All other FAQ

Customer Knowledge Assessment

What is Customer Knowledge Assessment (CKA)?

Customer Knowledge Assessment (CKA) is an assessment to ascertain a retail customer's financial knowledge and experience to understand the risks and features of unlisted Specified Investment Products (SIPs) prior to any purchases.

What is a Specified Investment Product (SIP)?

Specified Investment Products (SIPs) are financial products that may not be as widely understood by retail investors. This is because these products have structures, features and risks that may be more complex in nature. There are two categories, listed and unlisted. 

Examples of the unlisted SIPs relevant to Navigator and Aviva are: 

  • Collective Investment Scheme (commonly known as "unit trusts")
  • Investment Link Product ("ILP")

Who is affected?

Customers who intend to purchase or trade unlisted SIPs are required to undergo CKA.

How is CKA conducted?

Customers are required to answer a simple questionnaire and provide factual information of themselves in the following areas:

  • Educational qualification - Diploma or higher qualifications in one of the following fields: 

Accountancy, Actuarial Science, Business / Business Admin, Capital Markets, Commerce, Economics, Finance, Financial Engineering, Financial Planning, Computational Finance, Insurance or possess any other professional finance-related qualification

  • Work experience – A minimum of 3 continuous years of working experience1 in the preceding 10 years involving the following fields:

- Development / Structuring / Management / Sale / Trading / Research / Analysis of Investment Products

- Provision of training on Investment Products, Accountancy, Actuarial Science, Treasury, Financial Risk Management and Legal work in related financial areas

1 Provision of general support functions in the above mentioned areas that are administrative or clerical in nature will not be considered as relevant experience.

  • Investment experience - At least 6 transactions in an Unlisted SIP in the preceding 3 years.

To qualify for the CKA, you only need to satisfy ONE (1) out of the above 3 criteria. 

For more details, please refer to MAS publication - Regulatory Regime for Listed and Unlisted Investment Products.


How do I complete the CKA?

Please contact your financial adviser who will be able to provide you with the necessary CKA form for completion and acknowledgement.

The CKA form will:

(1) Assess your educational qualification, work experience and investment experience and;

(2) Provide you with your CKA outcome.

How long is my CKA valid?

The positive outcome of your CKA is valid for one (1) year from the date of assessment.

I failed my CKA. What does it mean for me?

Please contact your financial adviser. They will be able to guide you through the steps required for you to purchase or trade unlisted SIPs. 

Failing the CKA does not prevent you transacting in unlisted SIPs. You will, however, be required to seek advice from your financial adviser with the outcome of purchasing products that are suitable for your financial needs/risks.

I use your MyAviva platform. Has anything changed on MyAviva for CKA?

We have updated the web portal to capture your CKA outcome when you approve transactions created by your financial adviser online.

During the online transaction, your adviser will be able to capture, and you will be able to acknowledge, the "CKA outcome" from the CKA form.

Any additional resources I can refer to?

You may wish to refer to the following resource(s) for more details.

Personal Data Protection Act – Data Protection / Do-Not-Call

Where can I find out more about the Personal Data Protection Act (PDPA)?

For more information on Aviva's data protection policy, please visit

Attaching Riders

How do I get advice on the type of riders that can be added to my basic Policy plan?

Contact us for assistance with selecting the right riders for your policy.

How do I obtain a quotation for a rider?

Contact us for assistance getting a rider quotation.

Policy Loan

How can I apply for a Policy Loan?

You can apply for a Policy Loan by using our Contact Form to request a loan application.

What are the minimum and maximum Policy Loan amounts I can request?

The minimum Policy Loan amount is S$200. The maximum Policy Loan amount up to 90% of the Policy Cash Value, minus any indebtedness.

How quickly can I receive my policy loan amount?

You can receive your policy monies in several different ways:

  • For Cheque amounts below S$50,000, you can request a 2-hour cheque service by calling our Customer Service Hotline at 6827 9933. Call before 3pm to have your cheque ready in two hours, available for collection at our Customer Service Centre.
  • You may also opt for a 1-hour cheque service by visiting our Customer Service Centre, personally before 3pm.
  • Standard cheque requests are ready within 2 working days.
  • With direct crediting requests, the loan amount is credited to your bank account within 3 working days.

Maturing of a Policy

How will I know and will I be notified of the maturity of my Policy?

A letter of notification will be send to you one month before the maturity date together with a Payment Instruction Form (if applicable) for completion. Alternatively, you may refer to your Policy Schedule for the maturity date of your policy.

When will I be notified of the maturity of my Policy?

You will be notified 1 month before the maturity date when we mail the Payment Instruction Form to you for completion.

