Mortgage Assurance Benefits

Overview | Benefits
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Benefits at a glance for Mortgage Assurance
Financial Protection Repaying your outstanding mortgage commitment in the event of Death1, Total & Permanent Disability1 or Terminal Illness1, 2
90 Days Interim Cover Up to 90 days' Accidental Death Cover3, during the period in which your application is being processed
Flexible Interest Rates Choose from a range of interest rates closest to your mortgage interest rates ensuring adequate coverage for your home
Choice of Policy Term Available from 5 to 404 years to cover your loan tenure
Shorter Premium Payment Period No premiums payable for the last 2 years of your policy term5
Guaranteed Premiums Your premiums will remain unchanged throughout your policy term
Joint-Life Option For joint homeowners, you can enjoy the coverage of 2 lives in 1 single policy on a joint-life basis
Choice of Premium Payment Mode Choose between a single or regular premium mode
Enhanced Waiver of Premium Rider An optional add-on6 to ensure future premiums are waived upon positive diagnosis of any of the 30 defined critical illnesses

Mortgage protection you shouldn't miss

  • Comprehensive Coverage
    Enjoy insurance coverage on death, total & permanent disability or terminal illness.
  • Affordable & Competitive
    Premiums are highly competitive for the level of protection offered.
  • Convenient Payment Options
    Depending on your cashflow needs, payment can be made monthly by Giro or annually by Giro or cheque.
  • Enhanced Waiver of Premium Rider
    You may opt for an add-on* to ensure future premiums^ are waived upon positive diagnosis of any of the 30 defined critical illnesses.

* Additional premiums are payable for adding on supplementary benefits.
^ Premium rates and charges for the rider are not guaranteed. The rates may be adjusted based on future experience. Other terms and conditions apply.

1 The sum assured according to your policy schedule may be higher or lower than the outstanding loan amount, depending on the policy interest rate assumptions.
2 HIV infection is excluded for Terminal Illness.
3 Refer to the Interim Cover Terms And Conditions as attached to the Mortgage Assurance Application Form.
4 The maximum age of entry is sixty-five (65) Age Next Birthday ("ANB"). Maximum expiry age is sixty-five (65) ANB for Total & Permanent Disability and seventy (70) ANB for Death and Terminal Illness benefits. The maximum policy term of forty (40) years is subject to the sum of the policy term and the age of the life assured being equal to or less than seventy (70) years.
5 Applicable for regular premium payment mode only.
6 Additional premiums are payable for adding on supplementary benefits. Premium rates and charges for the rider are not guaranteed. The rates may be adjusted based on future experience.

Other terms and conditions apply.