Why opt in?
To support Singapore's vision to be chequeless by 2025, Income has integrated PayNow to provide customers with a fast and convenient way to receive policy proceeds.
Terms and Conditions
By opting in, you agree to Income’s privacy statement, as well as terms and conditions to this service.
Want to opt-in?
Receive your policy payouts directly into your bank account, no more waiting for cheques to be mailed to you!
How it works
About PayNow NRIC/FIN
PayNow NRIC/FIN is an electronic fund transfer that allows you to receive funds conveniently using your NRIC or FIN without the need for bank account details or documents.
You can register for PayNow NRIC/FIN via internet banking with any of the PayNow NRIC/FIN participating banks. During registration, you are required to link your NRIC/FIN to your bank account.
Signing up for PayNow NRIC/FIN
To register for PayNow using your NRIC/FIN, please log in to your bank's internet or mobile banking account to sign up for this service. For more information and steps to sign up, please contact your bank or check out the FAQs provided by the various participating banks below:
Registering to receive funds via PayNow NRIC/FIN
Please note that you will need to register for PayNow NRIC/FIN first before you can receive policy payouts from Income into your bank account via PayNow NRIC/FIN.
You can opt-in to receive your future policy payouts from Income via the form on this page.
Payouts from Income paid through PayNow NRIC/FIN
Income's life insurance policy payouts will be disbursed via PayNow NRIC/FIN, including:
- Maturity payouts
- Annuity payouts
- Cash benefits payouts
- Recurring payouts
The above list will be expanded when more types of payouts are included.
Benefits of opting in to receive policy payouts via PayNow NRIC/FIN
PayNow NRIC/FIN is a convenient mode of receiving payout. These are the benefits for choosing PayNow NRIC/FIN:
- Payouts are directly credited into your PayNow NRIC/FIN. Save your trip to present the cheque. No need to worry about missing cheques or wrong account numbers!
- No additional documentation such as proof of identity or bank statements is required.
- You can change your preferred crediting bank account at your convenience 24/7 without submitting a new request to Income.
- No longer need to deposit cheques.
