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Convert to a reduced paid up policy

Apply to use your policy’s cash value to convert your existing policy into a reduced paid‑up (RPU) policy.

What you need to know

  • If your policy has accumulated cash value, you may be able to convert it to a reduced paid-up (RPU) policy.
  • When a policy is converted to RPU:
    • The sum insured will be reduced; and
    • No further premium payments will be required.  
  • The life insured will continue to be covered for the reduced sum insured, subject to the terms and conditions of the policy.

Instructions

1.  Download and complete Section 5G of the Policy Details Change Form.

2. 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).

3. 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.

FAQs

 

1. Log into 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 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.