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Policy & Payment

How to pay for your life insurance

We offer a vast number of convenient ways to pay for your plan

To protect your interest, please avoid passing cash or transferring funds (e.g. via bank transfer, WeChat, Alipay, etc) to your financial consultant when making your payments. Please make the payment to us directly using the payment methods listed below.
 
Please allow 3 working days for payment processing (applicable to PPS, internet banking, Bank of China Hong Kong (BOCHK) cheque deposit machine, ATM (JETCO), Faster Payment System (FPS), PayThruPost, cheque payment by mail and designated bank in Hong Kong). 

An official receipt will be issued and can be viewed on myPrudential, once your payment is verified.

Payment methods

Autopay

Here’s how to setup bank account autopay authorization:


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 (for non-monthly mode policy) or 2 payment installments (for monthly mode policy) in advance, as it takes 30-45 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.

The autopay direct debit day will be on the 6th of each month for all life insurance policies. For unsuccessful or rejected transactions, the 2nd attempt of direct debit will be executed on the 20th of the current month. If the direct debit day falls on Saturday, Sunday or a public holiday, the debit date will be postponed to the next business day. Generally speaking, banks will follow our stipulated debit dates but individual banks may not always conform to our scheduled dates due to operational reasons. To ensure the autopay can be carried out successfully, please reserve sufficient funds for paying premium and levy prior to the aforementioned dates.

Please note that the above autopay arrangement is not applicable for policies that were applied through the direct marketing channel (i.e. policy numbers that begin with FP/MA/SB/SC/SM/LB/LC).

Bank of China Hong Kong (BOCHK) cheque deposit machine

You may make your payment by depositing crossed cheques in HKD / USD / RMB issued by banks in Hong Kong into the BOCHK cheque deposit machine (currency for payment is subject to the terms and conditions of individual insurance products).

Select

Bill Payment Service

Category

Insurance/ Pension

Merchant

Prudential-Life Insurance (HKD) / (USD) / (CNY)

Bill type

01 - Life-Initial Premium

02 - Life-Others

03 - Life-Renewal Premium

04 - Life-Loan Repayment

Payment reference

Please enter the 10-digit Billing Number at the Cheque Deposit Machine. (e.g. BN0123456789, enter only the number underlined)

Amount  

Amount Payable

Note:

  • Only crossed cheques made payable to "Prudential Hong Kong Limited" can be accepted. Please state clearly the policyholder name, policy number/billing number, bill type and the contact telephone number at the back of the cheque. 

  • You can only pay for one item per policy with each cheque.

  • If the cheque payment cannot meet the requirements set by the company, you may suffer losses due to overdue payments.

     

For more information, download the BOCHK cheque deposit machine user guide

PPS

You may choose to pay by PPS through the internet or a touch-tone phone.

PPS by internet

Please visit www.ppshk.com

PPS by phone

Please dial 18031 (English) or 18033 (Cantonese)

Our merchant code

25

Bill type

1 – Initial Premium / Balance of Initial Premium

2 – Deposit for Change / Revival / Administration Fee

3 – Renewal Premium

Bill account number

Please enter 10-digit Billing Number (e.g. BN0123456789, enter only the number underlined)

Payment amount

Payment amount due in HKD

Note:

It is required to register your bill by using the Billing Number before payment.

JETCO ATM

Select service

Bill Payment

Our merchant code

9228

Bill type

01 – Initial Premium / Balance of Initial Premium / Single Premium

02 – Deposit for Change / Revival / Administration Fee

03 – Renewal Premium

04 – Loan Repayment

Bill account number

Please enter 10-digit Billing Number (e.g. BN0123456789, enter only the number underlined)

Payment amount

Payment amount due in HKD

Hong Kong Post (PayThruPost)

Proposer / Policyowner / Life Assured may make payment by using cash, their personal EPS or crossed cheque / cashier’s order / bank draft issued by banks in Hong Kong by presenting the "Premium Notice", "Premium Reminder Notice", "Premium Overdue Notice" or "Proposal Outstanding Premium Notice" issued by Prudential at any Hong Kong post offices.

