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Surrender or withdraw a policy

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


Instructions

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 to discuss your options for your policy. 

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

For full surrender of investment-linked policies

Log in to our customer portal, MyManulife at www.mymanulife.com.sg.

If you do not have a MyManulife account, you can easily follow the step-by-step instructions at www.mymanulife.com.sg to create your account.

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For partial withdrawal of investment-linked policies

Complete the Surrender/Withdrawal Form and submit it to us with below document(s):

- 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.

For full surrender of traditional policies

Complete the Surrender/Withdrawal Form and submit it to us with below document(s):

- 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.

FAQ

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.


 

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