AIA Mortgage Reducing Term Assurance Review
The complete Pros and Cons on AIA Mortgage Reducing Term Assurance
NOTE: AIA Mortgage Reducing Term Assurance has been discontinued. For further information and details about this plan, fill up the form below and let us advise you accordingly.
AIA Mortgage Reducing Term Assurance product details
- Non-participating policy – Term policy
- Issuance age from 16 to 70 years old
- Should you be suffering a disability or terminal illness or unfortunately pass away, your chosen coverage amount will help to pay your outstanding housing loan
- Future premium waiver should a disability, terminal illness or critical illness strike
- Pay premiums for 75% of your mortgage payment term and enjoy the last 25% free
- If you have repaid your loan or decided to sell your home, you can continue to enjoy coverage, up to your 75th birthday
Read About: Term Policy: How does it work?
Read About: 3 things to consider before taking up a new financial product
Features of AIA Mortgage Reducing Term Assurance at a glance
Cash and Cash Withdrawal Benefits
Cash value: No
Cash withdrawal benefits: No
Health and Insurance Coverage
Death: Yes
Total Permanent Disability: Yes
Terminal Illness: Yes
Critical Illness: No
Early Critical Illness: No
Health and Insurance Coverage Multiplier
Death: No
Total Permanent Disability: No
Terminal Illness: No
Critical Illness: No
Early Critical Illness: No
Optional Add-on Riders
NA
Additional Features and Benefits
Yes.
For further information and details, refer to AIA website. Alternatively, fill up the form below and let us advise accordingly.
Read Also: No budget for financial planning?
AIA Mortgage Reducing Term Assurance may be suitable if you are looking for
AIA Mortgage Reducing Term Assurance may potentially be a good fit if the following matters to you:
- High Health and Protection coverage
- High insurance coverage for Death or Terminal Illness
- High insurance coverage for Early Critical Illness, Critical Illness or Total Permanent Disability
- Lower initial premium compared to other types of insurance policies
- Looking to boost insurance coverage or fill shortfall in insurance portfolio
AIA Mortgage Reducing Term Assurance may not be suitable if you are looking for
AIA Mortgage Reducing Term Assurance may potentially be a bad fit if the following matters to you:
- Long-term cash accumulation
- Regular cash payout
- A one-time premium commitment with no further cash commitment
- Insurance policy with a surrender value.
Further considerations on AIA Mortgage Reducing Term Assurance
- How is AIA or AIA Mortgage Reducing Term Assurance payout and claims based on past track record?
- How does AIA Mortgage Reducing Term Assurance compare with Term policy from other insurance companies?
- Can AIA Mortgage Reducing Term Assurance fulfil my financial, insurance, health and protection needs?
The above information may not fully highlight all the product details and features on AIA Mortgage Reducing Term Assurance. Talk to us or seek advice from a financial adviser before making any decision about AIA Mortgage Reducing Term Assurance).
Always ensure your long-term financial goals and objectives are aligned with the financial product you are considering to take up.
Is AIA Mortgage Reducing Term Assurance suitable for me?
Contact InterestGuru using the form below. Our panel of licensed financial advisers will advise accordingly, based on your financial profile and protection needs.
All financial reviews and proposals provided are 100% free of charge. There will be no obligation to take up any proposed financial products or services in any way.
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