Summary of NTUC Income Mortgage Insurance Plans

NTUC Income is an insurance co-operative in Singapore. They were first established in 1970 to provide affordable and accessible insurance to all Singaporeans. NTUC Income aims to provide value-added financial services that will be a complement to the current digital age. Their wide range of insurance products is catered to the savings and protection needs of all clients at any life stage. 

What is Mortgage Insurance?

Mortgage Insurance is a type of insurance policy that will payout to property owners in the event of a default on the mortgage loan. The default of the policyholder’s mortgage loan may be the result of the policyholder’s death, terminal illness or total and permanent disability. The mortgage insurance plan is also known as reducing term insurance, this is because the coverage should decrease as the policyholder pays off more of the loan. 

We have done extensive research on the best mortgage insurance plans. Here is the full comparison of the Best Mortgage Insurance Plans.

NTUC Income Mortgage Insurance Summary:

Here is the NTUC Income Mortgage Insurance available:

PolicyPal’s Review of NTUC Income Mortgage Insurance

The NTUC Income Mortgage Term has moderate flexibility with regards to the options available for policyholders.

NTUC Income Mortgage Insurance has a wide range of affordable riders that you can add to your base plan. They offer a total of 5 riders, which is the highest number of riders available in comparison to Etiqa Mortgage Insurance and AXA Mortgage Insurance. This plan is most suited for homeowners that have single applicants or one main applicant, as there is no joint application available.

The interest rate range sits between 1 to 7% which makes it a wider range than Etiqa Mortgage Insurance. However, the range is beaten by AXA Mortgage Insurance which offers 0 – 15%. If the interest rate range that you seek for your mortgage insurance sits within the range of 1 to 7% then it would not be an issue for you. Furthermore, there is an age limit for this plan as people over the age of 70 would not be eligible to purchase this plan. If you are under the age of 70 this may also not be an issue for you. 

Good for: Homeowners that would like added rider coverage.

Claims & Contact Information
 Contact Information
PolicyPal Customer Service+65 3163 9184
PolicyPal Claims[email protected]

Schedule a Free Teleconsulting service with us today

You will be able to enjoy a free financial portfolio review which will help you better understand how to create a suitable financial plan for you and your family. We will analyse life insurance products from over 20 insurers and present you solutions that are tailor-made to address your concerns. 

Our advisor will be more than happy to help you understand any of these insurance policies: 

  • Health Insurance
  • Critical Illness Insurance
  • Endowment/Savings Insurance
  • Personal Accident Insurance
  • Term/Whole Life Insurance

If you would like to know more about a specific life insurance product you can let us know your preference. This is so that we can be better prepared during the appointment to present you with a comparison table if needed.

How will I be able to schedule an appointment?

You can WhatsApp us at 8750 0688 and let us know your preferred date and time for the appointment. The appointment will be conducted using Zoom a free video-conferencing app for video consultation on your computer or your phone. 

Alternatively, you can include your details here and we will contact you to help you set up an appointment. 

Submit your interest now and get protected!

PolicyPal

PolicyPal

PolicyPal is here to help you make informed and savvy financial decisions through the good times and the bad.

Recommended Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Show Buttons
Hide Buttons