Policy Servicing - Policy Changes

• Attaching Riders
• Assigning a Policy
• Converting To Paid-Up Policy
• Updating Personal Contact Information
• Other Changes to Your Policy

Attaching Riders

Riders represent additional benefits that can be added or attached to your existing Policy to enhance the coverage, with the payment of additional premiums. Riders offer flexibility of choice to suit the different needs of individuals. Use these option benefits to customise coverage to meet your specific needs.

Which riders can be added to your basic Policy plan varies according to the existing plan type and its term. Hence, your plan type and term determine which riders that can be added.

Riders can only be attached to a plan on its Policy anniversary. The rider premium is based on:

• The type, sum assured, and term of rider being added
• Your occupation and age at next birthday, based on the Policy anniversary date, on which the new coverage commences
• All riders must be assessed and approved by our underwriters

Contact us for assistance learning which type of riders can be added for your policy and to receive a rider quotation. This should be done at least 1 month before the policy anniversary.

Back to top

Assigning a Policy

The transfer of all rights under an insurance Policy from one party (the assignor) to another (the assignee) is called assignment. You are required to notify us of these changes, although Aviva is not responsible for determining the validity of an assignment.

The most common types of assignment are:

• Absolute Assignment (Deed of Assignment), where all rights under the Policy are transferred from the assignor to the assignee without any conditions
• Collateral Assignment, where all rights under the Policy are transferred to the assignee, usually a bank, as collateral or security for a loan granted to the assignor

You can make an Absolute Assignment by:

• Arranging for both the assignor and assignee to visit us personally, with their NRICs, at our Customer Service Centre
• All parties must be over 21 years of age, of sound mind, and cannot be an undischarged bankrupt

You can make a Collateral Assignment by:

• Contacting us, or contacting the bank or organisation that will become the assignor of the policy for security or collateral
• Some banks and other institutions have their own collateral assignment procedures

Back to top

Converting To Paid-Up Policy

Once the Policy has acquired Cash Value, you can choose to stop payment of future premiums by converting the Policy to paid-up status. Conversion to reduced paid-up assurance means that you can continue to remain insured for the same policy term but at a reduced sum assured amount.

Contact us for assistance if you wish to determine your Policy's paid up value.

Back to top

Updating Personal Contact Information

To help us serve you better, please notify us of any changes in your contact information, including your address, email address, and phone numbers. This ensures that we can always reach you in a timely manner.

You can update your contact information by:

• Contacting us for assistance with updating your personal information
• Download a Request for Changes for Individual Life Policies Form and return it by mail or fax

Back to top

Other Changes to Your Policy

To request other changes to your policy, including Reduction in Sum Assured or Increase in Basic Premium, please contact us, or download a Request for Changes for Individual Life Policies Form and return it by mail.

Back to top