PRUmortgage Refund Premier

PRUmortgage refund premier is a decreasing term plan¹ designed to help safeguard your family's future. It protects you against mortgage liability in the event the unforeseen happens. Now, you can be assured that your family receives the protection that they need even as your dream is being fulfilled.

Benefits

Achieve peace of mind without a monthly liability
- PRUmortgage refund premier is a single premium plan, which means you don’t have to worry about monthly payments and can concentrate on providing for your family.
Protect against the unforeseen with a lump sum payout
- PRUmortgage refund premier offers you coverage against Death, Terminal Illness, and Total and Permanent Disability², providing you and your loved ones with valuable protection against the uncertainties in life. You’ll receive a lump sum payout should a claim be made to help you pay for outstanding mortgage loans, so your loved ones will not be further laden with financial liabilities.
Pursue your other goals
- If no claim is made by the end of the policy term, you will receive a 100% refund of your premium, which you can use to achieve your other life goals.
Joint-life³ policy option available
- PRUmortgage refund premier is available as an individual or joint-life³ policy. For a joint-life³ policy, both you and your partner or loved one will enjoy coverage if both are joint owners of the mortgage loan.
Choices to suit your coverage needs
- We understand that you might have different coverage needs; hence we provide:
  - A choice of coverage term between 10 to 35 years⁴ that matches your mortgage loan to ensure that you and your family will always be protected.
  - A range of interest rates to determine a suitable sum assured amount that meets your outstanding mortgage loan repayment, potentially ensuring your home mortgage is adequately covered.

HOW IT WORKS

How PRUmortgage refund premier works: Mr. Lim (age 35, non-smoker) bought a house with his wife. They took a loan of S$500,000 for 20 years at an interest rate of 2% per annum. They also purchased PRUmortgage refund premier to cover their mortgage liability. However, on the 10th year, Mr. Lim passed away due to an unfortunate event.

Here is how PRUmortgage refund premier can help his wife cope with the mortgage liability.

Life Assured	Single Premium
Husband, 35 age next birthday, non-smoker	S$29,703.75
Wife, 30 age next birthday, non-smoker	S$29,703.75

Policy Year	Guaranteed Death Benefits
Year 1	S$500,000
Year 5	S$415,500
Year 10	S$299,500

Upon Mr. Lim's passing, PRUmortgage refund premier will pay out a lump sum of S$299,500⁵ to cover for the remaining mortgage loan, and the policy will terminate after the claim.

If Mr. and Mrs. Lim did not make any claim during the policy term, PRUmortgage refund premier will refund 100% of the total premium paid (S$29,703.75) at the end of year 20.

Footnotes:

Decreasing term plan means the sum assured of the plan will reduce annually according to the interest rate and the policy term selected at the start of the policy. PRUmortgage refund premier is a non-participating decreasing term plan.
The policy provides coverage against Total and Permanent Disability (“TPD”), provided the Disability occurs before the Cover Expiry Date of the policy, or before the policy anniversary prior to the life assured attaining age 65 next birthday, whichever is earlier.
For joint-life PRUmortgage refund premier policy, the benefits will be payable if either one of the two Life Assureds (first occurrence only) dies, becomes Totally and Permanently Disabled or suffers Terminal Illness during the coverage period as stated on the Certificate of Life Assurance. If both Life Assureds either die, become Totally and Permanently Disabled or suffer Terminal Illness at the same time, Prudential pays only for the first Life Assured (not both) named on the Certificate of Life Assurance. Please refer to the policy document for specific details.
Terms available from 10 to 35 years or up to age 80 next birthday, whichever is earlier.
Prudential will deduct any outstanding amounts owing to them in connection with the policy before paying the Death Benefit. If the sum assured has been reduced previously, the premium would be correspondingly reduced. The revised reduced premium will be taken as the total premium paid as if it has been paid from the start of the policy. If the sum assured was reduced more than once, Prudential will take the latest revised reduced premium.

Important Notice and Disclaimers

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 (if any) may be less than the total premiums paid. This marketing material is for reference only and is not a contract of assurance nor is it intended as an offer or recommendation with respect to the purchase or sale of the products stated herein. The precise terms and conditions, specific details and exclusions applicable to these insurance products stated herein are specified in the respective policy documents. The above is for general information only and does not have any regard to your specific investment objectives, financial situation and any of your particular needs. You are recommended to read the policy documents and to seek advice from a financial adviser with regards to your specific investment objectives, financial situation and any of your particular needs before making a commitment to purchase any insurance products. In the event that you choose not to seek advice from a financial adviser, you should consider carefully whether any of the insurance products is/are suitable for you. In case of inconsistency between the English and Chinese versions, the English version shall apply and prevail. United Overseas Bank Limited does not hold itself out to be an insurer, insurance broker or insurance agent. The insurance products stated herein are provided by Prudential Assurance Company Singapore (Pte) Limited.

United Overseas Bank Limited Co. Reg. No. 193500026Z
Prudential Assurance Company Singapore (Pte) Limited Reg. No. 199002477Z
Information is correct as at 5 August 2012.