AIA Mortgage Reducing Term Assurance

Travel and Lifestyle

Period

term

Issue Age

16 - 70 years old

Currency

S$

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AIA APPOINTED representative

WHAT THIS PRODUCT IS ABOUT

AIA Mortgage Reducing Term Assurance helps you keep the family home in the family, so that your loved ones can continue to cherish the memories created there for generations to come. This is a flexible protection home mortgage insurance plan created for homeowners who have taken out a housing loan. If the worst should happen, we’ll take care of your loved ones by paying what’s remaining of your housing loan.

what does it provide?

TOTAL MORTGAGE PAYMENT SHOULD MISFORTUNE STRIKE

Should you suffer a disability or terminal illness or unfortunately pass away, your chosen coverage amount will help to pay your outstanding housing loan, easing the financial burden for your loved ones.
PREMIUM WAIVER

You won’t have to make future payments should a disability, terminal illness or critical illness strike. Let us fund it.
25% OF COVERAGE FOR FREE

You only need to pay premiums for 75% of your mortgage payment term and enjoy the last 25% on us. That means for a 30-year home loan, you get the last 7.5 years of coverage for free.
COVERAGE THAT MOVES WITH YOU

If you have repaid your loan or decided to sell your home, you can continue to enjoy coverage, up to your 75^th birthday.

GET IN TOUCH

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Are you an existing AIA Singapore customer?*

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Partial NRIC / Passport / FIN No.

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Date of Birth

THE FINE PRINT

the terms and conditions at a glance

This plan only covers individuals, who has a mortgage loan on a residential property.
We will pay the coverage amount and waive the premium should a disability strike before the age of 65.

DETAILED TERMS AND CONDITIONS

- COLLAPSE + EXPAND

EXCLUSIONS

Things that you won't be able to claim from this policy

There are certain conditions such as pre-existing conditions, for which no benefits will be payable. Please refer to the policy contract for the full list of exclusions.

waiting period

A minimum period of 90 days must have passed between the policy issue date or reactivated date and diagnosis of the following conditions before a claim can be made:

Coronary artery by-pass surgery
Other serious coronary artery disease
Heart attack of specified severity
Major cancers

deferment period

A deferment period applies for total and permanent disability, for which no benefits will be payable. Please refer to the policy contract for details.

IMPORTANT NOTES

This insurance plan is underwritten by AIA Singapore Private Limited (Reg. No. 201106386R) (“AIA”). All insurance applications are subject to AIA’s underwriting and acceptance.

This is not a contract of insurance. The precise terms and conditions of this plan, including exclusions whereby the benefits under your policy may not be paid out, are specified in the policy contract. You are advised to read the policy contract.

As buying a life insurance policy is a long-term commitment, an early termination of the policy usually involves high costs and the surrender value, if any, that is payable to you may be zero or less than the total premiums paid. You should consider carefully before terminating the policy or switching to a new one as there may be disadvantages in doing so. The new policy may cost more or have fewer benefits at the same cost.

This policy is 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 the coverage, where applicable, please contact your insurer or visit the GIA/LIA or SDIC web-sites (www.gia.org.sg or www.lia.org.sg or www.sdic.org.sg).

This advertisement has not been reviewed by the Monetary Authority of Singapore.

The information is correct as at 10 December 2018.

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AIA Mortgage Reducing Term Assurance

term

16 - 70 years old

S$

AIA APPOINTED representative

WHAT THIS PRODUCT IS ABOUT

Talk To Us

what does it provide?

TOTAL MORTGAGE PAYMENT SHOULD MISFORTUNE STRIKE

PREMIUM WAIVER

25% OF COVERAGE FOR FREE

COVERAGE THAT MOVES WITH YOU

Get in touch

Thank You

THE FINE PRINT

the terms and conditions at a glance

DETAILED TERMS AND CONDITIONS

DETAILED TERMS AND CONDITIONS