Surrender or withdraw a policy
This option allows you to surrender or withdraw a policy in full or partially. All surrender or withdrawal transactions must be submitted via our secure customer portal, MyManulife.
What you need to know
A policy with an accumulated cash value can be surrendered for cash. That said, do note that surrendering your policy may have the following consequences:
- You will lose the valuable benefits and coverage of your policy.
- You may not be able to meet your long-term financial objective(s).
- You may 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, we urge you to speak to your Representative to discuss your options.
Apply for partial withdrawal of an investment-linked policy
- Log in to your account via MyManulife or the Manulife SG App.
- Click on the "Services" tab, followed by “Surrender/Withdrawal".
- Choose the policy you wish to make a partial withdrawal from. If it doesn't appear in the list, it is not eligible for online submission and must be submitted via hardcopy form.
- Under “Type of Request,” select “Partial withdrawal” and provide the reason for withdrawing from your policy.
- Follow the on-screen instructions to complete the process. You will receive a notification once the request is processed.
Cancel or surrender a policy
- Log in to your account via MyManulife or the Manulife SG App.
- Click on the "Services" tab, followed by “Surrender/Withdrawal".
- Choose the policy you wish to surrender. If it doesn't appear in the list, it is not eligible for online submission and must be submitted via hardcopy form.
- Under “Type of Request,” select “Full surrender/withdrawal” and provide the reason for surrendering your policy.
- Follow the on-screen instructions to complete the process. You will receive a notification once the request is processed.
Apply for partial withdrawal of an investment linked policy, cancel or surrender a policy via form submission
Who is this for:
- Applicable for universal life policies and policies placed under trust*, as well as policies that are on hold.
*Trust policies are those set up under Section 132 (formerly S49L) of the Insurance Act 1966 or Section 73 of the Conveyancing and Law of Property Act 1866.
- Download and complete the Surrender/Withdrawal Form.
For High‑Net‑Worth policies, such as the Manulife Signature series and Variable Universal Life plans, please click here and refer to the “High net worth policy matters” section to download the relevant form. - 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 in to 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.
For full surrender of investment-linked policies
Approach your Representative who will be able to assist you on this matter.
For termination of policies during freelook period
Approach your Representative who will be able to assist you on this matter. The refund process will take 5-10 Business days after we receive your request.
- For non-investment linked policy
We will refund 100% of the premium without interest, less any medical and other expenses incurred by Manulife.
- For investment linked policy
We will refund the market value of the investment units of the policy, less any medical, welcome bonus (if applicable) and other expenses incurred by Manulife.
If you do not have a Representative, or if your policy has a trust arrangement, you may submit the request via the Contact Us form.
How do I check my surrender value?
1. Log in to your account via MyManulife or the Manulife SG App.
2. Select the relevant policy from the dashboard.
For non-investment linked policies
3. Under the "Financial information" tab, scroll to the bottom of the page. Find the Net Surrender Value under "Surrender" or "Net surrender value".
For investment linked policies
3. Under the "Investment & Balance" tab, scroll to the bottom of the page. Find the Surrender Value under "Financial Information".
1. Log in to your account via MyManulife or via the Manulife SG App.
2. Select the relevant policy from the dashboard.
3. Under the "Premium payment" tab, find the Total premiums paid to date under "Premium details".
How will I receive my payout if I surrender my policy?
For non-trust policies:
- Cash-funded policy – proceeds will be paid directly to the Assignee/Policyowner through PayNow, Electronic Fund Transfer (EFT) or Telegraphic Transfer (TT).
- 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 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.
When will I receive my payout if I surrender/make a partial withdrawal from my policy?
Processing time (excluding payout disbursement):
For requests received before 3pm, processing will take an additional 3 business days.
For requests received after 3pm, processing will take an additional 4 business days.
Note:
Investment-linked polices
Processing may take longer due to fund holidays or pending transactions (such as monthiversary processing, loyalty bonus or any uncompleted fund transactions). Your request can only be processed after all pending transactions are completed, which might extend the overall processing time.
Payout Disbursement Timeline
Once your surrender/partial withdrawal request is processed, additional time is needed to arrange the payout based on your chosen payout method:
Payout Methods
- PayNow: Up to 1 business day
- Electronic Fund Transfer (EFT): 3 business days
- Telegraphic Transfer (TT): 3 business days
- CPF OA/SRS: 2 business days
- CPF SA: 1 business day
Notes:
- For CPF OA/SRS Policies: The amount will be credited to your investment account with your agent bank. Please contact your agent bank for payout details after the processing period.
- For CPF SA Policies: The amount will be credited to the CPF Board. You may contact the CPF Board for assistance.
As Singapore transitions to a cheque-free society, Manulife is adopting digital payment methods to ensure seamless and secure transactions. We encourage you to update your payout method to one of our secure and convenient digital options to avoid delays in receiving your payouts.
To apply for PayNow or Electronic Fund Transfer (EFT) click here.
Processing & Payout Disbursement Timeline (before 3pm)
Example
| Description | Day | Remark |
| Request received | Monday | Surrender request received before 3pm |
| Processing completed | Thursday | 3 business days after request received |
| Payout via PayNow | Thursday | Same day as process completion |
| Payout via EFT (DBS/POSB) | Following Monday | 2 additional business days after Thursday |
| All other payout methods | Please add additional business days for payout distribution | |
How do I terminate riders or supplementary benefits?
You may wish to get in touch with your Representative to discuss the options for your policy.
If you would like to apply for changes to your rider or supplementary benefit, please complete the and submit the completed form to us via one of the following channels:
- Upload the form to our customer portal MyManulife or via the Manulife SG App (refer to steps below).
- Email to us at forms@manulife.com.
How to upload form to MyManulife
1. Log in to 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.
How do I find my servicing Representative?
1. Log in to your account via MyManulife or the Manulife SG App.
2. Click on "Policies" and select the relevant policy.
3. Under the "Policy Information" tab, scroll to the bottom of the page to check the servicing Representative for your policy.
If your policy does not have any assigned Representative, you may contact us via the Contact Us form.
How do I request for Withdrawal/Surrender if I do not have a Representative or if my policy has a trust arrangement?
If you do not have a Representative or if your policy has a trust arrangement, you may submit the request via the Contact Us form.
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.
