While the surrender value is lower than the single premium paid, you can request to partially withdraw your Endowment Series Three policy by getting back part of the single premium paid without incurring surrender charge and without interest, upon the following events.
1. Medical reasons
If you or your spouse is certified by a registered medical practitioner to:
- be physically or mentally incapacitated from ever continuing in any employment; or
- have a severely impaired life expectancy; or
- lack capacity within the meaning of Section 4 of the Mental Capacity Act (MCA) and the lack of capacity is likely to be permanent; or
- be terminally ill
2. Life stage events
- If you get married; or
- If you become a parent by giving birth to a child or legal adoption of a child; or
- If you purchase a new house
3. Financial reason
- If you get retrenched involuntarily
You can exercise this free withdrawal option subject to the following conditions:
- Any of the above-specified events has to occur after the policy is issued; and
- The maximum partial withdrawal amount is the lower of $50,000 or 50% of the single premium paid; and
- You can only exercise this option once throughout the whole policy term.
You can submit your partial withdrawal request to email@example.com together with the relevant documents. We will process your request and get in touch with you should we require further information.