Payment by EPS:
  • Present the "Premium Notice", "Premium Reminder Notice", "Premium Overdue Notice" or "Proposal Outstanding Premium Notice" issued by Prudential.

  • The cardholder must be the Proposer / Policyowner / Life Assured. Otherwise, the payment will not be accepted.

 
Payment by cheque (including cashier’s order / bank draft):
  • Present the "Premium Notice", "Premium Reminder Notice", "Premium Overdue Notice" or "Proposal Outstanding Premium Notice" issued by Prudential.

  • Only HKD cheques issued by the Proposer / Policyowner / Life Assured drawn from banks in Hong Kong can be accepted.

  • Only HKD crossed cheques made payable to “Prudential Hong Kong Limited” will be accepted.

  • For cashier’s order / bank draft, a bank receipt or bank endorsement, which shows that the purchaser of the cashier’s order / bank draft is the Proposer / Policyowner / Life Assured, has to be presented. Otherwise, the payment will not be accepted.

 
Payment by cash:
  • Only HKD payment will be accepted.

  • Maximum HKD 120,000 per premium installment per policy.

  • Present the "Premium Notice", "Premium Reminder Notice", "Premium Overdue Notice" or "Proposal Outstanding Premium Notice" issued by Prudential.

  • The Payer must be the Proposer / Policyowner / Life Assured. Otherwise, the payment will not be accepted.

Internet banking

You can use internet banking offered by the following banks:

 
Accept payment via Bank Account 
Accept payment via Credit Card Account 

AEON Credit Service

 

 

Bank of China (Hong Kong)**

 

 

Bank of Communications

 

 

Bank of East Asia

 

 

China CITIC Bank International

 

 

China Construction Bank

 

 

Chong Hing Bank

 

 

Citibank

 

 

CMB Wing Lung Bank

 

 

Dah Sing Bank

 

 

DBS Bank

 

 

Fubon Bank

 

 

Hang Seng Bank

 

 

HSBC*

 

 

ICBC (Asia)

 

 

Nanyang Commercial Bank

 

 

OCBC Wing Hang Bank

 

 

Public Bank (HK)

 

 

Shanghai Commercial Bank

 

 

Standard Chartered Bank (Hong Kong)

 

 

* Policyowners can make payment for initial premium, renewal premium, deposit for policy changes/revival and loan repayment through a HSBC bank account. This payment method is eligible for Hong Kong dollar and US dollar policies. The bank account for payment must be in HKD and held by the policyowner. Under normal circumstances, the maximum daily transaction limit for the bill payment category is HKD 100,000 (note: this limit applies to all bill payment made by the bank account holder on the same day and not only payments to Prudential). The maximum daily transaction limit may vary depending on individual account setting. To enquire about or change your daily limit for internet banking transactions, please contact HSBC directly.

** Policyowners can make payment for initial premium, renewal premium, deposit for policy changes/revival and loan repayment through a Bank of China (Hong Kong) bank account.

The daily transaction limit may vary depending on the type of accounts at different banks. Please contact your bank or financial consultant for assistance. The internet banking bill payment service offered by banks may be subject to change without prior notice.

Faster Payment System (FPS)

You can make payments via the Faster Payment System (FPS) provided by your bank or nominated service provider. Please contact your FPS provider for more information. By making payments via FPS, your payment details will be transferred from the relevant service provider to Prudential. The details received will be stored and used by Prudential for various purposes, including but without limitation to, making future refunds and payments to you. If you do not agree to the aforesaid transfer, use, disclosure and processing of this necessary information, we will not be able to process a payment and recommend you to use other payment methods. Please visit our corporate website at www.prudential.com.hk for our Privacy Policy.

