Unlocking  the value in your in-force insurance policy while enjoying the policy protection and other benefits stated in your insurance policy.

This financing service is only applicable to a fully paid insurance policy, with a surrender value and was issued by a reputable insurance company.

The insurance policyholder agrees to assign the policy to us as collateral in exchange for the financing services. In the event of death, surrender or maturity of the insurance policy, we will receive the payout from the insurance company. The payout will be used to settle the financed amount and the outstanding interest, if any, and return any remaining balance of the proceeds to the insurance policy owner or designated beneficiary

The financing amount will be determined based on the insurance policy’s’ latest guaranteed surrender value. The applicable loan to value (“LTV”) ratio will depend on the policy type, policy Issuer Company, etc. The LTV ratio we offer is up to 90% of the latest guaranteed surrender value.

Able to accept a policy that is owned by an individual or company insuring a third party as collateral. Policies must have Guaranteed Surrender value. Loans will be disbursed to the policy owner.

E.g. the latest guarantee surrender value of policy A, issued by a reputable insurance company, is SGD1,000. The maximum financing we can offer is capped at SGD900.

Benefits of insurance policy backed financing include:

  • Liquidity to pursue your cash needs
  • Continue enjoying the policy’s coverage without having to surrender your policy
  • No interruption to your wealth planning and long term financial goals
  • Enjoy the appreciation on your insurance policy value

  • Singapore Citizen, Permanent Resident and Foreigner with a valid pass
  • Be at least 21 years old
  • Be employed/self employed

We offer two types of loan structure, term loan and revolving loan.

Term Loan Revolving Loan
Monthly instalment of Principal + Interest [P+I] Monthly instalment of Interest only [I only]
Fixed monthly repayment commitment Flexible repayment on Principal. Repay Principal latest by loan due date
Lower interest charges as interest is charged on a reducing balance basis Do not allow to withdraw the Principal paid earlier
Structure similar to HDB loan, Motor loan Structure similar to overdraft facility, credit card loan
Suitable for people who prefer fixed commitment Suitable for people who need the financing amount throughout the loan period.



Submit your application online with Myinfo

Fill Up Online Form



Schedule an appointment with us

Set an Appointment



Get better understanding of the contract t&cs before signing off

Sign an Agreement



Get someone in charge of safekeeping your assets

Assign Collateral



Funds will be disbursed to you within 1 working day

Receive Funds

Monthly repayments for the loan are to be paid via GIRO. We will assist you in setting up the GIRO arrangement.
If the GIRO arrangement is not done before the due date, you can pay via paynow or bank transfer:
  • Pay Now

    Please select “UEN” in your paynow payment option, UEN number: 198305883C. The payee display name is PHILLIP CREDIT P L-L M

  • Bank transfer

    Please see the bank details as below,

    Bank Name : Standard Chartered Bank
    Branch Name : Standard Chartered Bank (Singapore) Limited
    Branch Code : 001
    Branch Address : 6 Battery Road
    Postcode : 049909
    Country : Singapore
    Account Name : Phillip Credit Pte Ltd
    Bank Account Type : Current
    Account Number : 0105068489
    Currency : Singapore Dollar

Able to accept fully paid insurance policy issued by reputable Singapore insurance company.

Our Valued Insurance Partners


Drop us a message and we will be in touch with you within one business day!