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Surrender or withdraw a policy

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



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

You can consider other alternatives to maintain your policy, such as applying for a premium holiday, making a fund switch for investment-linked policies, or making a coupon withdrawal and cash loan for a traditional policy if your policy has an accumulated cash value. We encourage you to contact your Representative or our Client Services team at (65) 6833-8188 to discuss your options for your policy. 

If you would still like to proceed with the surrender or withdrawal, please complete the Surrender/Withdrawal Form and submit it to us with the necessary document(s) requested.

What you need to provide

1. Completed Surrender/Withdrawal Form 
2. Copy of both sides of the NRIC / passport / identity card of the Policyowner, Life Insureds, Trustees and Beneficiaries who signed on the Surrender / Withdrawal Form.


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.


Change of premium

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Change of sum insured

Apply to increase or decrease your sum insured.



Change to recurring single premium

Make changes to your standing instruction for recurring single premium (RSP) investments.



Change payment frequency

Apply to change the frequency of your premium payment.



Change payment method

Apply to change your payment method from GIRO to Direct Billing or vice versa.



Change rider/supplemetary benefits details

Apply to make changes to your rider or supplementary benefit.



Change insured person

Apply to change the Life Insured on your policy.



Secondary life insured option

Apply to appoint or change the Secondary Life Insured of your policy.



Change occupation details

Update your policy with your change of occupation.



Convert to reduced payout policy

Apply to use your policy's cash value to convert the policy to a reduced paid-up policy.



Change of representative

Request for a change of servicing representative.



Reinstate a lapsed policy

Apply to reinstate a policy after it has lapsed.



Notify Manulife of a will or a will change

Notify Manulife when you have made a will or a change to an existing will.



Other services that we offer

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