What is my Policy's projected return at maturity?

Contact us for a projected Maturity Quotation. However, this projected value assumes prevailing bonus rates remain unchanged does not reflect any outstanding loans or other indebtedness.

Surrendering of a Policy

When can I surrender my Policy?

Once your policy acquires a Cash Value, you can surrender it at any time.

How do I know the amount of Cash Value acquired by my Policy?

Contact us to determine your policy's Cash Value.

What documents will I need to submit when I want to surrender my Policy?

Can I surrender part of my Policy? If yes, how much can I surrender?

For an investment linked policy or the investment linked portion of a policy, you can partially surrender these policies by completing the Withdrawal/Surrender Form for Investment Linked Policy. Mail these forms, along with a copy of the Life Assured's NRIC, to Aviva.

For a non-investment linked policy or the non-investment linked portion of a policy, you can only partially surrender the entire non-investment linked policy or the entire non-investment linked portion of a policy if your policy is a single premium plan, or a regular premium policy, unless otherwise specified in the policy contract.

A regular premium plan is one with a premium that is paid monthly, quarterly, half-yearly, or annually. You can partially surrender these policies by contacting us to request a Reduction in Sum Assured Quotation.

When can I receive the Policy proceeds?

Upon receipt of all documents duly completed and signed, you will receive the Policy proceeds as shown:

For Investment Linked Policy:

  • We will send you payment through cheque within 5 working days.
  • For CPF accounts, an additional working day is required.

For Global Investment Linked Policy:

  • We will send you payment through cheque within 14 working days.

For Non- Investment Linked Policy:

  • We will send you payment through cheque within 3 working days. For CPF accounts, an additional working day is required.

Assigning a Policy

How do I assign a Policy?

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. Legal capacity requirements must be met: all parties must be over 18 years of age, of sound mind, and cannot be an undischarged bankrupt.

You can make a Collateral Assignment by:

  • Contacting us to request assistance.
  • Contacting the bank or organization that will become the assignor of the policy for security or collateral. Some banks and other institutions have their own collateral assignment procedures.

Converting to Paid-Up Policy

How do I check my Policy's paid-up value?

Contact us for assistance with determining your Policy's paid up Value.

How do I update my new contact information?

Nomination of Beneficiaries

To whom does the nomination of beneficiary(ies) framework apply?

The new framework will apply to a life policy or an accident and health policy which

  • is issued by a registered insurer in Singapore
  • governed by Singapore law
  • provides death benefitsis effected by the policy owner on his own life1 (Please refer to question: "Can an employee under a Group Insurance policy make a nomination?")
  • is not the subject of any trust created under Section 73 of the Conveyancing and Law of Property Act (Cap.61)
  • is not an annuity purchased with the minimum sum scheme under the Section 15 (6C) of the - Central Provident Fund Act.

Note: The policyowner must be at least 18 years old at the time of making the nomination.

Can an employee under a Group Insurance policy make a nomination?**

No. Group Insurance Policy covers a group of people under a master policy. Usually the employer will buy this type of policy for the benefit of its individual employee. Hence, the insurance company will issue the master policy to the company and the company is the policyowner.

For an employee, the benefits of the master policy go to him as a form of employee benefits but he does not own the policy. As the policyowner (i.e. the company) is not also the life assured, nomination is not allowed1. (Please refer to question: "To whom does the nomination of beneficiary(ies) framework apply?")

Can I make a nomination for a policy that I own under Aviva SAF Group Term Life/Health Plan?

No. The SAF policy falls under a group policy**. (Please refer to question: "Can an employee under a Group Insurance policy make a nomination?")

Can joint lives policy make a nomination?

No. As the ownership of the policy will vest with the surviving policyowner if the other policyowner passes away.

Can I make nomination under the new framework if I had already nominated both spouse and/or children as beneficiaries under the old Section 73 framework?

You may revoke the nominations only if all existing beneficiaries, who have attained the age of 21 to give their consent for the revocation. Thereafter, you can make a new nomination.

How do you make a nomination?

You must complete the prescribed nomination form and submit the original completed form to Aviva Ltd for registration. The forms can be downloaded here.

What do you need to take note when completing the forms?

You need to take note of the following:

  • For irrevocable nomination, only spouse and/or child of the policyowner can be the nominee.
  • The witness(es) must have attained the age of 21 years old
  • Ensure all fields in the nomination form are fully completed
  • The total for share of nominee must add up to 100%.
  • Only original copies of the nomination form can be registered.
  • You must read all instructions and notes stated in the nomination form before completing it with due care.

Note: Please refer to these guides (English version and Chinese version) for more information.