Compare Mortgage Insurance Singapore

Moneyline Singapore compares over eight life insurance companies to get you the best and cheapest mortgage insurance plan in Singapore.

Learn about different plans available for mortgage insurance in Singapore from a variety of insurance providers in order to find the plan that best suits your needs.

Why Get Mortgage Insurance Plan?

Compare Mortgage Insurance Providers

Why Get Mortgage Insurance in Singapore?

Limited Payment

Choose the number of years of coverage and pay for a few years less than your mortgage term.

No Cancellation Fee

There’s nothing stopping you from terminating your insurance plan at any point in time, with or without the mortgage liability.

Low Cost

Mortgage-reducing insurance can be less expensive than a typical level-term insurance plan.especially when it comes to providing you with adequate protection for your home loan liability.

Interest Rate

Choose the interest rate that will be added to the reduced sum assured each year for your mortgage insurance in Singapore to ensure that your coverage is higher than the amount you still owe on your loan.

Compare and Get Quotes from Different Mortgage Insurance Providers

These are the companies we can help you get quotes from. If you are looking for a more cost effective premium we can get you the cheapest mortgage insurance in Singapore.

Other Features of a Mortgage Insurance Plan

Add Riders

Here are some riders you could add to your mortgage-reducing insurance protection to provide comprehensive coverage:

Total and Permanent Disability
Advanced Stage Critical Illness
Premium Waiver
Spouse Premium Waiver

Joint Application

You can apply for joint mortgage insurance in Singapore with your spouse. This may potentially be the cheapest mortgage insurance option for you, than getting two separate policies. . Take note that the payout will not be paid twice even if both of you meet the claimable event of death or disability.

Sample Premiums

Mortgage Insurance Premium 30 Years Old Non-Smoker

Permutation: 1,000,000 Death & Disability Coverage 30 Years Term

Insurer	Male Annual Premium	Female Annual Premium
NTUC Income	$865	$657
Manulife	$636	$490
Etiqa	$720	$540

What Should You Look Out For When Buying Mortgage Insurance in Singapore?

Suppose you are buying a private mortgage insurance plan in hopes of replacing your Home Protection Scheme (HPS). In that case, you need to make sure that the interest rate is at least 3.5% of the sum assured, and the policy term should be similar to or higher than your HPS coverage at the very least.
While the sum assured by the plan will reduce every year, the premium will remain the same throughout.
Although your endowment plan in Singapore might agree on an amount you’ll be paid, poor investment performance could mean the lump sum payout isn’t the generous amount you had in mind.
Be sure to get a quote for level-term insurance; sometimes a level-term insurance plan with a promotion may be cheaper than purchasing mortgage insurance in Singapore.

The Biggest Advantage of Getting a Mortgage Insurance Plan is Helping You Save a Great Deal of Money For Your Protection Needs.

Get Mortgage Insurance Quotes

Our MAS-licensed partner will provide you with objective advice and help you compare insurance quotes from different providers. It is 100% free and requires no commitment. Retrieving your information is as easy as using your SINGPASS app or manually filling out the form below.

Frequently Asked Questions

If I Already Have a Home Protection Scheme (HPS) From CPF, Do I Still Get Mortgage Insurance?

Your HPS is already a mortgage-reducing insurance policy. If you were to buy another mortgage insurance policy to protect the same property covered by HPS, then you are essentially covering the same mortgage liability twice.

You can also seek exemption from HPS if you are already covered by private mortgage-reducing term insurance and the coverage provided by the private insurance is adequate for exemption.

Latest Articles Related to Mortgage Insurance

Disclaimer

Moneyline.sg is an independent information provider. It is not a bank or financial services provider and cannot give direct financial advice.
All Sample Premium results if shown are based on the criteria indicated and MoneyLine.sg does not warrant or guarantee that anything written here is accurate, timely, or relevant to the solution of any problem you may have.
Contents are intended as general information only and do not consider financial situation or need of any user or reader, any specific person or group of persons. It does not constitute advice nor does any part of the content constitute an open offer capable of forming the basis of a contract.
Moneyline.sg works with Synergy Financial Advisers to present these contents. Synergy Financial Advisers makes no representation or warranty as to its adequacy, completeness, accuracy or timeliness for any particular purpose. All information provided is not intended to be and does not constitute financial advice, insurance advice or any other advice or recommendation of any sort offered or endorsed by Synergy Financial Advisers.
Promotions indicated on this page may not be accurate and may be subjected to changes by providers without warning. Moneyline.SG does not take responsibility for the accuracy of the information shown in this content.
You are recommended to seek financial advice from a qualified financial advisor for product suitability and its latest premium rates quotation before deciding to purchase the product. In the event you choose not to seek advice, you should consider if the product is suitable for you.
Without prejudice to the generality of this, MoneyLine.sg Pte Ltd specifically excludes liability for any loss or damage no matter how arising from the use of this Web Portal or of any information or services provided through this web portal.
Please read our full Disclaimer on the use of our website.

Compare Mortgage Insurance Singapore

Moneyline Singapore compares over eight life insurance companies to get you the best and cheapest mortgage insurance plan in Singapore.

Why Get Mortgage Insurance in Singapore?

Limited Payment

No Cancellation Fee

Low Cost

Interest Rate

Compare and Get Quotes from Different Mortgage Insurance Providers

These are the companies we can help you get quotes from. If you are looking for a more cost effective premium we can get you the cheapest mortgage insurance in Singapore.

Mortgage Insurance

Other Features of a Mortgage Insurance Plan

Sample Premiums

Mortgage Insurance Premium 30 Years Old Non-Smoker

What Should You Look Out For When Buying Mortgage Insurance in Singapore?

The Biggest Advantage of Getting a Mortgage Insurance Plan is Helping You Save a Great Deal of Money For Your Protection Needs.

Get Mortgage Insurance Quotes

Frequently Asked Questions

What is a Mortgage Insurance?

Will The Premium Reduce Together With The Coverage?

Can I Get a Mortgage Reducing Insurance Without Any Home Loan Liability?

If I Already Have a Home Protection Scheme (HPS) From CPF, Do I Still Get Mortgage Insurance?

Can I Pay For Private Mortgage Insurance Through My CPF OA?

Why Should I Get Mortgage Insurance?

Must The Sum Assured Be The Same As My Loan Amount?

Is Mortgage Insurance Mandatory For All Home Owners With Home Loans?

If I Sell My Property Will My Mortgage Insurance Be Terminated Automatically?

Latest Articles Related to Mortgage Insurance

Related Posts