Note:

  • The FPS transaction amount of each Internet Banking Account is subject to a daily limit. The daily transaction limit may be different according to your bank and individual account settings.

Designated bank in Hong Kong
  • If the policy has been applied through financial consultant/ broker/ independent financial advisor, please contact your financial consultant/ broker/ independent financial advisor to make payment in designated banks and branches with appointment in advance.
  • Counter service for payment at Standard Chartered Bank Hong Kong branches by bank account transfer (cash payment not accepted) is only applicable for policies applied through Standard Chartered Bank (Hong Kong) Limited. 
Online credit card payment via myPrudential
VISA / MasterCard

From 1 May 2020, only VISA / MasterCard issued outside Hong Kong can be accepted for registration. For paying premium with Hong Kong issued VISA / MasterCard, only the successfully registered card is accepted for paying renewal premium of policy issued on or before 30 Apr 2020.

  • Credit cards can only be used for paying the renewal premium and levy for your life insurance policy. It cannot be used for paying the “Change / Regular Top-up Premium”, “Lump Sum Top Up Premium”, “Premium Payment with Premium Deposit Account” and “Loan Repayment”.

  • Only HKD payments are accepted. If the policy currency is in USD or if the currency of the credit card account is not in HKD, then foreign currency exchange will be involved.

  • You are required to install the PRUmobile app to your mobile device and log in to myPrudential within PRUmobile to register your VISA / MasterCard.

  • Only successfully registered cards are allowed for online payment.

  • You can also register more than one VISA / MasterCard for payment.

  • Cardholder must be the policyowner.

  • A 2.8% “Administration Fee on Overseas Premium Payment” will be charged upon each successful online payment transaction by VISA / MasterCard issued outside Hong Kong. This fee may not be refunded upon premium refund. In addition, individual banks may have certain limits on each single transaction and daily cumulative transactions. Please contact your designated bank for more details.

     

Union Pay
  • China issued UnionPay Cards can only be used to make renewal payment of life insurance policy without a savings or investment element. It cannot be used for paying "Lump Sum Top Up Premium", "Premium Payment with Premium Deposit Account" and "Loan Repayment".

  • We accept payment in HKD only. If the policy currency is in USD or if the currency of the UnionPay account is not in HKD, then foreign currency exchange will be involved.

  • You must submit “Registration Form for Pay Premium Online with UnionPay Debit Card / Credit Card via myPrudential” or register online via myPrudential to pay your renewal payment with a UnionPay Credit Card / Union Pay Debit Card. Registration results will be sent to you via email.

  • The Debit Card Account / Credit Card Holder must be the policyowner. Joint accounts or company accounts will not be accepted.

  • All payment using individual credit / debit card will be subject to an administration fee. The administration fee for the UnionPay card is 1.2% of the payment amount and it may not be refunded upon premium refund. In addition, individual banks may have certain limits on each single transaction and daily cumulative transactions. Please contact your designated bank for details.

Payment by VISA / MasterCard
  • If you wish to make payment for initial premium, revival, or policy change by credit card, please contact your Financial Consultant.

  • If you wish to pay for renewal payment by credit card, please make online payment via myPrudential or visit our Cashier in person. Maximum payment limit is determined by your designated bank.

  • If the policy was applied through Standard Chartered Bank (Hong Kong) Limited, VISA / MasterCard is not accepted for renewal payment at Cashier with effect from 1 Apr 2020.

  • Making payment via overseas payment channel (overseas Credit Card) will be subject to a fixed rate at 2.8% of “Administration Fee on Overseas Premium Payment” on payment amount and it may not be refunded upon premium refund.

Cheque payment by mail

Please mail our cheques to us at this address:
P.O. Box No. 28058, Gloucester Road Post Office, Hong Kong

Note:

  • Only crossed cheques made payable to "Prudential Hong Kong Limited" will be accepted. Please write 1) Name of the Policyowner , 2) Policy Number/ Billing Number, 3) Purpose of the Payment and 4) Contact Number on the back of the cheque.

