Change of sum insured

Apply to increase or decrease your sum insured.

DOWNLOAD POLICY DETAILS CHANGE FORM

Instruction

Depending on your policy contract, you may choose to increase or decrease the sum insured for your policy and the attaching riders, where applicable. 

Increase in sum assured is only applicable for selected plans and will be subject to underwriting. 

Please get in touch with your Representative to discuss the options for your policy. 

If you would like to apply for a change in the sum insured of your policy, please complete the Policy Details Policy Details Change Form and submit it to us with the necessary document(s) requested.

What you need to provide

1. Completed Policy Details Change Form* 

*For increase in sum insured, your Representative will assist you in the submission of additional requirements.

FAQs

When does the increase in sum insured take effect?
For traditional policies:
The increase will take effect from the policy effective date. You will be advised of the premium and interest payable, where applicable, for your application. 

For investment-linked policies: 
The increase will take effect from the next monthiversary.

When does the decrease in sum insured take effect?
For traditional policies:
The decrease will take effect on the next premium due date. If your policy has attained cash value, there will be a partial refund of the cash value to you, after offset of any outstanding loan balance, where applicable. 

For investment-linked policies: 
The decrease will take effect from the next monthiversary. 

Who will need to sign the form to activate the change?
For non-trust policies, the Assignee or Policyowner must sign the form.

For a Trust policy under S49L, either of the following parties must sign the form: 
• Policyowner and any one Trustee (excluding the Policyowner), or 
• All Beneficiaries (each Beneficiary must be at least 18 years old) 

For a Trust policy under S73, the Policyowner and all Trustees must sign on the form.