Compare and Get the

Best Mortgage Insurance Plan in Singapore (2026)

Compare Quotes from Over 8 insurers, Get the Most Affordable Mortgage insurance protection. Compare Mortgage Reducing and Level Coverage to Protect Your Home Loan Liabilities

GET MY FREE QUOTE

Why Mortgage Insurance

Mortgage reducing insurance is a specialized type of life insurance designed to help pay off an outstanding mortgage balance in the event of the mortgagor passing. As the mortgage balance decreases over time, the coverage amount can be structured to reduce accordingly, ensuring that loved ones are not burdened with mortgage payments. This type of insurance is particularly beneficial for individuals with long-term mortgage commitments who want to protect their family from potential financial hardship

VIEW SAMPLE QUOTES

Specify your loan amount

Decide on the loan amount to be insured for, usually this is the amount of your mortgage loan.

select your loan interest

Select the loan interest rate for the mortgage reducing insurance to decrease by.

Choose your loan tenure

This is the number of years you’ll take to repay your home loan, and your mortgage insurance tenure.

Why Choose Famwealth?

Compare Multiple Insurers
Independent and Unbiased
Expert Advice Available
100% No Obligation

GET QUOTE

Sample Quotes (Latest Rates 2026)

Sample Mortgage Insurance Quotes Covering 1,000,000 Death/Terminal Illness and Total Permanent Disability, Non Smoker Age 35 Cover 30 years, 3% Decreasing for Mortgage Insurance
Insurers	Female Monthly Premium	Male Monthly Premium
Manulife Mortgage Insurance	$51.93	$55
Etiqa Mortgage Insurance	$73.50	$103.25
Income Mortgage Insurance	$70.70	$88.70
Singlife Term	$49	$62.40
Tokio Marine Term	$59.30	$81.80
FWD Term	$54.90	$74.20
China Taiping Term	$45.55	$77

get all quote

Mortgage Insurance F.A.Q

Find answers to commonly asked questions about Mortgage Reducing Insurance in Singapore

Who is eligible to get covered?

If you are of legal age to purchase and own a property, you are eligible to buy a mortgage insurance.

Can foreigners buy mortgage insurance in singapore?

Yes, foreigners, whether residing in Singapore or not, may be eligible to purchase mortgage insurance from most insurers in Singapore.

Do i need to own a property to buy mortgage insurance?

In most cases, you don’t need to prove property ownership or have a financed property to obtain mortgage insurance.

What is the difference between a level and reducing term?

Level term insurance provides a fixed sum assured throughout the entire policy term, offering consistent coverage regardless of time. In contrast, Reducing term insurance features a decreasing sum assured, typically aligned with a repayment mortgage. For example, if you purchase a $1,000,000 policy, a level term plan will maintain that coverage amount for the full term. However, with a 30-year reducing term policy of $1,000,000, the coverage may reduce proportionally over time reaching approximately $500,000 after 15 years.

Term Insurance vs Mortgage insurance: which to buy?

Term insurance offers flexible, cost-effective coverage that benefits your family, while mortgage insurance only pays off your loan but declines in value. Term insurance is usually the better choice, but compare both premiums to find what suits your needs best.

How do i apply and pay?

After our insurance experts contact you via your form submission to clarify your needs and guide you through your options. You can then apply term insurance with them via online or face to face submission. Premium payments can be made via credit card (recurring setup), GIRO, AXS (physical stations, website, or app), or bank transfer through online banking

Have more questions? Chat with us for instant answers to your financial queries!

SAY ‘HELLO’

Book a Family Wealth Review

Get Started