Billing & Payment
Your payment card may be declined for payment or authorization requests under the following circumstances: - The entered payment card information is incorrect, or the card has expired > You can log in to your account and add another payment card in the "Payment" page. - Insufficient credit limit > Please contact your card issuing bank to ensure your payment card has sufficient funds. - The transaction has been declined > Please contact your card issuing bank to approve the transaction. Once you have verified that the payment card information is correct, you can attempt the transaction again. If a payment is declined and the policy enters the grace period, the system will attempt to deduct the payment every three days until the grace period ends. For more information, please refer to: What would happen if I miss a premium payment? If none of the above situations apply, please reach out to us via the online chat button or email us at care@onedegree.hk for further assistance.
You can use a family member's or friend's credit card to pay the premium. If you need to use someone else's credit card for the policy application, please ensure that the cardholder directly enters their credit card information on the online payment page to complete the payment authorization. We offer two premium payment options: annual and monthly. If you only need to use someone else's credit card for a one-time payment, please log in to our online platform and update your credit card information before policy renewal.
You can use VISA, Master, American Express, JCB, or UnionPay credit card to pay your premiums. Apart from that, we also accept payments using Visa debit cards and Debit Mastercards. We will continue to introduce more payment methods to provide you with additional options that meet your needs to better meet customers' needs.
Our insurance policies offer two payment options: annual and monthly. OneDegree will only charge premiums based on the payment method selected at the time of purchase. Annual premiums will be charged at the time of policy purchase or renewal, while monthly premiums will be charged on the same day each month. If customers receive duplicate payment notifications outside of these scenarios, please contact us via the online chat button or email us at care@onedegree.hk for further assistance.
The Insurance Authority (“IA”) is a new insurance regulator independent of the Government. The objectives of its establishment are to modernise the regulatory infrastructure to facilitate the stable development of the Hong Kong insurance industry, provide better protection for policyholders, and comply with the requirement of the International Association of Insurance Supervisors that insurance regulators should be financially and operationally independent of the government and industry. IA has to be financially independent and recover its operating costs through the collection of premium levies payable by policyholders and fees payable by insurance companies, designated insurance holding companies, intermediaries, and users for specific services. Starting from January 1, 2018, the Insurance Authority has authorized insurance companies to charge policyholders a premium levy in accordance with the Insurance (Levy) Ordinance and the Insurance (Levy) Regulation. As of April 1, 2021, the levy rate will be increased to 0.1%, with a cap on the levy amount. For further information, please visit https://www.ia.org.hk/en/aboutus/role/financial_arrangements.html
