Withdraw coupons, cash benefits and bonuses
This option allows you to withdraw your accumulated coupons, guaranteed cash benefits, survival benefits, retirement income benefits or bonuses, either partially or in full.
What you need to know
- Depending on your policy features, you may receive regular payouts such as coupons, guaranteed cash benefits, survival benefits, retirement income benefits and bonuses during the policy term. You may choose to withdraw these payouts or leave them accumulated at the prevailing non-guaranteed interest rate, currently 3% per annum.
- You may withdraw your accumulated payouts partially or in full. The minimum withdrawal amount is S$500, or the full amount available under your policy, whichever is lower.
- Any withdrawal of accumulated payouts will first be used to offset any outstanding policy loan. Any remaining balance will then be paid to you.
Please note that policies with the following requests or statuses are not eligible for online submission:
- Accumulated Annuity Withdrawal requests
- Accumulated Retirement Income Benefit Withdrawal requests
- Bonus Withdrawal requests
- Universal Life policies
- Policies placed under trust*
*Trust policies are policies with a trust nomination under Section 132 (formerly Section 49L) of the Insurance Act 1966 or Section 73 of the Conveyancing and Law of Property Act 1886.
- 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.
For Coupons/ Guaranteed Cash Benefits / Survival Benefits withdrawal
1. Log in to your account via MyManulife or the Manulife SG App.
2. Click on the "Services" tab, then select "Accumulated payout withdrawal".
3. Choose the eligible policy from which you wish to withdraw your payout.
4. You will see a breakdown of the maximum withdrawal amount available for your policy.
5. Choose whether to make a partial or full withdrawal and indicate the withdrawal amount if necessary.
6. 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
- Accumulated Annuity Withdrawal requests
- Accumulated Retirement Income Benefit Withdrawal requests
- Bonus Withdrawal requests
- Universal Life policies
- Policies placed under trust*
*Trust policies are policies with a trust nomination under Section 132 (formerly Section 49L) of the Insurance Act 1966 or Section 73 of the Conveyancing and Law of Property Act 1886 - 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 Coupon/Reversionary Bonus Withdrawal Form.
- If you would like the proceeds to be transferred to another policy you own, please provide the transfer instructions in Section 3 of the form.
2. 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.
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 coupons, guaranteed cash benefits, survival benefits, retirement income benefits or bonus?
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.
Payout processing time
Once your withdrawal request is processed, additional time is needed to arrange the payout based on your chosen method:
- PayNow‑NRIC/FIN
- S$200,000 and below: Up to 1 business day
- Above S$200,000: 3 business days
- Electronic Fund Transfer (EFT):
- DBS/POSB bank: 2 business days
- All other banks: 3 business days
- Telegraphic Transfer (TT): 3 business days
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 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.
