or by internet. The PPS Merchant Code for FWD is 9130. Clients need to settle their payments three days before the payment due date and keep a record of the successful transaction reference number. PPS can only be used to pay renewal premiums.

In Person

Clients can visit FWD's Customer Service Centre and settle premium payments by cash, cheque or EPS. The office hours of FWD's Customer Service Centre are 8:00am - 8:00pm, Monday to Saturday. It is recommended to settle payments by cheque or EPS. In cases of settling payments by cash, the maximum is HK$20,000 per policy per day.

Policy for Late Premium Payments

FWD will offer a grace period, 30 days from the payment due date, to keep the protection active. If premium remains unpaid when the grace period expires, the policy will lapse.

For policies with late premium payment that have accumulated cash value or dividends, in order to maintain the existing protection, FWD will automatically advance the premium due from the cash value of the policy as a loan after the grace period i.e. Automatic Premium Loan (APL). Interest will be charged for the APL and the rate varies according to the amount of the policy loan. The policy will eventually lapse if there is no longer any cash value or dividends in the policy.

Official Receipt

Upon receipt of a premium payment, FWD will issue an official receipt to the Policyholder (except for payments made by autopay). The receipt will be sealed and sent to the designated address of the related policy within a week (the mailing time will be longer for overseas clients).

Clients who make their payments by autopay can check their payment records on their annual statement or at FWD Online Interactive Service.