Can I continue to use my Ordinary Account savings to service my regular premium insurance bought before 1 January 2001, even if my balance falls below $20,000?
You can continue to service the future premiums using your Ordinary Account savings, even if your balance falls below $20,000. This applies to you even after age 55 as long as you have set aside the Full Retirement Sum or the Basic Retirement Sum with sufficient property charge/pledge in the Retirement Account.
This information is sourced from CPF
Related questions
Can I continue to use my CPF monies to pay for the quarterly bank charges even if I do not have $20,000 in my Ordinary Account?
If I have an existing regular premium insurance policy bought using cash, can I continue to service the future premiums using CPF under the CPF Investment Scheme-Ordinary Account (CPFIS-OA)?
If I have withdrawn under the Reduced Life Expectancy scheme, can I continue to use my Ordinary Account savings to service my housing loan?
I have substantial balances in my Ordinary and Special or Retirement Accounts. Can I use the available funds to offset my MediSave payable?
Need more help?
Get in touch