Automatic Premium Loan allows you to pay your premium from your policy’s Net Surrender Value with an interest rate determined by us, starting from the date instalment premium was due. The current interest rate is 6.5% compounded per annum. This feature will be activated if we do not receive your premium payment after the grace period. You will be notified if Automatic Premium Loan is successfully activated.

If the Net Surrender Value becomes lesser than the instalment premium at any time during the policy term, Automatic Premium Loan will be suspended, and you will be required to resume premium payment so that the policy will not be automatically terminated.  

For all plans except Disability and Hospitalisation plans, you may consider changing your premium payment frequency to monthly instalment in order to make it affordable during the times of financial difficulties. To proceed, please submit the Request for Changes to Individual Life Policies Form to cs_life@aviva-asia.com. 

By converting to a Reduced Paid Up policy with reduced Sum Assured, you will no longer need to pay your instalment premium. To request for this option, please submit Request for Changes to Individual Life Policies Form to cs_life@aviva-asia.com. You will receive notification of your application status.

Premium Holiday allows you to take a break from paying your premium for a certain period of time as long as there’s sufficient Net Surrender Value. This feature will be automatically activated if we do not receive your premium payment after the grace period. Alternatively, you may contact us to request for Premium Holiday to be activated. Please note that the supplementary benefits (if any) and other options available under the policy shall be automatically cancelled once your policy is on Premium Holiday. You will be notified if Premium Holiday is successfully activated.

If the Net Surrender Value is unable to cover the monthly charges or falls below the Minimum Policy Value, Premium Holiday will be suspended, and you will be required to resume premium payment so that the policy will not be automatically terminated.  If you’re unsure of the monthly charges, log in to MyAviva to check your monthly statements under Document Centre. 

Premium reduction is an option to reduce your instalment premium. To request, please submit

• Investment-Linked Alteration Form for Investment Linked Plans
• Investment Transaction Service Form for Global Savings and Investment Plans
• Request for Changes to Individual Life Policies Form for all other plans

to cs_life@aviva-asia.com. You will receive notification of your application status.

If your policy has Net Surrender Value, you may apply for Policy Loan with an interest rate determined by us, starting from the date on which the loan is disbursed. The current interest rate is 6.5% compounded per annum. If the total amount owing to Aviva Ltd exceeds the Net Surrender Value, the policy will be automatically terminated. To apply for Policy Loan, please contact us to request for a Policy Loan Quotation.

You may choose to reduce the Sum Assured of the basic plan or the supplementary benefits. Alternatively, you may choose to reduce the benefit amount (if applicable). To request for this option, please submit Request for Changes to Individual Life Policies Form to cs_life@aviva-asia.com. You will receive notification of your application status. 

To switch to a hospitalisation plan with lower coverage, please submit Request for Changes to Individual Health Policies Form to cs_life@aviva-asia.com. You will receive notification of your application status.