Mortgage Term

Mortgage Term is a non-participating reducing term plan that provides protection on mortgage loan in the event of death, terminal illness (TI) and total and permanent disability (TPD) (before the age of age 70) during the policy term.

Upon death of the insured during the term of the policy, the policy will pay the sum assured. The sum assured we will pay depends on the policy year in which the insured dies. The sum assured that we will pay in each policy year is shown in the ‘Table of Sum Assured’ in the policy schedule.

We will not pay the death benefit if the insured commits suicide within the first year of the cover start date. The policy will cease with immediate effect and we will refund the total premiums received without interest.

If the insured is under 65 years old, TPD, and totally and permanently disabled mean total physical loss, or the inability to take part in any paid work for the rest of a person’s life. We do not pay if the insured is merely unable to perform the same job as before, or is unable to perform a job to which his or her training, education or experience is suited for.

 If the insured is 65 years old and above but under 70 years old, TPD, and totally and permanently disabled mean total physical loss, or severe disability.

 Total physical loss means:

• the total and permanent loss of sight in both eyes;
• the loss of, or total and permanent loss of use of, two limbs at or above the wrist or ankle; or
• the total and permanent loss of sight in one eye and the loss of, or total and permanent loss of use of, one limb at or above the wrist or ankle.

 Severe disability means the inability to perform at least three of the following activities of daily living, even with the aid of special equipment and always needing the help of another person throughout the entire activity.

• Washing - the ability to wash in the bath or shower (including getting into and out of the bath or shower) or wash satisfactorily by other means.
• Dressing - the ability to put on, take off, secure and unfasten all garments and, as appropriate, any braces, artificial limbs or other surgical appliances.
• Transferring - ability to move from a bed to an upright chair or wheelchair and vice versa;
• Mobility - the ability to move indoors from room to room on level surfaces.
• Toileting - the ability to use the lavatory or otherwise manage bowel and bladder functions so as to maintain a satisfactory level of personal hygiene.
• Feeding - the ability to feed oneself once food has been prepared and made available.

Upon diagnosis of TPD (before the age of 70) of the insured during the term of the policy, the policy will pay the sum assured. The sum assured we will pay depends on the policy year in which the insured becomes totally and permanently disabled (before the age of 70). The sum assured that we will pay in each policy year is shown in the ‘Table of Sum Assured’ in the policy schedule.


The aggregate TPD benefit payable on a single life, inclusive of all policies issued by Income and by any other insurer cannot be more than S$6.5 million (not including bonuses).

We will not pay this benefit if your claim arises from:

1. deliberate acts such as self-inflicted injuries, illnesses or attempted suicide;
2. unlawful acts, provoked assault, or deliberate exposure to danger; or
3. the effects of alcohol, drugs or any dependence.

We will also not pay this benefit unless the insured is certified by a registered medical practitioner to have been totally and permanently disabled for at least six months in a row.

Terminal illness, and terminally ill, means “any condition caused by illness or injury, where at the time of claim, despite all reasonable medical treatment, the insured is expected to live for no more than 12 months.”

The specialist medical practitioner treating the condition must provide supporting evidence of the condition, possible medical treatment, the prognosis after undergoing the possible medical treatment, and certify that the insured is expected to live for no more than 12 months despite all possible medical intervention. We reserve the right to appoint an independent medical specialist who is an expert in the condition to confirm the diagnosis and prognosis.

Terminal Illness in the presence of HIV infection is excluded.

Upon diagnosis of a TI of the insured during the term of the policy, the policy will pay the sum assured. The sum assured we will pay depends on the policy year in which the insured dies. The sum assured that we will pay in each policy year is shown in the ‘Table of Sum Assured’ in the policy schedule.

We will not pay this benefit if your claim arises from:

1. deliberate acts such as self-inflicted injuries, illnesses or attempted suicide;
2. unlawful acts, provoked assault, or deliberate exposure to danger; or
3. the effects of alcohol, drugs or any dependence.

We will also not pay this benefit if the insured has a material pre-existing condition which was not disclosed upon application of this policy.

No, there is no cash value for this policy as this is a non-participating policy.

No, this policy is not eligible for any bonus as this is a non-participating policy.

Riders, also known as supplementary benefits, can be attached to a basic insurance policy to provide additional protection at lower cost.

Yes, riders can be added or removed any time after the policy is in force. However, adding riders after the policy is in force will be subjected to a reassessment of your health and financial situation.

^{^}Subject to the maximum coverage age of 84 (age last birthday)

The policy term is 5 to 35 years, subject to a maximum coverage age of 84 (age last birthday).

The policyholder is required to pay premiums until 2 years before the end of the selected policy term. 

The minimum sum assured is $50,000, subjected to a minimum premium of $5 per month. The maximum sum assured is subject to financial underwriting.

The premiums can be paid monthly, quarterly, half-yearly or yearly.

The available range of interest rates is from 1% - 7%.

Yes, the policy can be back dated subject to terms and conditions.