Maturity Payments

For policies bought with cash and you have already opted for PayNow as your Preferred Payout Option, you will  receive your maturity payment via PayNow registered with your NRIC/FIN by the maturity date. Else, we will send you a cheque unless otherwise instructed. For more information on PayNow, you may visit this page.

For policies bought with CPFOA or SRS funds, we will pay directly to your investment account with your agent bank. For CPFSA policies, we will pay directly to the CPF Board.

From two months to at least 21 days before the policies mature, you may choose to credit your maturity proceeds to your personal bank account by submitting your request and a clear copy of your bank book or recent bank statement dated within last six months here.

Please note that we will only accept maturity instructions two months before your policy mature.

No. Once the policy has matured, premium deduction will cease immediately.

We will deduct the policy loan and its interest from the maturity proceeds and only the net amount will be paid to you.

If the policy is assigned under absolute assignment¹, the maturity proceeds will be paid to the assignee.

¹An absolute assignment is the transfer of a life policy to another person. The person who transfers the policy is called the assignor. The person who takes over the ownership of the policy is called the assignee.

Proceeds will be paid to the beneficiaries (at least age 21). Alternatively, the proceeds can be paid to all trustees.

Proceeds will be paid to the beneficiaries (at least age 18). Alternatively, the proceeds can be paid to any trustee who is not the policyholder.

You can send your enquiry via our online form or contact our Customer Service Officers on 6788 1122 to find out the status of your policy and payment.

Not necessarily. Proceeds can only be paid to you directly if you have you have closed your investment accounts (CPFIS-OA, CPFIS-SA). Your investment accounts will only be closed under these two situations:

1. You have applied to CPF Board to withdraw all the excess balances in your Ordinary Account and Special Account (after setting aside the required Minimum Sum and Medisave Required Amount). When you do this, your investment accounts (CPFIS-OA and CPFIS-SA) will be closed. More specifically, CPF Board will close your CPFIS-SA and inform us. For your CPFIS-OA, CPF Board will inform your agent bank to close your investment account and the agent bank will then inform us.
2. You did not withdraw all the excess balances in your Ordinary Account and Special Account. But you have applied to CPF Board to withdraw your investments under CPFISA-OA and CPFIS-SA.

A third party policy refers a policy was taken up by a parent, insuring the life of his child. It is also applicable when a person takes up a policy on the life of a spouse as well. When the policyholder passes away, the policy continues as long as there are premiums paid to maintain the policy.

Upon maturity, we will issue a maturity cheque to the late policyholder’s estate.

The legal representative(s) can use the Grant of Probate or Letter of Administration to open an account in the name of the estate of the deceased Policyholder at any bank. Then, the payment cheque can be presented to this bank account.

A legal representative can be one of the below.

• Executor - when the deceased Policyholder leaves behind a Will. The executor is the person named in the deceased's Will to administer and distribute the deceased's estate according to the instructions in the Will. This executor has to apply to court to obtain the Grant of Probate.
• Administrator - when the deceased Policyholder dies without a Will. Usually, the next-of-kin will apply to the court to obtain the Letters of Administration to be the Administrator.

No, please obtain a Letter of Administration or Grant of Probate and open an estate account to receive the maturity sum.