FAQ > Premium Payment

The currency that we accept for RMB policy depends on the terms and conditions of specific product.  For the terms and conditions of specific payment method, please refer to relevant FAQ.

To avoid mixing your premium with Financial Consultant’s money, you are recommended to make the premium payment directly to us by using the following payment instructions.

For enquiry, please contact your Financial Consultant or Life Insurance Customer Service Hotline at (852) 2281 1333. 

You may submit "Direct Debit Authorization Form". As 2 months is required for setting the Autopay account, 2 months premium should be prepaid for the account to take effect.

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.

Yes. The Merchant Code of Prudential is 25. Please enter your 10-digit Billing Number (without "BN") and correct bill type to ensure prompt service.

Notes:
Bill type: 1 – Initial / Lump Sum Premium Payment; 2 – Policy Changes; 3 – Renewal Premium Payment

Yes, you can login the Internet Banking and use Online Bill Payment service. Please select “Prudential Hong Kong Limited” under Merchant Name and enter your 10-digit Billing Number (without "BN"), correct bill type, payment amount, and other payment information. For details, please contact your bank or financial consultant.

Three working days are required for processing the premium payment through Online Bill Payment. If this payment method is chosen, premium should be prepaid at least three working days before due date.

Notes – Bill Type:

HKD Bank Account(s)
1 - Initial premium / Balance of Initial premium; 2 - Deposit for Change / Revival / administration fee; 3 - Renewal Premium; 4 - Loan Repayment

USD Bank Account(s) (Only limited to Internet Banking service provided by Bank of China (Hong Kong))*

21 - Initial premium / Balance of Initial premium; 22 - Deposit for Change / Revival / administration fee; 23 - Renewal Premium; 24 - Loan Repayment

RMB Bank Account(s) (Only limited to Internet Banking service provided by Bank of China (Hong Kong))*

31 - Initial premium / Balance of Initial premium; 32 - Deposit for Change / Revival / administration fee; 33 - Renewal Premium; 34 - Loan Repayment

(*Individual bank may allow clients to make payments through their foreign currency bank accounts but at the bank’s discretion. Respective bill type(s) is available for customers to select, some bank may not allow loan repayment. For details of acceptable payment currency for your policy and available bill type(s) through internet banking, please contact your financial consultant or our customer service representative.)

We accept the premium to be settled by Visa/MasterCard except for ‘lump sum top-up’, ‘loan repayment’, ‘single premium for PRUuniversal life’ and ‘advance premium in Premium Deposit Account(PDA)’.
If the policy has been applied through Standard Chartered Bank (Hong Kong) Limited, only Standard Chartered / Manhattan VISA / MasterCard credit card payment would be accepted.

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, 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, we accept HKD or USD crossed cheque. For Life Insurance product, please make the cheque payable to "Prudential Hong Kong Limited". For General Insurance product, please make the cheque payable to "Prudential General Insurance Hong Kong Limited". Please write down the name of the policyowner and the Billing Number on the back of the cheque.

Please note that: (1) Cheque issued by a third party is not accepted unless the cheque issuer is the immediate family member of the Policyowner, and submit together with satisfactory proof (e.g. copy of birth certificate or marriage certificate) or a signed "Third Party Payment Declaration Form" by both cheque issuer and the Policyowner; and (2) Company cheque is not accepted unless the company is the Policyowner of the policy; and (3) Post-dated cheque or payment for different policyowners by the same cashier’s cheque/cheque is not accepted.

Please contact your consultant for details. Also, you may download the "Third Party Payment Declaration Form" from the “Download Centre” under “Online Services” section of our Corporate Website.

Yes. Policyowner or Person Assured can make premium payment at any of Hong Kong Post Office by presenting the premium notice issued by Prudential and using cash, their personal EPS or crossed cheque/ cashier order/ bank draft issued by banks in Hong Kong. Cheque should be made payable to "Prudential Hong Kong Limited".

You may pay the premium of Life Insurance product at China CITIC Bank International Limited (“CITIC”) Hong Kong branches via Cash^{# ^}, cheque^{* ^} and payment transfer under CITIC account@ . If the policy is applied through Standard Chartered Bank (Hong Kong) Limited, you may also pay the premium at Standard Chartered Bank Hong Kong branches. Please contact your consultant for details.

^# Effective 1 Aug 2016, the maximum limit for cash transaction for each policy is HKD 200,000 or USD/RMB equivalent. In addition, for cash transaction of or above HKD 120,000 or equivalent, CITIC will invite the depositor to provide identification documents and sign on the pay-in slip to acknowledge that the documents are provided on a voluntary basis for their compliance with the relevant legal and regulatory requirements, including anti-money laundering and counter-terrorist financing requirements. Such documents may be made available to us on our request for our compliance with the abovementioned legal and regulatory requirements. If any such identification documents are not provided, CITIC has the sole discretion not to accept the deposit.

^{^} Effective from 8 May, 2017, customers making premium payment by cash or cheque (regardless of the payment amount) at CITIC’s branch counters are required to provide his/her identity document for CITIC’s record. If customers refuse to provide such identity document, the bank staff may reject to process the transaction.

