Here’s what you get with Mortgage Term.
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Cover the outstanding balance of your mortgage loan in the event of death, total and permanent disability (TPD before age 70), or terminal illness.
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Choose from a range of loan interest rates from 1% to 7% to ensure your mortgage loan is adequately covered.
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Choose to be covered on this plan from 5 to 35 years depending on the number of remaining years for your mortgage loan.
Let us walk you through Mortgage Term.
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How Mortgage Term protects you from the unexpected
40 years oldMr Lee is 40 years old with a mortgage loan of $500,000 on his condominium.
He buys a Mortgage Term policy with a sum assured of $500,000 to cover this loan, at a loan interest rate of 3%, for a policy term of 25 years.
He pays a monthly premium of $61 for 23 years only.
During the policy term
The amount of coverage decreases on a yearly basis, along with the mortgage loan amount (as more of the loan will be paid off with each passing year).
50 years oldMr Lee suffers from a stroke that causes him to be totally and permanently disabled.
- Payout amount: $360,679
End of policyMortgage Term policy ends with this claim.
The above figures are for illustrative purposes only and are rounded to the nearest dollar.
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Need more protection?
Enhance your coverage with riders.
Payor Premium Waiver
(Only applicable if the insured is not the policyholder)
You will not need to make future premium payments for the basic policy that you have bought for a loved one, if you pass away, or are totally and permanently disabled (TPD before age 70) during the term of the rider.
Enhanced Payor Premium Waiver
(Only applicable if the insured is not the policyholder)
You will not need to make future premium payments for the basic policy that you have bought for a loved one, if you pass away, are totally and permanently disabled (TPD before age 70), or are diagnosed with dread disease[1] (except for angioplasty and other invasive treatment for coronary artery) during the term of the rider.
Dread Disease Premium Waiver
You will not need to make future premium payments for your basic policy if you are diagnosed with dread disease[1] (except for angioplasty and other invasive treatment for coronary artery) during the term of the rider.
Early Cancer Waiver
You will not need to make future premium payments for the basic policy if you are diagnosed with early-stage cancer[2] during the term of the rider.
Essential Protect
You will receive the sum assured for this rider in the event of death, total and permanent disability (TPD before age 70), terminal illness or diagnosis of dread disease[1] (except for angioplasty and other invasive treatment for coronary artery) during the term of the rider.
Your policy toolkit. 18/5
Eligibility and payment frequency
Entry age | Minimum | Maximum |
Insured | 18 | 64 |
Policyholder | 18 | N.A. |
The coverage period should not exceed age 84 (last birthday) of the insured.
You only need to pay premiums until 2 years before the end of your selected policy term. You can make your payments monthly, quarterly, half-yearly or yearly.
Policy conditions
Application forms
Your queries answered.
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