Check my policyHome / Surrender guides / Whole life
Surrendering a whole life policy ends it, and your life cover with it, usually for good. Your insurer pays the net surrender value: the policy's cash value and the cash value of bonuses added, less any loan. Check first whether you still need the cover, and whether keeping, borrowing or selling would leave you better off.
Last reviewed 15 October 2026
Get new cover in force before you end the old one. Replacing your cover
After any loan, interest and premiums owing. How to calculate it
A loan or a paid-up policy keeps some cover; a sale may pay more. Keep, sell or surrender
The one for traditional plans, downloaded on the day. All insurer forms
And keep the acknowledgement. Documents checklist
Or to the high age set in the policy. Replacing it later may cost more, or may not be possible if your health has changed.
Including any terminal bonus, which is often paid only on a claim or at the end of the policy. How bonuses work
Critical illness, waiver of premium and other riders usually end with the policy.
Whole life cash values build slowly and can stay below the premiums paid for many years. Surrendering early usually locks in a loss.
Rules differ by plan. Your insurer confirms what yours allows.
Cash now, cover kept, repayable. Loan or surrender
Stop premiums and keep smaller cover for life. Paid-up policies
Lower premiums for lower cover, sometimes with part of the value paid out. Partial surrender
For a participating whole life policy, a buyer may pay more than surrender value. We look case by case. Selling whole life
Forms, channels and documents for each insurer.
Yes, while it has a cash value. Early in the policy, though, the value is usually far below what you have paid.
Often not for many years. Your benefit illustration shows when the surrender value is expected to pass the premiums. Reading a benefit illustration
Some plans let you reduce the sum insured and take part of the value. Ask your insurer.
It ends with the policy, because there is no longer a death benefit to pay.
We look at participating whole life policies case by case. No NRIC, no obligation.