What shall I do if I do not have enough money in my bank account for the monthly GIRO deduction?

You may wish to visit our Customer Service Hall at 4 Shenton Way #01-01 SGX Centre 2 Singapore 068807 to pay your premium using cash/NETS/cheque before the last business day of the month.
Please arrange for electronic payment via AXS, Bill Payment or Interbank Funds Transfer. You may refer here for the available payment methods.  

How can I make my monthly premium payment if I have insufficient funds in my GIRO account and am currently not in Singapore?

You may wish to make arrangement with your family members in Singapore to make the payment. They can visit our Customer Service Hall at 4 Shenton Way #01-01 SGX Centre 2 Singapore 068807 to pay the premium using cash/NETS/cheque before the last business day of the month.
Please arrange for electronic payment via AXS, Bill Payment or Interbank Funds Transfer. You may refer here for the available payment methods.  

How do I change my GIRO bank account?

Please complete a new GIRO application form and mail the form back to Singlife Ltd. Please note that you should not terminate your existing GIRO bank account until your new GIRO bank account is approved.

If you have terminated your existing bank account, please submit a new GIRO application form together with 3 months' premium payment via cheque made payable to 'Singlife Ltd'. On the reverse side of the cheque, please indicate your policy number (s), Client Reference Number, contact number and "Payment for MINDEF & MHA Group Insurance".

However, if you are changing your GIRO bank account between POSB Bank and DBS Bank, you can simply do so by visiting any of the bank branches and the change can be effected immediately. The Bank will keep us informed of the change.

You may refer to the GIRO application instructions here.

When will the premiums be deducted from my GIRO account?

GIRO deduction is done on the 10th of every month. If the deduction is unsuccessful, a 2nd attempt will be done on the 25th of the same month. If the deduction dates fall on a weekend or public holiday, the banks will bring it forward to an earlier working day.

What is the grace period for payment of premium?

The grace period begins on the premium due date and lasts for 30 days.

Is there a free look period?

Within fourteen (14) days upon receipt of the Policy, you may write to us to cancel the Policy. After we have received the original Policy for cancellation, we will refund the premium you paid (without interest) after deducting any expenses incurred in issuing the policy and any amount of claim that were paid out. If the policy is sent to you by post, you are considered to have received it seven (07) days after the postage.

Will I receive annual renewal notice?

There is no annual renewal notice or renewal letter. The policy year starts on 1 July of the current year to 30 June of the following year for MINDEF/SAF insured persons; 1 July of the current year to 30 June of the following year for MHA insured persons. Renewal is automatic every year, all the way up to age 70 (ANB). However, once a year you will receive a statement from Singlife Ltd on your insurance coverage and the premiums you had paid for the preceding year.

Insured members/insured affiliate members who pay premium yearly will receive a billing notification, one month before the expiry of the policy year.

Will a new policy document be given to me upon renewal every year?

No. Renewal is automatic up to age 70 (ANB). You will be issued with a simple insurance certificate when you first sign up. However, once a year at the close of every calendar year, Singlife Ltd will mail to all insured members/insured affiliate members a statement on their insurance coverage and the premiums they had paid in the preceding calendar year. The information in the statement is also to facilitate your filing for income tax reporting.

Once the premium is paid, does Singlife issue a receipt?

For insured persons who pay cash at the Customer Service Hall, a receipt will be issued. No receipt is offered for those who paid by cheque.

Can the premiums paid be used for tax relief?

Yes, the premiums can be used for income tax reporting, subject to the conditions set by the Inland Revenue Authority of Singapore (IRAS). Singlife will send a consolidated premium statement in the beginning of each calendar year to all insured members/insured affiliate members for premiums paid in the preceding calendar year, for tax reporting.

This webpage is published for information only and Singapore Life Ltd. accepts no liability whatsoever with respect to its use or its contents.

The information contained here is accurate as at 16 Aug 2022.