Payout Options
Your life insurance policy may make benefit payout(s) to you, when applicable. These may include payout of the policy maturity benefit, dividend payouts, etc. Simply put, these are amounts of money being paid out to you from your life insurance policy. We need your standing instruction in how you would prefer to have these amounts of money be transferred to your bank account. This would also be applicable when there is a premium refund, whenever applicable.
- Where can I update my preferred payout method?
- What documents would I need to submit for a direct bank transfer request?
- What is the maximum payout amount that is applicable for a PayNow transaction?
- If I would like to choose PayNow as my preferred payout method, what do I need to do?
- Can I use my preferred payout method for claims-related payout?
- Is third-party crediting allowed?
- What is the currency denomination that the payout can be credited in?
- Can payouts be credited into a foreign bank account?
- What will happen if the policy is assigned, or a trust is created over the policy?
- What will happen if the information I provide is inaccurate or incomplete?
- What do I need to ensure to choose my preferred payout method?
- What kind of transactions can my preferred payout method be used for?
- Can I indicate my preferred payout method?
- What are the payout methods available on the FWD Customer Portal?
- What is a payout?