Deferment of Premium Payment under Covid-19 Relief Program

The PDP is intended to give eligible policyowners whose premium due date is from 18 March 2020 to 31 December 2021, a deferment period of 3 months to pay the premium for their insurance policy. During this deferment period, Manulife will continue to provide insurance protection.

Note: This is NOT an automatic premium deferment program. Therefore, policyowners must approach Manulife to apply for the deferment.

This PDP is open to all in-force Manulife policyowners who are financially affected* by COVID-19 or the Movement Control Order (MCO).

“Affected policyholders” are:
(a) Individuals who have been infected by COVID-19, subject to mandatory home quarantine or those who have suffered a loss of income as a result of the COVID-19 situation; and

(b) Small and medium-sized enterprises (SMEs) that have suffered a loss of income as a result of the COVID-19 situation. Examples of events that led to such loss of income:

a. For individuals – retrenchment, shorter working hours, no-pay leave, salary or commission cuts; and

b. For self-employed and SMEs – loss of business income.

a) Policies on premium holiday

b) Policies that have lapsed or premium is not up to date

c) Policies that have sufficient value in their Future Deposit Fund (FDF), Cash Dividend (CD), and/or Guaranteed Cash Payment (GCP)*fund accounts to cover 3 months’ premium.

(*For Universal Life Policies which have sufficient value in GCP fund account to cover 3 months’ premiums, policyowner can choose to authorise Manulife in writing to deduct the fund value to meet the 3 months premium, or proceed with the PDP.)

The policyowner may apply now, until 31 December 2021. The deferment of premium, if approved by Manulife, will be up to a maximum of 3 months from the next premium due date.

Yes, Policyowner must pay back the deferred premium(s) once the deferment period ends to avoid lapsation of policy.

a) For Ordinary Life/Universal Life/Medical Standalone policies
All outstanding premiums need to be paid to avoid policy lapsation. However, for Ordinary Life Policies, there are options that you may opt for. Please refer to Q28 for re-application of PDP and Q29 onwards on Interest-Free Instalment Plan.

b) For Investment-Linked policies
Policyowner must resume payment of at least one modal premium and/or perform top-up to ensure better sustainability of the policy, and avoid any Premium Holiday Charge, where applicable.

Policyowners may submit their application by sending the following documents to

MYLife_CustomerService@manulife.com with the email subject of, Premium Deferment Application for Policy Number xxxxxx

Documents Required:

i. Application for 3-Month Deferment of Premium Payment Form (LF 1742); and one of the following supporting documents:

ii. Doctor’s letter confirming COVID-19 infection (if the individual has been infected).

iii. Letter or Notification of Instruction to quarantine from the relevant health authorities for Persons Under Investigation (PUI) or Direct Contact.

iv. For employed Policyowners:

• a letter of termination of employment or reduced salary notification;
  or
• Letter of Closure of non-essential businesses by the Business Owner;
  or
• Other relevant documentations that can substantiate loss of income.

IMPORTANT: To safeguard customers' interest and ensuring authenticity of the requests, Manulife will only accept application received from the email address that the Customer has registered with us. Customers can update their contact details on the Application for 3-Month Deferment of Premium Payment Form. For more information, please contact Customer Care Hotline at 1300-13-2323 or 03-27199112.