  • Company cheques will not be accepted unless the company is the policyowner of the policy.

  • For HKD policies, we only accept HKD cheques, cashier’s orders or bank drafts issued by banks in Hong Kong.

  • For USD policies, we only accept HKD cheques, cashier’s orders or bank drafts issued by banks in Hong Kong, or USD cheques, cashier’s orders or bank drafts issued by banks in Hong Kong or overseas.

  • For RMB policies, the currency for payment is subject to the terms and conditions of individual insurance products. If payment is to be made in RMB, we only accept RMB cheques or cashier’s orders issued by banks in Hong Kong. RMB bank drafts will not be accepted.

  • Post-dated cheques and payment for policies under different policyowners by the same cashier’s order / cheque will not be accepted.

  • If the amount of the cashier order or bank draft is above HKD 100,000 or the HKD equivalent, 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 prove that the cashier order / bank draft was issued via the bank account of the Proposer / Policyowner / Life Assured).
  • If the payment is above HKD 1,000,000 or the HKD equivalent, a copy of the identity card or passport of the payer and policyowner must be included.

 

*For any queries regarding supporting documents, please contact your financial consultant for assistance.

Payment in person at cashiers

You can bring along the Premium Notice and make payment at our cashiers using one of the following methods. An administration fee may apply for credit card or debit card payments. Please refer to the following payment methods for details.

Crossed cheque /any overseas cheque

We accept HKD or USD crossed cheques or any overseas cheques made payable to "Prudential Hong Kong Limited".

Please write the Name of the Policyowner and Policy Number/ Billing Number on the back of the cheque.
Post-dated cheques and payment for policies under different policyowners using the same cashier’s order / cheque are not accepted.

If the amount of the cashier order or bank draft is above HKD 100,000 or the HKD equivalent, 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 prove that the cashier order / bank draft was issued via the bank account of the Proposer / Policyowner / Life Assured).

If the payment is above HKD 1,000,000 or the HKD equivalent, a copy of the identity card or passport of the payer and policyowner must be provided.

*For any queries regarding supporting documents, please contact your financial consultant for assistance.

Cash

Maximum HKD 120,000 / USD 15,000 per payment installment per policy.

To protect your interest, please avoid passing cash or transferring funds (e.g. via bank transfer, WeChat, Alipay, etc) to your financial consultant when making your payments. If you prefer to pay in cash, you should pay directly at our cashier or at any Hong Kong Post Office .

Credit Card JCB / VISA / MasterCard

For credit card payments, only HKD payment by JCB, VISA or MasterCard are accepted. To pay renewal payment by credit card, please make online payment via myPrudential (VISA / MasterCard) or visit our cashier in person. The maximum transaction limit is determined by your bank. Please note that we do not accept payment by credit card for "Lump Sum Top-p", "Loan Repayment", "Single Premium for PRUuniversal life" and "Advance Premium into Premium Deposit Account (PDA)".

If the policy was applied through Standard Chartered Bank (Hong Kong) Limited, your VISA / MasterCard issued in or outside Hong Kong will not be accepted for renewal payment at our cashier with effect from 1 Apr 2020.

Your payment made via overseas payment channels (i.e. overseas credit card) will be subject to a 2.8% fixed rate charge, as an “Administration Fee on Overseas Premium Payment” and it may not be refunded upon premium refund.

China UnionPay Card

For China UnionPay Card, we can only process payment in HKD. To pay renewal payment by China UnionPay Card, please visit our cashier in person. The maximum transaction limit is determined by your bank. Please note that we do not accept payment by China UnionPay Card for "Lump Sum Top-Up", "Loan Repayment", "Single Premium for PRUuniversal life" and "Advance Premium into Premium Deposit Account (PDA)".

China issued UnionPay Cards are accepted for premium payment of life insurance policies without investment or saving elements only. All payment using individual credit / debit card will be subject to an administration fee. The administration fee for the UnionPay card is 1.2% of the payment amount and it may not be refunded upon premium refund.

