Life Insurance
Protect your loved ones’ future from life’s uncertainties
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{{label}}To further extend our support to help our customers on the deferred premium(s) payment, there are various options you can choose from at the end of Extended Grace Period (EGP).
We will send an SMS four to eight weeks before the expiry of the EGP for you to decide and make an application for your preferred repayment option. Customers who have not provided us with your mobile number, are encouraged to activate My AIA SG Account so that we can contact you.
Customers are advised to approach your AIA Financial Services Consultant/Insurance Representative, so that they can conduct a holistic review on your insurance portfolio. And, thereafter, provide you with professional financial advice on available policy options, to help you adjust your insurance coverage and premiums to sustainable levels that best fits your evolving needs.
Pay all outstanding premiums in a lump sum before the end of your EGP.
No application is required if you select Option 1.
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Simply pay the outstanding premiums before the end of your
Extended Grace Period (EGP) via AIA Pay EZ, AXS or Internet
Banking
Should you fail to make full payment before the end of the EGP deadline given to you, Option 2 (Non-forfeiture Option) will be applied on your policy by default
Select a Non-Forfeiture Option
Activate the Non Forfeiture Options (NFO) applicable to your policy. Please refer to your Policy Contract for more details. No application is required as NFO will be applied onto your policy at the end of your EGP. Similarly, if you didn’t elect a specific option, NFO will be applied onto your policy at the end of your EGP.
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For your information, the typical Non Forfeiture Options (NFO) are listed below. Please refer to your contract for the details.
Policies with surrender value: Automatic Premium Loan , Reduced Paid-Up Insurance, or Extended Term Insurance
Policies without surrender value: Non-forfeiture option not available, policy will lapse without value.
Investment Linked Policies: Premium Holiday will be effected if there is sufficient value to pay for applicable fees and charges.
Pay in Instalments. Please apply online below. Note that you can apply for this only once.
If you are paying premiums on a non-monthly basis#, you can convert the frequency of payment to monthly and pay in instalments via GIRO/Credit Card. Two deductions will be made monthly until all the outstanding premiums are paid.
#A factor will be applied to derive the monthly premiums payable. This may result in the sum of 12 monthly premiums to be higher than 1 yearly premium.
*This instalment payment plan does not apply to the cash outlay for AIA HealthShield Gold Max Plans. If the HealthShield policy is due for renewal during the instalment payment, any cash & medisave monies required for AIA HealthShield Gold Max Plan Renewal will be collected in full. This instalment plan only applies to the cash required for Max Essential A / Max Essential A Saver / Max Essential B / Max Essential B Lite / Max VitalHealth A / Max VitalHealth B / Max VitalHealth B Lite / Max Essential C.
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If you select this option, please …
Setup a recurring GIRO/Credit Card arrangement
if you do not have an existing recurring payment
arrangement for your policy
Ensure you have enough funds for 2 deductions every month for 6 months
Please maintain sufficient funds for deductions. If you
have 2 or more unsuccessful deductions, Non-Forfeiture
Options may be triggered. We strongly encourage you to
maintain sufficient funds/credit limit in your designated account.
Apply to Extend EGP for Another 6 Months. Please apply online below. Note that you can apply for this only once.
If you select this option, we will inform you of the new expiry date of the Extended EGP.
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If you select this option, all deferred premiums will have to be paid in full before the expiry of the Extended EGP.
Do pay in full all the deferred premiums via AIA Pay EZ, AXS or Internet Banking before the new Extended EGP expiry date.
If full payment is not received by the Extended EGP expiry date, NFO as specified by your Policy Contract will be applied onto your policy at the end of the Extended EGP.
If you are unable to pay the deferred premiums in full, the Non-Forfeiture Options (Option 2) of your policy will be activated by default. Other options available are: repay by instalments (Option 3) or request for a further 6 months extension (Option 4).
To apply for the other options, please proceed to the steps below:
CHECK IF YOU ARE ALREADY ON EGP
If you are, you would have received a confirmation letter from us.
SUBMIT APPLICATION
WAIT FOR OUTCOME
We will write to inform you on the outcome of your application within 5 working days. You may also access My AIA SG to view the notification letter.
Should you have questions on the deferred premium payment options, please refer to the Frequently Asked Questions. Alternatively, you may also contact our AIA Customer Care hotline at 1800 248 8000, send us a message or contact your AIA Insurance Representative.