Inter-Bank Giro Payment of Insurance Proceeds ( Group Policy : GS 624E )

19 November 2009

Dear Sir/Madam,

Inter-Bank Giro Payment of Insurance Proceeds

Group Policy : GS624E

As part of our continuous efforts to improve our services, we are pleased to inform that we have arranged a new facility for payment of surrender, maturity and refund of premiums directly to the member's bank account with immediate effect.

This facility has been planned for the convenience of your members where they need not queue up at the bank or the ATM machine to bank in cheques. Also, we have mitigated the risk of our cheques being tempered by unauthorized personnel. We enclose a copy of the form for your information. Even though we have allowed an option of paying insurance proceeds via cheques, we are encouraging your members to use this new facility.

The member's bank account needs to be among those in the GIRO Participating Bank as attached.  To ensure that we are paying to the correct bank account, we would require a photocopy of the bank passbook  or bank statement to be enclosed for our verification.  For other details, please refer to the form.  As we are having a weekly crediting of insurance payments, please allow for up to two weeks for the payment to be credited.

Thank you.

IBG facility is only available to the following GIRO participating banks :-

(Date Updated : 14 January 2009)