EPS

For payment by EPS, we accept only payments in HKD. Only bank cards or credit cards issued by an EPS member bank that has withdrawal through the EPS function enabled can be used. Please visit our cashier in person with your card. The maximum payment amount is subject to the limit determined by your designated bank.

Find a cashier near you

Tsim Sha Tsui

8/F, Prudential Tower, The Gateway, Harbour City, 21 Canton Road, Tsim Sha Tsui, Kowloon, Hong Kong

Business hours:

Monday to Friday 09:00 - 18:00, Saturday 09:00 - 15:00

Closed on Sunday and public holidays

Causeway Bay

12/F, Lee Garden Two, 28 Yun Ping Road, Causeway Bay, Hong Kong

Business hours:

Monday to Friday 09:00 - 18:00, Saturday 09:00 - 15:00

Closed on Sunday and public holidays

Kwun Tong

28/F, Tower 1, Millennium City 1, 388 Kwun Tong Road, Kwun Tong, Kowloon, Hong Kong

Business hours:

Monday to Friday 09:00 - 18:00, Saturday 09:00 - 15:00

Closed on Sunday and public holidays

Important notes

Third party payment is not allowed unless the payer is a designated group of third parties (i.e. spouse / parent / child / sibling / grandparent / grandchild   / parents-in-law / legal guardian), designated by the Proposer / Policyowner / Life Assured, and the payment is submitted together with a "Third Party Payment Declaration Form" duly signed by the payer and the Proposer / Policyowner / Life Assured.

If the amount of the third-party payment is over a designated amount, the payor has to submit a "Third Party Payment Declaration Form", relationship proof and / or the identity document of the payor.  

For payment to an individual policy by company cheque / cashier order / bank draft or telegraphic transfer payment / local telegraphic transfer payment remitted from a company account, the company must be solely / partially owned by the Proposer/ Policyowner / Life Assured or their spouse, parents or children.

Please provide (i) a copy of the Business Registration Certificate or Certificate of Incorporation and (ii) a copy of the latest Annual Return. For a partially owned company, the payor also has to submit supporting documents with the consent from the directors (e.g. board minutes). Third-party payment is subject to terms and conditions. Please refer to the "Third Party Payment Declaration Form" for details.

United States Dollar policies (USD policy) can accept payments paid in United States Dollars (USD) or Hong Kong dollars (HKD) only. Hong Kong Dollar policies (HKD policy) can accept payments paid in Hong Kong dollars only. The payment currency of Renminbi (RMB) policies is subject to the terms and conditions of the individual schemes.

 

Frequently asked questions

Any special restrictions for payment by cheques?

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 customer himself / herself, or the financial consultant is a direct relative to the policyholder and can provide associated proof of document (e.g. copies of birth certificate / marriage certificate) or a letter of authorization.

  • A cheque issued by a third-party is not acceptable. Unless the payee is a direct relative of the policyholder and can provide associated proof of document (e.g. copies of birth certificate / marriage certificate), with a “third party authorization letter” signed by the payee and the policyholder. 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 or the HKD equivalent, 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 above HKD 100,000 or the HKD equivalent, 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 payment should not be placed into the Drop In Box. If you've accidentally placed your payment into such a box, you're fully responsible to alert the staff within the branch.

     

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 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.

What should I note when depositing cheques?
  • Make sure you put the correct payee name on the cheque. For life insurance plans, please make the cheque payable to "Prudential Hong Kong Limited". For general insurance plans, 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 the cheque with other paper, paper clips, elastic bands etc.

  • Insert the 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.

When will my cheque payment reflect in my account?

If you've completed your cheque deposit before the payment cut off time, the transaction will be reflected in your policy account on the following working day. Cheques deposited from Monday to Friday (after 5 p.m.) including Saturdays or Sundays, and public holidays will be handled on the next working day.