^* CITIC is no longer accept premium payment via cheques over-the-counter on all Saturdays. Depositing cheques in any of the "Drop-in boxes" located at CITIC branches is strictly prohibited

@ Applicable to clients with CITIC local bank account. Please contact your bank for details.

Yes. Bank account / credit card owned by Spouse, Parent, Children, Sibling and Grandparent of the Policyowner are acceptable. Bank account / credit card of company account can be used only if the company is the Policyowner of the policy.

For Life Insurance:

• Accept cheques in HKD / USD / RMB only for payment ( payment currency is dependent on individual policy and applied terms and conditions)
• Is only suitable for cheques issued in Hong Kong
• State policyholder name, Billing Number and Bill type number (01 – 04) and contact telephone number

Steps

1. PressStart on the screen and select display language
2. Select Bill Payment Service
3. Select Merchant category（Select Insurance / Retirement）
4. Select Merchant and currency（Select Prudential Life Insurance-HKD / Prudential Life Insurance-USD / Prudential Life Insurance-RMB ）
5. Select Bill Payment type
   

   Bill Type number	Name of Bill Type
   01	Life-Initial premium
   02	Life-Others
   03	Life-Renewal Premium
   04	Life-Loan Repayment

6. Enter 10-digit Billing Number (without "BN")
7. Enter total amount of cheque
8. Insert unfolded cheque into the cheque insertion slot
9. Transaction completed, take customer advice

Please note:

• Each cheque is for one item per policy only
• Bill type number 02 includes policy update and administrative fees

For General Insurance:

• Accept cheques in HKD only for payment
• Is only suitable for cheques issued in Hong Kong
• State policyholder name, policy number and Bill type number (01) and contact telephone number

Steps

• PressStart on the screen and select display language
• Select Bill Payment Service
• Select Merchant category(Select Insurance / Retirement)
• Select Merchant and currency(Select Prudential-General Insurance-HKD)
• Select Bill Payment type
  

  Bill Type number	Name of Bill Type
  01	General Insurance-Premium

• Enter Bill number(12 digits of the policy number)
• Enter total amount of cheque
• Insert unfolded cheque into the cheque insertion slot
• Transaction completed, take customer advice

Please note:

• Each cheque is for one item per policy only

• Must be consistent to the below section under "Other items". In addition, cheque must be crossed. For Life Insurance product, please make the cheque payable to "Prudential Hong Kong Limited". For General Insurance product, please make the cheque payable to "Prudential General Insurance Hong Kong Limited". Each cheque is for one item per policy only and is required to be deposited at the cheque deposit machine. Customers are required to specify policyholder name, policy number and Bill type number (01-04) and contact telephone number.
• 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 pay 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.
  
  In regard to transaction days, if a customer completes making the payment before the payment cut off time, such transaction shall reflect on the policy account the following day.

Other items

Special requirement when paying via cheque?
Regardless of which method you hand in the cheque, you must follow the below guidelines:

• Please put the correct payee name on the cheque. For Life Insurance product, please make the cheque payable to "Prudential Hong Kong Limited". For General Insurance product, please make the cheque payable to "Prudential General Insurance Hong Kong Limited".
• Deposited cheques must be verified and approved to be valid
• When depositing cheques, please do not attach with other paper, paper clips, elastic bands etc
• Insert unfolded cheque into the cheque insertion slot
• Place the front of cheque facing the top when inserting the cheque and place the section with signature to the right hand side of the cheque insertion slot

Cheques deposited from Monday to Friday (after 5 p.m.) including Saturdays/ Sundays, and Public holidays will be handled on the next working day.

Please directly contact the stand-by staff at the Bank of China branch.

Our Company will issue official receipt to the policyowner upon receipt of the premium, except premium payment paid via autopay. Official Receipt will be issued and can be viewed on myPrudential once the payment is verified.

Yes. Official Receipt will be issued and can be viewed on myPrudential once the payment is verified. Please login to your myPrudential. Then select and click “eStatement”. Select eStatement Type “Payment Receipt”. To view Payment Receipt, click on the Printed Date of the Payment Receipt to open the relevant receipt.

More details

With the cancellation of the Temporary Receipt, the temporary insurance – Death by Accident Cover will commence from the issue date of the Official Receipt, subject to the terms and conditions detailed on the overleaf of the Official Receipt.

All premiums should be made by the proposer or the policyowner.
In case the proposer or the policyowner cannot make payment, designated group of 3rd party (please refer to the group information stated on the “Third Party Payment Declaration Form”) can be authorized to pay the premium with submission of “Third Party Payment Declaration Form” signed by the payor and policyowner. If the third party payment is over designated amount, the payor has to submit both "Third Party Payment Declaration Form", relationship proof and / or identity document of payor. For payment to individual policy by company cheque / cashier order / bank draft, the company must be solely / partially owned by the Proposer/ Policyowner / Life Assured or their spouse, parents or children. Third party payment is subject to terms and conditions. Please refer to the "Third Party Payment Declaration Form" for details.

Policyowner can download the “Third Party Payment Declaration Form”from Customer Support & Self Service > Download Center > Useful Forms at our website.