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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.

English Brochure

Chinese Brochure


Refund Premier Refund of Premiums 

At the end of policy term if no claim is made

10 to 35 years2 

Policy Term

Refund premier joint life3 or individual  

Available as joint life or individual policy

Refund premier lump sum payout 

Upon death, Terminal Illness or disability4

Product Details

Product Type


Payment Term

Single Premium

Policy Term

10 to 352 years or up to 80 Age Next Birthday , whichever is lower

Total & Permanent Disability:

  • Up to 65 Age Next Birthday
Issuance Age

Death & Terminal Illness:

  • 20 to 70 Age Next Birthday

Total & Permanent Disability4.

  • 20 to 64 Age Next Birthday

Minimum Sum Assured:

  • $100,000

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.
Total & Permanent Disability Benefit

Before 65 Age Next Birthday, the higher of,

  1. The scheduled sum assured of Disability Benefit; or
  2. The total premium paid (in proportion of Disability Benefit;

as at the date of Disability, less any outstanding amounts owing to us.

Cash Benefit

Not Applicable

Critical Illness Benefit

Not Applicable

Accidental Death Benefit

Not Applicable

Enhance Your Coverage

Not Applicable

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
Year 1 S$500,000
Year 5 S$415,500
Year 10 S$299,500

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.


  1. 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.
  2. Terms available from 10 to 35 years or up to age 80 next birthday, whichever is earlier.
  3. 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.
  4. 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.

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.

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.

This policy is protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy 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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