BOC Credit Card payment option is extended to all BOC Life insurance plans for settlement of initial premium (except insurance plans applied via online or mobile banking)

Applicable Period: from 1 October 2023 (limited quota)

 During the abovementioned Applicable Period, BOC Credit Card payment option for settlement of initial premium (“the Arrangement”) is extended to all insurance plans underwritten by BOC Group Life Assurance Company Limited (“BOC Life”) (except for insurance plans applied via online or mobile banking) (“Applicable Plan(s)”). Customers can use his/ her BOC Credit Card for settlement of initial premium during the said period.

*The Arrangement has limited quota and is available on a first-come, first-served basis while quota lasts. 

Terms and Conditions of the Arrangement: 

• Applicable Period refers to the period from 1 October 2023 (limited quota)(the "Applicable Period"). Nevertheless, the Arrangement is subject to quota and available on a first-come-first-served basis while quota lasts. The Arrangement may be terminated before the end of the Applicable Period.
• The Arrangement is only applicable to settlement of initial premium of any of the insurance plans underwritten by BOC Life (except for insurance plans applied via online or mobile banking) applied during the Applicable Period (“Applicable Plan(s)”) via Eligible Credit Card (as defined below).
• Applicable premium payment mode: single premium, prepaid premium or any payment mode of the initial premium.
• The Arrangement only applies to payment settled by BOC Credit Cards issued in Hong Kong and denominated in HKD (“Eligible Credit Card”). For premium of non-HKD policy(ies) settled via the Arrangement, the payment amount shall be calculated with the currency exchange rate provided by BOC Life on the date of settlement.
• Premium payment(s) must be made by the Policy Owner’s own Eligible Credit Card.
• Financial Needs Analysis must be completed before application to ensure that the relevant Applicable Plan is a suitable plan for the applicant.
• The application form must be duly completed and signed during the Applicable Period, and the initial premium must be settled via Eligible Credit Card during the Applicable Period.
• The completed and signed application form together with the other required document(s) must be submitted to BOC Life within 1 month after the sign date of the application (the time when BOC Life receives the document(s) is based on the record of BOC Life).
• The proposal of the Applicable Plan(s) must be printed within the Applicable Period; and the application must be accepted by BOC Life.
• There is no limitation on the number of application(s) of the Applicable Plan(s) by each applicant (the acceptance of insurance application(s) is/ are subject to the underwriting result).
• In case of cancellation of the policy during the cooling-off period or in any event of a refund of premium, the refund of premium will be settled via the same Eligible Credit Card with which the applicant used to settle the premium payment(s).
• BOC Life reserves the right to amend, suspend or terminate the Arrangement and to amend the relevant terms and conditions at any time at its sole discretion without prior notice.
• In case of any dispute, the decision of BOC Life shall be final.
• Should there be any discrepancy between the Chinese and English versions of these Terms and Conditions, the English version shall prevail.
• These Terms and Conditions shall be governed by, and construed in accordance with, the laws of the Hong Kong Special Administrative Region.

Reminder: To borrow or not to borrow? Borrow only if you can repay!