Change of sum insured
This option enables you to increase or decrease the sum insured of your policy.
What you need to know
Depending on your policy contract, you have the option to adjust the sum insured for your policy and any applicable riders.
Please note that an increase in the sum insured is available only for selected plans and will require underwriting.
To explore the options available for your policy, please contact your Representative for assistance.
- Download and complete Section 4A of the Policy Details Change Form.*
*Note: For an increase in sum insured, your Representative will assist you with submitting any additional requirements. - Upload the completed form, along with any supporting documents (if applicable), to our customer portal, MyManulife or via the Manulife SG App (refer to steps below).
- Alternatively, you can mail the completed original hard copy form to the following address:
Manulife (Singapore) Private Limited
8 Cross Street
#15-01 Manulife Tower
Singapore 048424
Please ensure that the form is signed in wet ink. Click here to obtain the Business Reply Envelope for your submission.
If you do not have a MyManulife account, you can easily follow the step-by-step instructions here to create your account.
How to upload form to MyManulife
1. Log into your account via MyManulife or the Manulife SG App.
2. Click on "Servicing".
3. Under "Upload Forms", click on "Other Transactions". Follow the instructions on the page to submit the completed form.
When does the increase in sum insured take effect?
For traditional policies:
The increase will take effect from the policy effective date. You will be advised of the premium and interest payable, where applicable, for your application.
For investment-linked policies:
The increase will take effect from the next monthiversary.
When does the decrease in sum insured take effect?
For traditional policies:
The decrease will take effect on the next premium due date. If your policy has attained cash value, there will be a partial refund of the cash value to you, after offseting of any outstanding loan balance, where applicable.
For investment-linked policies:
The decrease will take effect from the next monthiversary.
Who will need to sign the form?
For non-trust policies:
- The Assignee or Policyowner must sign the form.
For Trust policies under Section 132 of the Insurance Act (formerly known as S49L):
- The Policyowner and any one Trustee who is not the Policyowner, or
- All Beneficiaries who are at least 18 years old must sign the form.
- If any Beneficiary is under 18 years old, a legal guardian or parent who is not the Policyholder can provide consent.
For a Trust policies under Section 73 of the Conveyancing and Law of Property Act:
- The Policyowner and all Trustees, or
- All Beneficiaries who are at least 21 years old must sign the form.
- If any Beneficiary is under 21 years old, a legal guardian or parent who is not the Policyholder can provide consent.
