Surrender or withdraw a policy

Apply to surrender or withdraw a policy in full or partially.

Instructions

Purchasing a policy is a big decision, and so is surrendering one; that’s why we want to support you in making the best decision based on your situation.

A policy with an accumulated cash value can be surrendered for cash. By surrendering your policy, you are losing the valuable benefits and coverage of your policy, which may hinder you from meeting your long-term financial objective. You may also not be able to obtain a similar level of protection on the same terms in the future.

If you would like to continue your policy but seek assistance with premium payments, there are other options for your consideration. We urge you to speak to your Representative to discuss your options.

However, if you would still like to proceed with the policy surrender, please follow the instructions below:

For full surrender of investment-linked policies

Your Representative will be able to assist you on this matter.

If you do not have a Representative, or if your policy has a trust arrangement, you may refer to FAQ below for more information.

For partial withdrawal of investment-linked policies, or full surrender of other policies

Please submit the completed Surrender/Withdrawal Form to us.

FAQ

How to request for Withdrawal/Surrender if you do not have a Representative or if your policy has a trust arrangement?

If you do not have a Representative or if your policy has a trust arrangement, please contact us at service@manulife.com for a Surrender/Withdrawal Form. Alternatively, you may submit the request via the Contact Us form.

Once completed and signed by the relevant parties, you may choose to upload to our customer portal, MyManulife, email or mail the form together with the required documents to us for further processing.

Who will need to sign the form to request for Withdrawal/Surrender ? 
For non-trust policies, the Assignee or Policyowner must sign the form. 

For a Trust policy under S49L, either of the following parties must sign the form: 

• Policyowner and any one Trustee (excluding the Policyowner), or 
• All Beneficiaries (each Beneficiary must be at least 18 years old)

For a Trust policy under S73, the Policyowner and all Trustees must sign on the form. 

Where will the payment be made to? 

For non-trust policies: 

• CPF Ordinary Account (OA) policy - proceeds will be paid to the agent bank 
• CPF Special Account (SA) policy - proceeds will be paid to CPF Board 
• Cash-funded policy - proceeds will be paid directly to the Assignee/Policyowner 

For Trust under S49L: 

• We will pay the proceeds to the Trustee or Beneficiary who signed on the Surrender/Withdrawal Form. 

For Trust under S73: 

• We will pay the proceeds to all Trustees.