OCBC Mortgage Insurance Reviews and Comparison - Seedly
OCBC Mortgage Insurance
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  • The mortgage staff is very friendly and knowledgeable. Follow up tightly with the customer even after the plan is signed. Professional and good experience overall.
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  • Ocbc Mortgage Insurance is a term plan which cover the loan amount for the required loan term, no matter is HDB or condo. The good thing about the private insurance is that no matter you sell your property later, the insurance will still remain coverage.
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OCBC Mortgage Insurance

NTUC Income Mortgage Term

AIA Mortgage Reducing Term Assurance

Tokio Marine TM Mortgage Protection

Hi Anon, you could ask an independent financial advisor like me for a comparison from multiple insurers for mortgage insurance. If you'd like to keep your confidentiality, you could drop me an email at [email protected] with your date of birth, gender, smoking status, the sum assured, policy term, and whether you'd like to get a joint-life or single life policy. I'll be able to let you know what are the cheapest options available. :)

OCBC Mortgage Insurance

NTUC Income Mortgage Term

AIA Mortgage Reducing Term Assurance

Tokio Marine TM Mortgage Protection

Manulife ManuProtect Decreasing

Haven't seen a group mortgage policy yet but the same cons apply to group policies. 1) You don't own the policy. 2) T&Cs can change without your discretion. 3) Premiums can change for better or worse. 4) You might not be able to carry on the policy after leaving the "group". Pro: 1) Cheaper. For anything as important as leaving a huge liability that you know your family won't be able to handle, make sure you have full control and rights to the insurance policy meant to help you out. Just get a private policy.
About OCBC Mortgage Insurance
Product NameOCBC Mortgage Insurance
Term Period6 to 40 years
Rider(s)Premium Waiver Critical Illness Rider

About OCBC Mortgage Reducing Term Cover

There are the following 3 plans:

  • Mortgage Protector Plus – Single Premium that refunds premium paid if no claims by end of the policy term
  • Mortgage Protect Advantage – Regular premium that offers full refund of total premiums paid if no claims are made by the end of the policy term
  • Mortgage Protect – Regular Premium with no premium refund option

Mortgage Protector Plus

Coverage: Death and Total & Permanent Disability

Surrender Value: Refund of at least 75% of the single premium paid

Mortgage Protect Advantage

Coverage: Death, Terminal Illness and Total & Permanent Disability

Surrender Value: Refund of at least 40% of the single premium paid

Mortgage Protect

Coverage: Death, Terminal Illness and Total & Permanent Disability

Surrender Value: No refund.

When an event happens, you will get a one-off payment of your remaining assured amount, which can be used to pay of the remaining mortgage. The 3 plans are also available as an individual or joint-life policy.