There are many ways you can choose to receive a payment from Prudential. Cashless payment is a safe and convenient way to receive payment, and we have many options for you, such as PayNow, Direct Credit and Cheque.
Payments can only be made to policyholders, trustee(s) or assignees of a policy.
All payments will be credited to you via transfer to your PayNow NRIC/FIN ID if you do not have an existing recurring direct credit or other payment arrangements. Terms and Conditions apply.
PayNow - Our Default Payment Mode to You
Receive your policy payouts and proceeds, including refunds, claims and withdrawals, quickly and conveniently with PayNow.
All payments will be credited to you via transfer to a bank account that is linked to your PayNow NRIC/FIN ID. This is unless you have an existing recurring direct credit or other payment arrangement in place.
To successfully receive payment, you will need to register for PayNow with your bank and link it to your NRIC or FIN. Here’s how:
- Log in to your bank’s internet or mobile banking account
- Sign up for PayNow,
- Link your PayNow to your NRIC/FIN.
As our payments can only be made to policy owners, we are not able to make a transfer to you if you only linked PayNow to your mobile phone. Do ensure that you have linked your PayNow to your NRIC/FIN to avoid delays in receiving your payouts.
What If I don't have PayNow?
If you do not currently have an internet banking account with your bank or have not signed up for PayNow, we encourage you to sign up for this service. With PayNow, you can receive faster and more reliable payments and avoid missing cheques or waiting for cheques to be mailed and cleared.
You can also choose to sign up for Direct Credit, so payouts are credited directly into your bank account.
In the event we are unable to pay you via PayNow or Direct Credit, we will arrange for a cheque to be mailed to you. Be sure to keep us updated on your latest address. To check your latest records with us, you can log in to PRUaccess to view your personal details.
Receiving payouts to me via PayNow NRIC/ FIN.
We have integrated PayNow to provide you with a fast and convenient way to receive your policy proceeds. With this service, you can receive future payouts from your policies, such as refunds, claims and withdrawals via PayNow.
All you need to do is to ensure you have already signed up for the PayNow service with your bank using your NRIC or FIN. Instead of waiting for cheques to be mailed to you, PayNow lets you receive faster payouts direct to your account.
Receive payments via PayNow
✓ Check that you’ve registered for PayNow using your NRIC or FIN with your bank.
✓ Please note that this service:
- Is only applicable to customers whose Singapore NRIC/FIN is in our policy records
- Is only available for payouts in SGD
- Is not applicable for PayNow Mobile or PayNow UEN
- Will apply for policies where you do not already have an existing direct credit arrangement
Terms and conditions for the receipt of funds via PayNow apply.
For which transactions can I receive payouts via PayNow?
Payouts via PayNow are available for all the following transactions:
PRUShield Claims Payouts
- PRUShield Foreigner Hospitalisation (FH)
- PRUShield Inpatient (PI)
- PRUShield Outpatient (PO)
- PRUShield Overseas Hospitalisation (OH)
- PRUShield Pre & Post hospitalisation (PP)
Life Insurance Claims Payouts (Non-PRUShield)
- Accident & Hospitalisation (A&H)
- Critical Illness (CI)
- Death (DH)
- Female Benefit (FB)
- Male Benefit (MB)
- Terminal Illness (TI)
- Total Permanent Disability (TPD)
- Unemployment (UC)
- Amend From Inception (AFI) refund
- Cancel From Inception (CFI) refund
- Other New Applications related refund
- Not Taken Up (NTU) refund
Servicing Your Policies
- (Withdrawals) Advance Premium Deposit Withdrawal
- (Withdrawals) Cash Benefit withdrawal
- (Withdrawals) Cash Bonus withdrawal
- (Withdrawals) Partial withdrawal Investment Linked Plan
- Policy Loan
- Surrender of policy
- Termination of policy
- Excess Premium Refund
- Annuity payment
- (Regular Policy Payout) Dividend Option Payout
- (Regular Policy Payout) Fund distribution payment
- (Regular Policy Payout) Lifestyle Benefit
How do I sign up for PayNow NRIC/FIN?
To register for PayNow using your NRIC/FIN, please log in to your bank’s internet or mobile banking account to sign up for this service.
For more information and steps to sign up, please contact your bank or check out the FAQs provided by the various participating banks below:
You can choose to receive payments directly to your bank account, in Singapore or overseas. Please complete the Payment Instruction form and submit it to us with a copy of your bank book or bank account statement, stating the account holder name and account number. For overseas remittance or bank drafts, the exchange rate differences and any administrative charges will be borne by the Policyholder(s), Trustee(s) or Assignee.
If you do not specify a payment method, we will mail a cheque to your registered mailing address with us. Be sure to keep us updated of your latest address. To check your latest records with us, you can login to PRUaccess to view your personal details.