About Prudential Mortgage Insurance
The famous American author of children’s novels, Laura Ingalls Wilder, once said “Home is the nicest word there is”. We love our home as it provides us with a shelter and a place where we can live with our loved ones. Hence, we need to love, nurture and safeguard our home against unavoidable circumstances. Prudential Mortgage Insurance is the ideal tool for those who want to safeguard their home and make sure that their loved ones always have a roof over their head. It comes with low premiums and a variety of other features that make it very attractive to homeowners.
Prudential Singapore is a subsidiary of Prudential plc, one of the oldest and largest insurance companies in the world. Prudential plc has a worldwide presence and is one of the top 3 insurance providers in many Asian countries. In Singapore, the company has been operational for the last 84 years. For 11 years in a row, Prudential Singapore has won the Gold Award in the category of trusted brands, awarded by Reader's Digest. It is a customer-centric organization that caters to the needs of Singaporean from all walks of life.
No matter what your needs are, you will find an insurance policy from Prudential Singapore that will be suited to your needs. You can protect yourself and your family through the Prudential insurance products like Critical Illness Insurance, Personal Accident Insurance, Medical Insurance, Health Insurance, Term Insurance, Mortgage Insurance etc. Prudential Mortgage Insurance can help you to protect your home against the uncertainties of life.
Prudential Mortgage Insurance Policies
Prudential offers the following mortgage insurance plans to Singaporeans:
- PRUmortgage –
If you want to ensure that your mortgage payments are taken care of in case something happens to you or your spouse, you should opt for this mortgage insurance policy. You can either apply for this policy alone or jointly with your spouse.
Features and Benefits of PRUmortgage Policy
- You and your spouse can opt for two individual policies and get the advantage of maximum coverage, even if the property is owned jointly by both of you.
- The policy offers adequate coverage for outstanding mortgage loan amount in case you or your spouse faces uncertain situations like Death, Terminal Illness or Disability till age of 65.
- The terms of the policy are very flexible and range between 10 – 35 years.
- You can ensure that the policy offers adequate coverage for your home by choosing from flexible interest rates of 3 – 7%.
This plan is available to people in the age group of 20 – 60 years.
It is a decreasing term mortgage insurance policy that has been designed to protect your house against the uncertainties of life. The policy can safeguard your house and make sure that mortgage payments are made on time in case something happens to you or your spouse.
Features and Benefits of PRUmortgage Refund Premier Policy
- You will only need to make a one-time premium payment for this policy and will not have to worry about monthly premium payments.
- The policy offers coverage against Terminal Illness, Permanent and Total Disability and Death and your family members will be offered with a lump sum payment when a claim is made to make pending mortgage payments.
- The policy comes with flexible terms of 10 – 35 years and also offers you with choice of interest rates to ensure maximum coverage.
- You will get 100% of the premium amount as No Claim Bonus when the policy ends, if no claims are made during its tenure.
- You get the option of applying for the policy jointly with your spouse.
Compare Prudential Mortgage Insurance With Other Insurance Companies Offering Mortgage Insurance in Singapore
- AIA Mortgage Insurance
- NTUC Mortgage Insurance
- Great Eastern Mortgage Insurance
- Tokio Marine Mortgage Protection
- HSBC Mortgage Repayment Protection
FAQs - Prudential Mortgage Insurance
- I am 18 years old, can I apply for the PRUmortgage policy?
- Why are insurance premiums different for smokers and nonsmokers?
- What is a decreasing term policy? Does Prudential Singapore offer any decreasing term mortgage insurance policy?
- My wife and I have opted for a joint PRUmortgage policy. Can you please tell me how the benefits are paid in case of a joint policy?
- How can I apply for a mortgage insurance policy with Prudential Singapore?
No, you should be minimum 20 years of age to apply for this policy.
Smokers are more likely to suffer from life-threatening health conditions, in comparison to nonsmokers and so they are considered a risk when it comes to offering insurance policies. Hence, smokers need to pay higher premiums for insurance policies than non-smokers.
It is a term policy in which the assured amount decreases annually, depending on factors such as interest rate and the term of the policy.
The PRUmortgage Refund Premier Policy is a decreasing term mortgage insurance policy from Prudential Singapore.
In case of a joint policy, the benefits are paid when either of the two policyholders is terminally ill, permanently and completely disabled, or upon death. However, if both the policyholders are faced with any of these uncertain scenarios, the benefits are only paid for the first name policyholder.
You can apply for the policy online on the website of Prudential Singapore.