NTUC Income - MORTGAGE PROTECTION PLAN

Overview

Mortgage Protection Plan provides good coverage at affordable rates. You can choose between 5 to 35 years depending on your remaining term of your mortgage. It is also known as a decreasing term insurance plan. You can also opt for a lump sum single premium payment or a regular premium payment over a specific number of years. There is also an option to include riders to waive off future premiums upon diagnosis of any one of the 30 dread diseases.


Key Benefits


Riders Available


1. Dread Disease Premium Waiver

This is a non-participating, regular premium rider that waives future premium payments on the policy for the remaining term of the rider upon diagnosis of the insured with a specified Dread Disease during the term of the rider. The rider terms available are from 2 years to 84 years. The maximum entry age is 74 last birthday and the rider should not cover beyond age 84 last birthday of the insured or the premium payment term of the policy, whichever is earlier.

2. Early Cancer Waiver

Early Cancer Waiver is a non-participating, regular premium rider that waives future premiums on the policy for the remaining term of the rider upon diagnosis of the insured with an early-stage cancer during the term of the rider. The rider terms available are from 2 years to 35 years, up to age 64 last birthday, or up to age 84 last birthday. The maximum entry age is 64 last birthday and the rider should not cover beyond age 84 last birthday of the insured or the premium payment term of the policy, whichever is earlier. It is advisable for the policyholder to choose a rider term that matches the premium payment term of the policy. Any extension or renewal on the rider term is subject to underwriting and maximum entry age set. Please note that the premium rates are not guaranteed. These rates may be adjusted based on future experience.

3. Enhanced Payor Premium Waiver

Enhanced Payor Premium Waiver is a non-participating, regular premium rider that waives future premium payments on the policy for the remaining term of the rider upon death, or diagnosis of the insured with total and permanent disability (TPD) or a specified dread disease (DD) during the term of the rider (if TPD occurs before the age of 70). The rider terms available are from 2 years to 84 years. The maximum entry age is 74 last birthday and the rider should not cover beyond age 84 last birthday of the insured or the premium payment term of the policy, whichever is earlier.

4. Payor Premium Waiver

Payor Premium Waiver is a non-participating, regular premium rider that waives future premium payments on the policy for the remaining term of the rider upon death or diagnosis of the insured with total and permanent disability (TPD) during the term of the rider (if TPD occurs before the age of 70). The rider terms available are from 2 years to 84 years. The maximum entry age is 74 last birthday and the rider should not cover beyond age 84 last birthday of the insured or the premium payment term of the policy, whichever is earlier.


Who is this suitable for?


Couple
Couple
Family Life
Family Life
New Home Owner
New Home Owner
Working Adult
Working Adult

Our team of Investment Advisers will contact and assist you. You may fill up the appointment form here and state your preferred timing or drop us an email and we will get back to you.

Make an appointment

Note: Buying a life insurance policy can be a long-term commitment. An early termination of the policy usually involves high costs, and the surrender value payable may be less than the total premiums paid. You may wish to seek advice from a financial adviser before making a commitment to purchase the product. In the event that you choose not to seek advice from a financial adviser, you should consider whether the product in question is suitable for you.