Withdraw Coupons / Survival Benefits / Bonus
This option allows you to withdraw your accumulated coupons, survival 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, cash benefits, survival/income benefits, and retirement income during the policy term. You can choose to withdraw these payouts or accumulate them with Manulife to earn interest at a current rate of 3% per year.
- You may request to withdraw your accumulated coupons partially or in full. The minimum withdrawal amount is S$500, or the full amount available under your policy, whichever is lower.
- Any coupon withdrawal will be used to offset any outstanding loans before the remaining amount can be paid out.
Instructions
Instructions
- Log in to your account on MyManulife or the Manulife SG App.
- Click on the "Services" tab, then select "Accumulated payout withdrawal".
- Choose the eligible policy from which you wish to withdraw your payout.
- You will see a breakdown of the maximum withdrawal amount available for your policy.
- Choose whether to make a partial or full withdrawal, and indicate the withdrawal amount if necessary.
- Follow the on-screen instructions to complete the process. You will receive a notification once the request is processed.
Note: Online submission is not available for policies with annuity and retirement income. For these policies, please submit the Coupon / Bonus Withdrawal Form.
Apply for Accumulated payout withdrawal via form submission
- Download and complete the Coupon / Bonus Withdrawal 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 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 coupon, survival benefit, guaranteed cash benefit or bonus?
Withdrawal processing time (excluding payout processing): 4 business days
Payout processing time
Once your withdrawal request is processed, additional time is needed to arrange the payout based on your chosen method:
- PayNow: Up to 1 business day
- Electronic Fund Transfer (EFT):
- DBS/POSB bank: 2 business days
- All other banks: 3 business days
- Telegraphic Transfer (TT): 3 business days
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.
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.
