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PRUMortgage Refund

Your home is more than just a shelter. It is a place of comfort and security for you and your family. Protecting against mortgage liability ensures that your family is well taken care of and that they continue to have a safe place. PRUMortgage Refund is a reducing term insurance plan that has a unique return-of-premium feature. It takes care of your outstanding mortgage loans should the unforeseen happen, ensuring that your family receives the protection they need.


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English Brochure

Chinese Brochure


prumortgage refund refund of premiums en 

At the end of policy term if no claim is made

prumortage refund 10 to 35 years en 

Policy Term

prumortage refund joint life or individual en 

Available as joint life or individual policy

prumortgage refund lump sum payout en 

Upon death, Terminal Illness or Disability3

Product Details

Product Type


Payment Term

Regular Premium

Premium Term is 3 years less than the Policy Term

Policy Term

10 to 351 years or up to 75 Age Next Birthday, whichever is lower

Issuance Age

20 to 60 Age Next Birthday


Minimum Sum Assured:

  • $10,000

Maximum Sum Assured:

  • Amount of Housing Loan
Maturity Benefit

Not Applicable

Death Benefit

The higher of,

  1. The scheduled sum assured; or
  2. The total premium paid; as at the date of death.
    whichever is higher, less any amounts owing to us in connection with the policy.
Total & Permanent Disability Benefit

Rider Available

Cash Benefit

Not Applicable

Critical Illness Benefit

Not Applicable

Enhance Your Coverage

Disability3, Crisis Waiver III, Early Stage Crisis Waiver

How PRUMortgage Refund works:

Mr. Lim (age 35, non-smoker) bought a house with his wife. They took a loan of S$500,000 for 25 years at an interest rate of 3% per annum. They also purchased PRUMortgage Refund to cover their mortgage liability. However, on the 10th year, Mr. Lim passed away due to an unfortunate event.

Here is how PRUMortgage Refund can help his wife cope with the mortgage liability.

Life Assured Single Premium
Husband, 35 age next birthday, non-smoker S$2,623.254
Wife, 30 age next birthday, non-smoker


Policy Year Guaranteed Death Benefit
Year 1 S$500,000
Year 5 S$443,000
Year 10 S$361,000

Upon Mr. Lim’s passing, PRUMortgage Refund will pay out a lump sum of S$361,000 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 will refund 100% of the total premium paid (S$2,623.25 x 22 = S$57,711.50) at the end of year 25.

  1. Terms available from 10 to 35 years or up to age 75 next birthday, whichever is earlier.
  2. For joint life PRUMortgage Refund 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 term of the policy. 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 for specific details.
  3. Optional Disability Benefit provides coverage against Total & Permanent Disability during the term of the policy and can only be added at the start of the policy.
  4. Guaranteed premium quoted is on an annual basis for a non-smoking male, age 40 next birthday, and a non-smoking female, age 35 next birthday, for a PRUMortgage Refund policy and Disability supplementary benefit
  5. We will refund the total premiums paid (without interest) of the basic plan and inclusive of the Optional Disability Benefit, without interest, on the Cover Expiry Date of the policy provided no claim is made at the end of policy term.



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.

As buying a life insurance policy is a long-term commitment, an early termination of the policy usually involves high costs and the surrender value, if any, that is payable to you may be zero or less than the total premiums paid.

Buying health insurance products that are not suitable for you may impact your ability to finance your future healthcare needs. Premiums for some of the supplementary benefits are not guaranteed and may be adjusted based on future claims experience.

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.

These policies are protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policies is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact your insurer or visit the GIA/LIA or SDIC web-sites ( or or

Information is correct as at 22 Aug 2019.

This advertisement has not been reviewed by the Monetary Authority of Singapore.


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