PRUmortgage refund premier
We understand you want to safeguard your home and family
At Prudential, we understand that you want to safeguard your home and family. And whether it’s one person or two people financing the loans, you can now attain your goal with a plan that also helps you stay covered against the unforeseen.
PRUmortgage refund premier is a decreasing term plan1 designed to help safeguard your family’s future. It protects you against mortgage liability in the event the unforeseen happens. Now, you can be assured that your family receives the protection that they need even as your dream is being fulfilled.
At the end of policy term if no claim is made
Available as joint life or individual policy
Upon death, Terminal Illness or disability4
10 to 352 years or up to 80 Age Next Birthday , whichever is lower
Total & Permanent Disability:
Death & Terminal Illness:
Total & Permanent Disability4.
Minimum Sum Assured:
Maximum Sum Assured:
The higher of,
|Total & Permanent Disability Benefit||
Before 65 Age Next Birthday, the higher of,
as at the date of Disability, less any outstanding amounts owing to us.
|Critical Illness Benefit||
|Accidental Death Benefit||
|Enhance Your Coverage||
How PRUmortgage refund premier works:
Mr. Lim (age 35, non-smoker) bought a house with his wife. They took a loan of S$500,000 for 20 years at an interest rate of 2% per annum. They also purchased PRUmortgage refund premier to cover their mortgage liability. However, on the 10th year, Mr. Lim passed away due to an unfortunate event.
Here is how PRUmortgage refund premier can help his wife cope with the mortgage liability.
|Life Assured||Single Premium|
|Husband, 35 age next birthday, non-smoker||S$29,703.75|
|Wife, 30 age next birthday, non-smoker|
|Policy Year||Guaranteed Death Benefit|
Upon Mr. Lim’s passing, PRUmortgage refund premier will pay out a lump sum of S$299,500 to cover for the remaining mortgage loan, and the policy will terminate after the claim.
If Mr. and Mrs. Lim did not make any claim during the policy term, PRUmortgage refund premier will refund 100% of the total premium paid (S$29,703.75) at the end of year 20.
- Decreasing term plan means the sum assured of the plan will reduce annually according to the interest rate and the policy term selected at the start of the policy. PRUmortgage refund premier is a non-participating decreasing term plan.
- Terms available from 10 to 35 years or up to age 80 next birthday, whichever is earlier.
- For joint-life PRUmortgage refund premier policy, the benefits will be payable if either one of the two Life Assureds (first occurrence only) dies, becomes Totally and Permanently Disabled or suffers Terminal Illness during the coverage period. If both Life Assureds either die, become Totally and Permanently Disabled or suffer Terminal Illness at the same time, we pay only for the first Life Assured (not both) named on the Certificate of Life Assurance. Please refer to the policy document for specific details.
- The policy provides coverage against Total and Permanent Disability (“TPD”), provided the Disability occurs before the Cover Expiry Date of the policy, or before the policy anniversary prior to the life assured attaining age 65 next birthday, whichever is earlier.
You are recommended to read the product summary and seek advice from a qualified Prudential Financial Consultant for a financial analysis before purchasing a policy suitable to meet your needs.
Buying a life insurance policy is a long-term commitment. An early termination of the policy usually involves high costs and the surrender value payable (if any) may be less than the total premiums paid.
The information on this website is for reference only and is not a contract of insurance. Please refer to the exact terms and conditions, specific details and exclusions applicable to this insurance product in the policy documents that can be obtained from your Prudential Financial Consultant.
The information contained on this website is intended to be valid in Singapore only and shall not be construed as an offer to sell or solicitation to buy or provision of any insurance product outside Singapore.
In case of discrepancy between the English and Mandarin versions of the e-Brochures, the English version shall prevail.
Information is correct as at 22 March 2017.