How to pay for your life insurance

Here’s how to setup bank account autopay authorization:

• Contact your financial consultant, or

• Download, complete and submit the direct debit authorization form

  • Bank Account Direct Debit Authorization Form (Only applicable to HKD/MOP Account set up in Bank of China Macau Branch or Bank of China (Macau))

The signature on the “Direct Debit Authorization Form” should match with your specimen signature in our records. Please send the form to us by mail to set up autopay.

In addition, please include a crossed cheque made payable to “Prudential Hong Kong Limited” for 1 payment installment in advance, as it takes 21 days to set up the direct debit authorization.

On the back of the cheque, please write

1. Name of the Policyowner

2. Policy Number/ Billing Number

3. Purpose of the Payment

4. Contact Number

Please send the form and the cheque to us by mail for processing (Address: P.O. Box 3093, General Post Office, Macau).

The transaction amount will be calculated in HKD equivalent at the prevailing exchange rate on 3 business days  (including Saturday) prior to the direct debit date for non-HKD policies.  If the premium will be debited from your MOP bank account, your bank will convert the sum or sums to be transferred to the account of Prudential into HKD at a rate determined by the Bank. If the policy currency is HKD, the premium will be settled in HKD directly. If the policy currency is not HKD, the HKD amount will be converted to the policy currency at a rate determined by Prudential to for settlement.

You may make payment by telegraphic transfer in policy currency to the bank account in the corresponding currency. Local bank transfer is not accepted. Please allow at least seven working days for processing the premium payment. Please note that the following account numbers are only applicable to payments for policies issued in Macau:

1. Please remit the premium to the following bank account:

2. After remittance, please submit the “Notification for Telegraphic Transfer Payment and Local Telegraphic Transfer of Policy Premium” (“TT form”), original/ copy of TT remittance advices and other supporting documents (if applicable) via your financial consultant or submit the relevant form and documents to us directly. For details, please contact your financial consultant or call our customer service hotline.

Please note:

• Please check all remittance related information (such as account currency, account number, amount and etc.) to ensure the correctness of the information before remittance.

• You should bear any bank charges incurred by TT. The remittance amount should cover one installment of renewal premium / the balance of the initial premium and its bank charge. You should be aware that your own country’s exchange control policy may impose a ceiling amount on remittance.

• HKD policies only accept HKD payment. For non-HKD policies, payments can be made in either the policy currency or HKD. You should ensure your premium payment are sent to the correct bank account above in respective currency acceptable to the policy. If the TT remittance is not in the correct currency, our bank may still accept your TT remittance and perform the foreign exchange conversion automatically according to the prevailing exchange rates as determined by the bank. Our company will not bear the exchange rate risk and the bank charges involved.

• Please avoid submitting duplicate TT Form including submitting more than one TT form for same payment at the same time.​ If you made multiple remittances of premium for the same policy, please submit form for each remittance separately.

• You must submit the TT form within 3 months after the remittance of premium payment. If no relevant documents are submitted before that, the remittance will be refunded automatically. All bank charges will be deducted from the refund amount.

The company would issue premium related notification according to the payment status of the policy, type of notification and issue date are as follows.  Policyholder should check eStatements regularly. If you do not receive the payment notice as scheduled, please contact your financial consultant or call our customer service hotline for enquiries.

Regardless of which method you use to hand in the cheque, these restrictions apply.

• Financial consultants cannot issue the cheques. Unless he / she is the proposer/policyowner, or the financial consultant is a direct relative to the proposer/policyholder and can provide a "Third Party Payment Declaration Form" duly signed by the payer and the Proposer / Policyowner / Life Assured.
• A cheque issued by a third-party is not acceptable. Unless the payee is a direct relative of the policyholder and can provide a "Third Party Payment Declaration Form" duly signed by the payer and the Proposer / Policyowner / Life Assured. If the cheque is over HK$200,000, the payee must also submit his / her copies of HKID, passport and visa support. If the third party payment is over HKD500,000, a copy of the relationship proof, such as marriage certificate / birth certificate / household register must be submitted to verify the relationship between the Third Party Payor and Proposer / Policyowner / Life Proposed / Life Assured.
• Companies cannot issue cheques unless the company is the policyholder.
• Dated cheques / one cheque to settle different policies under different policyholders’ names are also not acceptable.
• If the amount of the cashier order or bank draft is HKD 100,000 or above, relevant supporting documents for the source of funds must be provided (e.g. Bank receipt or bank endorsement on the back of the cashier order / bank draft showing the name of the purchaser of the cashier order / bank draft to confirm that the cashier order / bank draft was issued via the bank account of the Proposer / Policyowner / Life Assured). For any queries regarding supporting documents, please contact your financial consultant for assistance.

Any cheque should not be placed into the Drop In Box at the bank. If you've accidentally placed your payment into such a box, you're fully responsible to contact the related bank to get back the cheque.

In addition, if under one policy with 2 separate payment items, i.e. renewal premium and Loan repayment, customer is required to pay the related premium via 2 individual cheques. If for instance, a customer paid more than one item using only one cheque, system will not be able to split the payment by item. In this case, customers may suffer from subsequent loss due to delay in payment and customers may need to rectify the related issues later

You may pay premium by telegraphic transfer in policy currency to the bank account in the corresponding currency for AUD / CAD / GBP policies or other payment methods which accept HKD.

Yes. Yearly, Half-Yearly, Quarterly and Monthly payment mode are available for your convenience. Please contact your financial consultant or customer service representative for premium details and application procedures.

Notes: Monthly mode must be paid by Autopay.

The company accepts policyowner to pay advance premium up to the next anniversary plus 1 mode premium (subject to the policy payment mode). If the advance premium is sufficient to settle the premium to the next anniversary, the payment will be used to update the policy paid-to-date automatically.

In case the remaining payment term of the policy is shorter than the period to next anniversary plus 1 mode, then the company would only accept policyowner to pay the total premium payable of remaining payment term.

(Not applicable to specific promotion plan)

According to the Policy terms and conditions, grace period is one calendar month from premium due date. To ensure your protection, please settle the premium within grace period and allow 3 working days for payment processing.

Yes. Bank account owned by designated group of third parties (i.e. spouse/ parent/ child/ sibling/ grandparent/ legal guardian/ company solely owned by the Policyowner or Life Assured (please provide a copy of Business Registration Certificate or Certificate of Incorporation and Annual Return) ) of the Policyowner/ Life Assured are acceptable.

Our Company will issue payment receipt to the policyowner upon receipt of the premium, except premium payment paid via autopay. If payment was made at cashier in person, an official receipt will be issued to Proposer / Policyowner  / Life Assured and a payment acknowledgement receipt will be issued to third party payor after payment. If customer used other payment methods or payment was made by third party, an official receipt will be issued once the payment is verified. Customer can view and download the receipt on PRUServices (Macau).

PRUServices

• Log in to your Pulse (Macau) account and select “PRUServices” in the main page. After the verification code is input and the relevant disclaimers are agreed, choose the policy to be viewed. Then click “Policy Documents” on the menu to view the payment receipt. The format of the receipt file name is "Payment-Receipt(Day)-(Month)-(Year).pdf".

The temporary insurance – Death by Accident Cover will commence from the issue date of the Official Receipt, subject to related terms and conditions. Please read the details of accidental death cover in pruhk.co/accidental-death-cover-mac.

Please visit Premium Exchange Rates to view the latest foreign exchange rates and calculate the HKD equivalent for your premium payment.

Only accepts payment in MOP via credit card and cash at cashier. Please visit Premium Exchange Rates for our prevailing exchange rate in different currencies