What is the best mortgage insurance available currently?

There are different factors to consider when considering between different Mortgage Insurance Plan. These include premium price, mortgage size and interest rate of your loan. Most importantly, it is key to ensure the policy term is the same as your mortgage repayment duration. The mortgage insurance should also match the interest rate on your loan and the sum assured should be your full mortgage.

Below are some Mortgage Insurance Plans you can consider.

1)AXA Decreasing Term Assurance: Single to Regular premium, with interest rate from 0 up to 15%

2)Etiqa ePROTECT mortgage: Regular premium term, interest rate from 1- 4%

3)NTUC Income Mortgage Term: Regular premium term, interest rate from 1- 7%

You can see a detailed analysis of the Mortgage Insurance Plan here.

As the best policy may differ from individual to individual base on your preference, it is best to consult your financial advisor and request for a quotation table

Do tag PolicyPal if you have any other questions and we will do our best to help.​​​

Mortgage insurance are all relatively low in prices. So choose someone you prefer to work with, someone you can trust and are comfortable with.

And if you can afford it, get a level term insurance over a longer period (up to 100 years of age), you can use this to replace your mortgage insurance.

Its better because it won’t decrease(assuming you get a decreasing mortgage term) so it will provide additional money in the event of payout and can also
be reuse when you are looking to invest or buy in a second property.