Life Insurance Company | Hong Leong Assurance Malaysia

Deferment of Premium Payment

Frequently Asked Questions (FAQs) on Deferment of Premium Payment for Life Insurance due to COVID-19

Click here for FAQs on Deferment of Premium Payment for Life Insurance due to COVID-19

Premium Payment

Auto Debit

Standing Instruction

E-Payment

Direct Banking

Direct Payment

E-Payment for Policy Administration / Policy Benefits

What is e-Payment?

Payments that are made directly to payee from the bank accounts using security features over the Internet.

Why choose e-Payment?

Fast, convenient and secure.

What do I have to do to receive funds via e-Payment?

It’s simple; submit your bank account details online at My Transactions i.e. Update Direct Credit/ E-Payment.

Will there be charges imposed if I want to use e-Payment facility?

No cost will be charged for the policy benefits via e-Payment selection.

Is there any restriction on the type of bank account that can be used for e-Payment?

Direct Credit / E-Payment is only available for direct credit to banks participating in the Interbank GIRO payment system (IBG) which are subject to changes.

You can assign any of your existing active saving or current account held under your name or a joint account that has your name as the first accountholders.

For e-Payment with joint account, please ensure that your name and NRIC/Passport number must be the First Account Holder’s details as it will be the first criteria for bank verification purposes.

When will my bank account be credited?

Payment will be made electronically into your bank account as soon as your request has been approved and fully authorized by the authorized signatories. Funds will be made available in your bank account within the same business day of payment if it is transmitted to the bank. However, depending on the operations time and processes adopted by your bank, you may receive the payment on the same business day or a day after.

Note: Payment is made at the direction of, and based on information provided by, the originator of the payment instruction. If incorrect information is given or the originator revokes the payment instruction or any other circumstances arises which is beyond our control, this may result in payment being delayed or not received. The actual date of credit funds is also dependent on the clearing system(s) used and the beneficiary's bank.

Will I be notified once the Hong Leong Assurance has made the payment?

Yes, SMS and an e-mail notification will be sent to your registered hand phone number and e-mail address provided by you in the Direct Credit / E-Payment Form once the payment has been transmitted to you.

What will happen to funds that cannot be credited into my bank account?

If funds cannot be credited into your bank account due to, for example, incorrect bank account number, inconsistency of NRIC/Passport Number or Business Registration Number, closed or inactive bank account, we will remit the payment to you via cheque to avoid any delay.

Is it compulsory to give my bank account details and the required documents to get paid by e-Payment? What If I do not wish to reveal my banking details – how do I get paid?

E-Payment is the most efficient, convenient and safest method of payment. However, in the event you do not wish to receive payments directly to your bank account, we will remit the payment to you via cheque. The turnaround time will be extensive as compared to e-Payment.

Can I change my bank account information?

Yes, you are allowed to change your bank account details online at My Transactions i.e. Update Direct Credit/ E-Payment.

Do I need to provide my bank account information separately for e-Payment for each of my policy if I have more than one policy?

You are not required to provide your bank account information separately if you have more than one policy with same Policy Owner and Life Assured. However if you have policies with different Policy Owner and/or different Life Assured, hence separate form needs to be submitted.

We will update your bank details as and when you submit your Direct Credit / E-Payment Form together with Policy Benefits withdrawal request. Your latest bank details will be updated into our system.

How will my bank account information be used and will it remain confidential?

Your bank account details and other related information will be used solely for the purpose of enabling payments to be credited directly into your bank account.

No.	Bank
1	Bank Islam Malaysia Berhad
2	Bank Kerjasama Rakyat Malaysia Berhad
3	CIMB Bank Berhad
4	Citibank Berhad
5	Deutsche Bank Malaysia Berhad
6	Hong Leong Bank Berhad
7	HSBC Bank Malaysia Berhad
8	Malayan Banking Berhad
9	OCBC Bank Malaysia Berhad
10	Public Bank Berhad
11	RHB Bank Berhad
12	Standard Chartered Bank Malaysia Berhad
13	Bank Of America Merrill Lynch
14	J.P.Morgan Chase Bank Berhad

Step 1	1. JomPAY Banks offering JomPAY - Click 2. Hong Leong Bank Berhad - www.hlb.com.my 3. Malayan Banking Berhad - www.maybank2u.com.my 4. Public Bank Berhad - www.pbebank.com
Step 2	Select JomPAY/Bill Payment
Step 3	Make sure you provide policy number in Ref-1

Bank	Bank Account Number	Over the counter	Deposit Machine
HLB	00100108802	Cash and Cheque	Cheque Only
BSN	1410029830311241	Cash and Cheque	N/A

Monday to Friday	9.00am to 6.00 pm
Saturday, Sunday and Public holiday	Closed

Frequently Asked Questions