Withdrawal of reinvested dividends
This option enables you to withdraw reinvested dividends from your Manulife InvestReady (III), Manulife SmartRetire (II), Manulife SmartRetire (III), and Manulife SmartRetire (V) policies without incurring surrender charges (penalty).
What you need to know
- This withdrawal option is only available for Manulife InvestReady (III), Manulife SmartRetire (II), Manulife SmartRetire (III),and Manulife SmartRetire (V) policies.
- For all other investment-linked policies, dividend withdrawals are considered partial withdrawals. These may be subject to surrender charges and could reduce your policy value. Please refer to your policy contract for more details.
- We encourage you to evaluate your risk tolerance, investment goals and investment time horizon before making an investment decision. If you need help reviewing the suitability of your investment, please get in touch with your Representative who can assist you on your request.
Please note that policies with the following statuses or requests are not eligible for online submission:
- Policies placed under trust*
*Trust policies are policies with a trust nomination under Section 132 (formerly Section 49L) of the Insurance Act 1966
- Policies that are currently on hold
- Requests to transfer proceeds from a cash-funded policy to another policy owned by the same policyholder
For these cases, please refer to the Form Submission for Policies Not Eligible for Online Submission section below.
Instructions
1. Log in to your account on MyManulife.
2. Click on “Services”, then select "Surrender/Withdrawal".
3. Choose the policy from which you wish to withdraw your reinvested dividends from.
4. Under “Type of Request,” select “Withdrawal of reinvested dividends without penalty”, and indicate whether you want to withdraw the full amount or a specific amount.
5. Follow the on-screen instructions to complete the process.You will receive a notification once the request is processed.
Form Submission for Policies Not Eligible for Online Submission
This applies to:
- Policies placed under trust*
*Trust policies are policies with a trust nomination under Section 132 (formerly Section 49L) of the Insurance Act 1966
- Policies that are currently on hold
- Requests to transfer proceeds from a cash-funded policy to another policy owned by the same policyholder
1. Download and complete the Surrender/Withdrawal Form.
2. You can mail the completed original hard copy form along with any supporting documents (if applicable) 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 "Services".
3. Under "Upload Forms", click on "Other Transactions". Follow the instructions on the page to submit the completed form.
When will I receive my payout if I withdraw my reinvested dividends?
Withdrawal of reinvested dividends processing time (excluding payout disbursement):
- Requests received before 3pm will be processed in 3 business days.
- Requests received after 3pm will be treated as received on the next business day.
Note:
Please note that if your policy is subject to any ongoing internal activities, including but not limited to fund holidays, monthiversary processing, or pending fund transactions that have not been completed, the processing of your request will be deferred until such activities have been completed.
In such cases, your request will be deemed to have been received on the first business day following such completion of the relevant activities, and the applicable fund price will be determined on that basis.
Payout processing time
Once your withdrawal request is processed, additional time is needed to arrange the payout based on your chosen method:
Payout Methods
- PayNow‑NRIC/FIN
- S$200,000 and below: Up to 1 business day
- Above S$200,000: 3 business days
Electronic Fund Transfer (EFT): 3 business days
Telegraphic Transfer (TT): 3 business days
Note:
Manulife Singapore has discontinued the issuance of cheques for payouts relating to Singapore Dollar (SGD)-denominated policies. To avoid delays in receiving your payouts, please update your payout method to one of our secure and convenient digital payment options.
To register for PayNow or Electronic Fund Transfer (EFT), please click here.
To whom will the payment be made?
For non-trust policies:
- Cash-funded policy – proceeds will be paid directly to the Assignee/Policyowner either through PayNow or Electronic Fund Transfer.
- CPF Ordinary Account (OA) / Supplementary Retirement Scheme (SRS) funded policy - proceeds will be paid to the agent bank.
- CPF Special Account (SA) - proceeds will be paid to CPF Board.
For Trust policy under Section 132 of the Insurance Act (formerly known as S49L):
- Payment can be made to any one Trustee who is not the Policyowner, or to all Beneficiaries who are at least 18 years old.
- If any Beneficiary is under 18 years old, payment will be made to the legal guardian/ parent of the Beneficiary who is not the Policy Owner.
For Trust policy under Section 73 of the Conveyancing and Law of Property Act:
- Payment can be made to all Trustees, or to all Beneficiaries who are at least 21 years old.
- If any Beneficiary is under 21 years old, payment will be made to the legal guardian/ parent of the Beneficiary who is not the Policy Owner.
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.
