Mortgage Insurance

Summary of Prudential Mortgage Plans

Prudential was founded in 1848 in the United Kingdom. By 1914, one in three British households had an insurance policy with Prudential. Fast forward till today, Prudential has grown rapidly across the globe. Prudential has become a trusted name in the Singapore insurance industry.  Prudential Singapore is one of the market leaders in their savings and whole life plans with more than $30 billion in funds under management as of 2016. 

What is Mortgage Insurance?

Mortgage Insurance is a type of insurance policy that will payout to property owners in the event of a default on the mortgage loan. The default of the policyholder’s mortgage loan may be the result of the policyholder’s death, terminal illness or total and permanent disability. The mortgage insurance plan is also known as a reducing term insurance, this is because the coverage should decrease as the policyholder pays off more of the loan. 

Prudential Mortgage Insurance Summary:
Here is the Prudential Mortgage Insurance available:

PolicyPal’s Review of PRUMortgage and PRUMortgage Refund:

PRUMortgage

PRUMortgage ensures that you mortgage is covered even after an unforeseen incident such as death or diagnosis of terminal illness of the policholder. It provides you with flexible premium term (monthly, quarterly, half-yearly and yearly) to accommodate your financial needs. This policy also gives you an option to cover your partner with joint-life policy. 

PRUMortgage however, has its limitations. In order to be protected against TPD, you will have to add on a rider, which would increase your premiums. Cash value is also absent from PRUMortgage.

Good for: Couples looking for a joint-life mortgage policy.

PRUMortgage Refund

PRUMortgage Refund has very similar benefits as compared to PRUMortgage. As the name suggests, PRUMortgage Refund allows you to get a refund on your full premiums paid upon maturity if no claim is made. This policy also provides an option for a joint-life application.

The limitations for PRUMortgage Refund is that it does not come with any protection against TPD, which is sold as a separate rider. 

Good for: Couples looking for joint-life mortgage policy with cash value.

Claims & Contact Information
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Schedule a Free Teleconsulting service with us today

You will be able to enjoy a free financial portfolio review which will help you better understand how to create a suitable financial plan for you and your family. We will analyse life insurance products from over 20 insurers and present you solutions that are tailor-made to address your concerns. 

Our advisor will be more than happy to help you understand any of these insurance policies: 

  • Health Insurance
  • Critical Illness Insurance
  • Endowment/Savings Insurance
  • Personal Accident Insurance
  • Term/Whole Life Insurance

If you would like to know more about a specific life insurance product you can let us know your preference. This is so that we can be better prepared during the appointment to present you with a comparison table if needed.

How will I be able to schedule an appointment?

You can WhatsApp us at 8750 0688 and let us know your preferred date and time for the appointment. The appointment will be conducted using Zoom a free video-conferencing app for video consultation on your computer or your phone. 

Alternatively, you can include your details here and we will contact you to help you set up an appointment. 

Submit your interest now and get protected!

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