Enjoy peace of mind with MyProtector Mortgage today.
Buying a house is the biggest investment you're ever likely to make. Have you ever considered what would happen to your family if you are unable to continue with your mortgage payment?
MyProtector Mortgage is a non-participating mortgage reducing term life insurance plan designed to suit the needs of customers with a home loan. Simply align the coverage to your home loan and MyProtector Mortgage will take care of your outstanding mortgage in the event of Death1 and Terminal Illness1 during the policy term. You can also add on protection against Total and Permanent Disability1 as well as 30 Critical Illnesses1 as supplementary benefits.
| Benefits at a glance for MyProtector Mortgage |
| Financial Protection |
Repaying your outstanding mortgage commitment in the event of Death1 and Terminal Illness1 |
| Option of additional coverage |
Enhance your coverage with protection against Total & Permanent Disability1 and 30 Critical Illness. |
| 90 Days Interim Cover |
Up to 90 days' Interim Accidental Death Cover2 from the date of Application signed |
| 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 823 years to cover your loan tenure |
| Shorter Premium Payment Period |
No premiums required for the last 2 years of your policy term |
| Guaranteed Premiums |
Your premiums4 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 |
| Convenient Payment Options |
Depending on your cash flow needs, you can choose your most preferred payment frequency: monthly, quarterly, semi-annually or annually. Payment can also be made by GIRO or credit card. |
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. HIV infection is excluded for Terminal Illness.
2 Refer to the Interim Cover Terms and Conditions as attached to the MyProtector Mortgage Application Form.
3 The maximum age of entry is seventy (70) Age Next Birthday ("ANB") for Death & Terminal Illness. The maximum age of entry is sixty-five (65) ANB for Total & Permanent Disability and Critical Illness Accelerated benefits. Maximum expiry age is seventy (70) ANB for Total & Permanent Disability and ninety-nine (99) ANB for Death & Terminal Illness and Critical Illness Accelerated benefits. The maximum policy term of eighty-two (82) 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.
4 Only for Death / Terminal illness and Total permanent disability Benefits. Rates for Critical illness coverage are not guaranteed.
Other terms and conditions apply.
POSB iBANKING
