Tokio Marine Mortgage Insurance
Tokio Marine Mortgage Insurance is named TM Mortgage protection which protects your loved ones and ensures that your housing loan will be fully paid for in the event of unforeseen and unfortunate circumstances.
What is TM Mortgage Protection?
It is a regular premium, non-participating reducing term assurance plan, designed to provide:
- Protection against financial liability such as mortgage loans
- Coverage against
- Death
- Total and Permanent Disability1 (TPD)
- Critical Illness (CI)2 (optional)
- Flexible policy terms: 10-30 years
- Available interest: 0% – 9.75% (in steps of 0.25%).
- Joint Life option3
1 TPD Benefit is provided until the policy anniversary on which the life assured is age 65 next birthday.
2 Covers 36 CI and is available for single life applications only. Premium rates for CI are non-guaranteed. Tokio Marine Life Insurance Singapore Ltd. reserves the right to change the premium rate by giving 30 days’ written notice.
3 The joint life feature is available for basic plans covering Death and TPD benefits only. Insurable interest is required for joint life policies.
Why is this important to you?
It settles your outstanding mortgage loan in the event of unexpected death or Total and Permanent Disability (TPD)1.
For added peace of mind, it offers options for:
- Joint life cover2
- where the benefits will be payable on the first occurrence of the insured event(s) by any of the two lives assured
- CI cover3
1 TPD Benefit is provided until the policy anniversary on which the life assured is age 65 next birthday.
2 The joint life feature is available for basic plans covering Death and TPD benefits only. Insurable interest is required for joint life policies.
3 Covers 36 CI and is available for single life applications only. Premium rates for CI are non-guaranteed. Tokio Marine Life Insurance Singapore Ltd. reserves the right to change the premium rate by giving 30 days’ written notice.
This is suitable if you want
- A protection plan to take care of your mortgage loan
- Coverage against Death, TPD and/or CI
- Joint protection with your loved ones
This is not suitable if you want
- A savings plan
- A one-time premium commitment
- Regular pay-out during the policy term
Key coverage
Match your loan tenure and interest- Total and Permanent Disability (TPD)
- Joint Life Option
As Independent Financial Consultants, we provide insurance plans from most of insurance companies. We list several popular mortgage insurance plans from different insurance company for your comparison as below:
- AIA Mortgage Insurance
- NTUC Mortgage Insurance
- Great Eastern Mortgage Insurance
- Prudential Mortgage Insurance
- Tokio Marine Mortgage Insurance
- HSBC Mortgage Insurance
If you feel difficult to find a trusty and professional financial consultant, or if you need an independent financial consultant for unbiased advice. We can recommend a trusty financial consultant to discuss your insurance needs FREE of Charge, please fill below online form to Contact Us now. Our recommended financial consultant will contact you to make you understand how to choose suitable insurance to meet your needs.