Body
Change of Payment Options
Servie Introduction
Change of Payment Options refers to the change of payment option of for policy value (i.e. Cash Coupons / Guaranteed Annuity Payment / Dividend). Payment option includes Cash Payment, Accumulation with Interest , or Premium Payment (not applicable to Qualifying Deferred Annuity Policy Payment).
If the policy has not yet registered a "Default Payment Account", when changing the payment method to "Cash Payment", "Default Payment Account" must be registered at the same time.
If the policy has not yet registered a "Default Payment Account", when changing the payment method to "Cash Payment", "Default Payment Account" must be registered at the same time.
Instant Online Application
Submit application using the OneService APP with just a few taps, quick, effortless,
save on mailing costs and processing time!
You can
also contact your agent to assist with your online application, just as fast and effortless!《Request for Change of Payment Options and Default Payment Account Form》
FAQs & Important NotesYes, the policy value withdrawal will be processed first, followed by the change of payment option.
If the policy has registered a "Default Payment Account", after the cash redemption of the policy value is approved, generally, the amount can be received in the "Default Payment Account" on the next working day.
No, once withdrawn, it cannot be reversed or undone.
Assigned policies, bankrupt policies, premium financing policies, policies that are not inforce, company policies and policies that are temporarily managed by the Interim Policyowner (if applicable) are not eligible for applications .