Policy owner service

Pos process flowchart
 
POS items and necessary documents
NO. Content Required
Documents
1  Change living address or mailing address  1, 2, 3
2  Change Name, ID No, DOB  1, 2, 3 / 4 / 5 / 6
3  Change beneficiary  1, 2, 3, 4, 5
4  Change occupation  1, 2, 3, 4
5  Going abroad  1, 2, 3, 7
6  Assignment  1, 2, 3, 4, 6, 9
7  Change frequency  1, 2, 3
8  Reduce SA of basic plan and/or riders  1, 2, 3
9  Increase SA of riders or add riders  1, 2, 3, 4, 8
10  Cancel riders  1, 2, 3
11  Policy loan (*)  1, 2, 3
12  APL Option  1, 2, 3
13  Paid-up  1, 2, 3
14  Change signature  1, 2, 3
15  Reissue policy set (**)  1, 2, 3
16  Re-declaration  1, 3, 8
17  Reinstatement  1, 2, 3, 4, 8
18  Maturity benefit  1, 2, 5
19  Cash benefit  1, 2, 5
20  Cancel policies in free-look period  1, 3, 11, 12
21  Surrender  1, 2, 3

Explanation of necessary documents' number:

  1. Policy set.
  2. Policy change form.
  3. Owner's ID card.
  4. Life Assured's ID card.
  5. Beneficiary's ID card.
  6. Assignee's ID card.
  7. Passport, visa.
  8. Health declaration and medical records.
  9. Document to prove the relationship between the life assured and the owner/ assignee.
  10. Residential booklet of beneficiary.
  11. Not - taken form.
  12. Premium invoice.

(*): When one (01) year has passed since the Effective Date, the Policy Owner may apply to the Company for a policy loan which the amount shall not exceed 85% of the Surrender Value at that point of time.

(**): When requesting to reissue the policy set, the customer has to pay 50.000 VND for fee.

Procedure introduction & notice
  1. Policy Owners can go directly to Customer Service Centers (CSCs) for all requests of policy changes or the Agents can help them. However, for the request of full surrender and cancel in free – look period Policy Owners must come directly to CSCs.
  2. All request forms have to be signed by Policy Owners and Life Assured.
  3. One policy change form is used for only one policy no's. POS requests.
  4. When the customers request to change one kind of POS items, they have to bring the policy set to CSCs. After requests are processed, the Customer Service will print out the endorsement and attach it on the policy set.
  5. Payment guideline:
    • Company will pay the money to Customers by Bank transfer.
      - Customers will receive money from the Bank by submit their ID cards.
      - Company will transfer to Customers' accounts at their Banks.
    • Customer can authorize any person to collect money on his or her behalf by Authorization Letter, but
      1. The authorization letter have to be verified by local government as current law regulations.
      2. In case that payment amount lower than VND 2,000,000 and authorized person is agent, direct sale managers and branch managers can verify the authorization.