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.



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

Wife, 30 age next birthday, non-smoker

Policy Year Guaranteed Death Benefits

Year 1

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.


  1. 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.
  2. 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.
  3. 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.
  4. Terms available from 10 to 35 years or up to age 80 next birthday, whichever is earlier.
  5. 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.