1. Bind bank card (DDA)
Binding bank card automatic payment, also referred to as DDA, is currently the most convenient method. You can open a bank card with a Hong Kong account, and fees will be automatically deducted every year after linking the account; domestic ICBC, China Merchants Bank, Bank of China, China Construction Bank, Hang Seng, etc. can be opened, requiring ID card + pass + address proof (water and electricity for one month within three months) Gas bill or credit card bill (name and address required), call the relevant bank before opening the card; it is recommended to apply at least one month in advance, as the domestic card opening cycle is longer.
Note: 1. After the association is successful, the insurance company will automatically debit the Hong Kong dollar account. Please ensure that there is a balance in the Hong Kong account.
2． If the deduction is unsuccessful, AIA/Prudential will incur a one-time handling fee of HKD 150 (please prepare 3 months in advance to associate DDA. In addition, if the customer has previously bound the associated Generali policy, if it is lost and reissued, or the credit card is about to expire, If you need to rebind the policy, please resubmit the relevant information 3-4 months before the expiration date of the policy. Please pay close attention to the status of your bank card)
2. UnionPay (more convenient). Method)
Log in to the customer's personal page on the official website of the insurance company and enter the UnionPay card payment channel:
To pay through the UnionPay channel of AIA Hong Kong, use domestic UnionPay debit Either card or UnionPay credit card can be used (the bank charges a handling fee of 1.20%);
Prudential Insurance Company’s UnionPay channel payment can be made using a domestic UnionPay debit card or UnionPay credit card (the bank charges a handling fee of 0.9%) ) but will be suspended from March 19, 2016.
3. Wire transfer
AIA/PRU/AXA/Standard Life/FWD: When making a wire transfer, please write the policy number and premium in the note, and please include a clear Send the payment voucher to our company for follow-up; you can go to major domestic banks to wire the money to the insurance company's account; (the bank charges part of the procedures, wire transfers are generally divided into two handling fees, one is a handling fee of 100 charged at the time of the wire transfer +, the other is charged by a third-party bank, usually 15-20 US dollars per wire transfer, different banks have different charges)
4.PPS
(No.: AIA:41/PRU:25/AXA:61; replace the letter B with 1 and the letter G with 6 in the policy number.)
5. Cash
Go to Hong Kong and make cash payment at the corresponding bank (either U.S. dollars or Hong Kong dollars, AIA designated Citibank, AXA designated HSBC, Prudential designated CITIC Bank)
6. Insurance company payment
You can go to the counter of the insurance company in person for cash processing (you must bring your ID card, pass and cash, the limit is 10,000 US dollars, no credit cards are allowed!) (AIA limit is 10,000 US dollars, Prudential Limited to US$8,000)
7. Invoicing
You can issue a personal check, money order or cashier's check (a green "Counter Deposit Slip" must be attached). When issuing an invoice, you need to use it on the back of the bill. Pencil filling: policy number and premium information.
For Hong Kong insurance customers, if you want to realize automatic deduction and renewal of premium upon maturity, and the deduction process does not require handling fees, please do so as soon as possible before the next premium expires. Open a Hong Kong bank account in the Mainland.
If you want to pay U.S. dollars directly from a Hong Kong account, you can apply for a U.S. dollar check book from a Hong Kong account. There is no handling fee for paying later premiums by U.S. dollar checks. In addition, when collecting claims or withdrawing dividends, you can choose a Hong Kong bank account to receive payment, which is very convenient. At the same time, you can also speculate in Hong Kong stocks or US stocks. Once the money arrives in Hong Kong, it is not subject to foreign exchange controls; the same applies when the funds are transferred back to China.
Extended reading: How to buy insurance, which one is better, and step-by-step instructions to avoid these "pitfalls" of insurance