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Reducing coverage - Mortgage Protector Series
Benefits
Provide financial protection on your outstanding mortgage payments in an unfortunate event (death, total & permanent disability, terminal illness)
Available as an individual or joint-life policy
Receive 100% refund of your premium(s) at the end of the policy term with Mortgage Protector Plus and Mortgage Protector Advantage if no claims have been made.
Choice of policy terms from 6 to 40 years
Our 3 plans and their features
- Mortgage Protector Plus -
Single premium plan that assures you a full refund of your single premium if no claims were made by the end of the policy term - Mortgage Protector Advantage - Regular premium plan that assures you a full refund of your total premiums paid if no claims were made by the end of the policy term
- Mortgage Protector - Regular premium plan without refund of premium
| Events covered |
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| When an event happens | You will get a one-off payment of your remaining sum assured, which can be used to pay off the remaining mortgage. | ||
| When no claims were made during the policy term | You will get a full refund of your single premium at the end of the policy term. | You will get a full refund of the premiums you have paid at the end of the policy term. | No refund. |
| When the policy is terminated early | You will get back at least 75% of the single premium you have paid. | You will get back at least 40% of the premiums you have paid from the 7th year. | No refund. |
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Call us
(65) 6722 2293
Operating hours are from
9am to 6pm, Mondays to Fridays
(excluding public holidays)
Important notices
Important notes for plans under the Mortgage Protector Series
Mortgage Protector Plus, Mortgage Protector Advantage and Mortgage Protector are reducing term insurance plans underwritten by The Great Eastern Life Assurance Company Limited, a wholly owned subsidiary of Great Eastern Holdings Limited and a member of the OCBC Group, and are not deposits or obligations of, or guaranteed by OCBC Bank. You may wish to seek advice from a financial advisor before making a commitment to purchase a life insurance policy. In the event that you choose not to seek advice from a financial advisor, you should consider whether the life policy in question is suitable for you.
Buying a life insurance policy is a long-term commitment. An early termination of the policy usually involves high costs and the surrender value payable may be less than the total premiums paid.
The material is for general information only. It is not a contract of insurance. It does not constitute an offer to buy an insurance product or service. It is also not intended to provide any insurance or financial advice. The specific terms and conditions of the plan are set out in the policy documents. A person interested in the insurance policies should read the product summary and benefit illustration (available from OCBC Bank) before deciding whether or not to buy this product.
No representation and warranty whatsoever in respect of any information provided herein is given by OCBC Bank and it should not be relied as such. OCBC Bank does not undertake an obligation to update the information or to correct any inaccuracy that may become apparent at a later time. All information is subject to change without notice. OCBC Bank shall not be liable for any loss or damage whatsoever arising directly or indirectly howsoever in connection with or as a result of the person acting on the information provided herein.
Policy Owners’ Protection Scheme
These plans are protected under the Policy Owners' Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact us or visit the Life Insurance Association (LIA) or SDIC websites (www.lia.org.sg or www.sdic.org.sg).
