Summary
- Introduction
- Step 1: Sign Up or Log In to CardUp
- Step 2: Select Payment Type
- Step 3: Enter Payment Details
- Step 4: Review and Confirm
- Step 5: Track Payment Status
- Conclusion
- Related article(s)
Introduction
Managing insurance payments can sometimes be a hassle, especially when dealing with different payment methods and schedules. However, with CardUp, paying your Manulife insurance premiums becomes seamless and convenient. In this article, we'll guide you through the process of making your Manulife insurance payments using CardUp, ensuring a hassle-free experience every time.
For the video tutorial, please click on the following link: Paying Manulife: A Guide to Using Your Credit Card via CardUp
Step 1: Sign Up or Log In to CardUp
If you haven't already, sign up for a CardUp personal account on our website or log in if you're an existing user. CardUp offers a user-friendly platform that allows you to schedule and manage your payments effortlessly.
Link to sign up/log in: https://app.cardup.co/users/sign_in
Step 2: Select Payment Type
Navigate to the homepage and select the "+Create Payment" option to proceed to our payment type page.
Continue by choosing "Domestic payments" and selecting "Insurance" as the payment category.
We've pre-populated the recipient details for the Manulife bank account on the recipient page for your convenience. Simply search for "Manulife Singapore Pte Ltd (paying for SGD policies)" and select them as your recipient.
If your policy document specifies a different recipient bank account, you can proceed to fill in the details using the "Add New Recipient" option.
Note: **Manulife has confirmed that the preloaded DBS USD account is accurate
Step 3: Enter Payment Details
After selecting Manulife Insurance as the recipient, you'll need to enter your payment details. This includes the payment amount, policy number, and any other required information. Double-check the details to ensure accuracy.
Note:
The maximum payment amount allowed to Manulife is SGD $65,000 per policy per year. This limit is applicable whether the payment is made as a single transaction or via multiple transactions/recurring installments.
Example:
If you make a payment of SGD $65,000 towards Policy A in 2024, you are still permitted to pay up to
SGD $65,000 for Policy B within the same year. This limit resets the next year; for instance, if you pay SGD $65,000 on 31/08/2024, the next eligible payment can only be made from 1/09/2025 onwards.
Payment Amount: Enter the SGD amount owed to Manulife, ensuring it does not exceed the threshold specified on your document.
Payment Method: For credit card payments, both Singapore-issued credit cards (Visa/Mastercard /American Express/Unionpay) and internationally issued credit cards are accepted.
Payment Plan:
- Standard Payment: It takes 3 business days for the funds to be credited.
- Next Day Payment: Funds will be delivered within 1 business day, with an additional charge of 0.3%.
Frequency of Payment: You have the option to choose monthly, quarterly, semi-annually, or annually payments.
Description: To reflect on your card statement, you may choose up to 15 characters.
Payment Reference: Please provide your policy number and full name (should not exceed 35 characters and should not contain any special characters.
Promo or Referral: You can utilize any available promotions to enjoy a discounted fee rate. However, please note that only one promotion can be applied per payment setup. You may find the promo link here: https://www.cardup.co/personal/pricing
Fee Summary (refer here):
- For credit card payments, a fee will be applied.
- For bank transfers, no fee will be imposed.
Step 4: Review and Confirm
Before proceeding with the payment checkout, you'll have the opportunity to review the entire payment request. Please note that there will be a pre-authorization charge of SGD0.50, which will be refunded to your credit card within a few days.
Step 5: Track Payment Status
Once the payment is initiated, you can track its status on the payment dashboard. CardUp provides real-time updates on the progress of your payment, giving you peace of mind throughout the process.
Conclusion
Paying your Manulife insurance premiums is now much easier. By following these simple steps, you can streamline your payment process and enjoy the convenience of managing your insurance payments online. Say goodbye to manual transfers and late payments – with CardUp, you can ensure your insurance premiums are paid on time, every time.
Related article(s):