Best Mortgage Insurance Singapore 2026

As long as you’re of legal age to purchase or co-own a property in Singapore, you’re eligible to apply for a mortgage insurance plan.

Yes, most insurers in Singapore offer mortgage insurance to foreigners — whether you’re residing in Singapore or based overseas.

Not necessarily. In many cases, you can apply for mortgage insurance even if you don’t yet own or finance a property.

Term insurance offers broader, flexible coverage that protects your loved ones directly, while mortgage insurance specifically covers your home loan and decreases over time. Term plans are often the better option, but comparing both based on premiums and goals is the best approach.

For more information, please read: Term Insurance VS Mortgage Reducing Term – Which Should You Get For Your Mortgage?

Not necessary. If it is a private property, the sum assured and coverage period term need not be the same, as the onus is on you.

On the other hand, if you are using a Mortgage Insurance to replace a HPS, you need to make sure the coverage tenure and amount is enough for HDB to accept it.

Yes there is. Some other supplementary benefit riders you can add on to further enhance your coverage is:

– Critical Illness (Early to Advance Stage)
– Premium Waiver in the event of Early Critical Illness
– Total and Permanent Disability

You can also alter and customise the coverage period best suited to your tenure. For HDB, it has to match your loan term. For private properties, you can have it at your discretion but our advice is to match the actual loan tenure.

You also can choose the interest rate to be reduced for your MRTA. Interest rate is included to factor in inflation and how fast the sum assured decreases yearly. A high interest rate slows down the yearly decreasing rate.

The premiums for Death and TPD will remain constant throughout. However as with all insurers and Critical Illness landscape, the CI supplementary riders are not guaranteed as this is based on claim history on insurer’s records.

Once you submit your contact form, our insurance specialists will reach out to understand your needs and walk you through your options. You can apply online or in person. Premiums can be paid via credit card (recurring setup), GIRO, AXS (machine, app, or web), or direct bank transfer.