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Keep, sell or surrender: your six choices

You can do more with a policy you are unsure about than end it. Pick the situation closest to yours and we show the choices that usually fit, in order. Then read each one below.

Last reviewed 15 October 2026. General information, not financial advice.

What is your situation?

I can no longer afford the premiums

You want to stop or cut premiums. Whether you still need the cover decides the order.

  1. Make it paid-up, or pause premiums

    Keeps some cover with no more premiums. Some plans also offer a premium freeze or an automatic premium loan.

    Ways to stop premiums

  2. Sell it, if you no longer need the cover

    A buyer takes over the premiums and may pay more than surrender value.

    Check my policy

  3. Surrender it, as a last step

    Ends the policy for its net surrender value. Usually not reversible.

    How to surrender

Rules differ by plan. Your insurer confirms what your policy allows.

The six choices

Three keep the policy alive. Three end it for you. See them side by side in one table

Keep paying

Hold the policy to maturity. Usually the most money in the end, if you can afford the premiums.

Cash now
None
Cover
Continues
Undo?
Yes

Borrow against it

A policy loan from your insurer, with interest. The policy stays yours. Loan or surrender

Cash now
Up to the loan limit
Cover
Continues
Undo?
Repay the loan

Make it paid-up

Stop premiums and keep a smaller policy. Usually permanent. Ways to stop premiums

Cash now
None
Cover
Reduced
Undo?
Usually not

Withdraw part of it

Some plans allow a partial withdrawal or surrender. The rest of the policy carries on, reduced.

Cash now
Part of the value
Cover
Reduced
Undo?
No

Sell it

A buyer pays you and takes over the policy and its premiums. May fetch more than surrender value. Selling a policy

Cash now
The agreed price
Cover
Ends for you
Undo?
Not once assigned

Surrender it

Your insurer pays the net surrender value and the policy ends. How to surrender

Cash now
Net surrender value
Cover
Ends
Undo?
Usually not

Three examples

Made-up situations to show how the choices compare. Not advice for your own policy.

A short gap in income

Three years from maturity, between jobs, needing cash for six months. A policy loan bridged the gap and kept the maturity payout. Selling would have paid more today but ended the policy.

Premiums no longer affordable

Twelve years left, premiums now a strain, cover still wanted. Making the policy paid-up kept reduced cover with no more premiums. Surrender would have lost the cover entirely.

No longer needed

Four years from maturity, children grown, a lump sum wanted now. A written offer of S$31,500 against a net surrender value of S$30,000 made selling the better of the two ways out.

Illustrations only. Figures are not any real policy or offer.

Choosing: questions

Which choice gets the most money?

Usually keeping the policy to maturity, if you can afford it. The others trade some of that for cash now or lower premiums.

Can I combine choices?

Sometimes. A small loan now and a sale later is possible, but the loan comes off any later sale price or surrender value.

Does every plan allow paid-up or partial withdrawal?

No. It depends on the plan's terms. Ask your insurer what your policy allows before you decide.

Should I get advice?

For a large policy or a hard decision, a licensed financial adviser can look at your whole situation. We are a buyer, not an adviser.

What if I have several policies?

Review them together before deciding on any one. How to review several policies

Thinking of selling? Get the number first

If we would buy your policy, our written offer sits beside your net surrender value. No NRIC, no obligation.

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