Mortgage Protection Plan

Mortgage Protection Plan

Ensure that your loved ones will always have a home in times of need.

What it covers

We pay off the outstanding balance of your housing loan in the event of death or total and permanent disability (TPD before the age of 65).

Features

Depending on the number of years remaining for your mortgage loan, you can choose to be covered on this plan from 5 to 35 years.

Enhance your coverage

Living Benefit
We pay the sum assured of this rider in the event of death, total and permanent disability (TPD before age 65), or diagnosis of dread disease [1].
Special Waiver of Premium
We waive future premium payments of the basic plan, if the policyholder is diagnosed with dread disease [2] (except for angioplasty and other invasive treatment for coronary artery) during the term of the rider.

Before you apply

You will need evidence of a housing loan to apply for this policy. The entry age is from 19 to 59 years old (last birthday) and the coverage period should not exceed age 84 (last birthday) of the insured.

You can choose to make a one-time premium payment, or regular payments over a specific number of years.

With regular premium payments, you only need to pay for 3/4 of your selected coverage period. You can make your payments monthly, quarterly, half-yearly or yearly.

Important Notes

Footnotes

 
  1. A waiting period of 90 days will apply from the date of rider issue, inclusion or increase of any benefit, or rider reinstatement (whichever is latest) for major cancers, heart attack, coronary artery by-pass surgery, or angioplasty and other invasive treatment for coronary artery. For angioplasty and other invasive treatment for coronary artery, we will pay 10% of what we would have paid for the other dread diseases, subject to a maximum amount of $25,000. The benefit for angioplasty and other invasive treatment for coronary artery will end once we make this payment. The rider will continue with a reduced sum assured.
  2. A waiting period of 90 days will apply from the date of rider issue, inclusion or increase of any benefit, or rider reinstatement (whichever is latest) for major cancers, heart attack and coronary artery by-pass surgery.

Exclusions

 

There are certain conditions whereby the benefits under this plan will not be payable. You can refer to your policy contract for the precise terms, conditions and exclusions of the plan. The policy contract will be issued when your application is accepted.

Important Notes

 

This page is for general information only. You can find the usual terms and conditions of this plan in the policy conditions. All our products are developed to benefit our customers but not all may be suitable for your specific needs. If you are unsure if this plan is suitable for you, we strongly encourage you to speak to a qualified insurance adviser. Otherwise, you may end up buying a plan that does not meet your expectations or needs. As a result, you may not be able to afford the premiums or get the insurance protection you want. This policy does not have any cash value.
This policy is protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact NTUC Income or visit the websites of the General Insurance Association of Singapore (www.gia.org.sg), the Life Insurance Association, Singapore (www.lia.org.sg) or Singapore Deposit Insurance Corporation (www.sdic.org.sg).
 

Information is correct as of 09 April 2015

Frequently asked questions

How to apply

For enquiries about life insurance, please call our hotline:
6788 5515

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