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Mortgage Insurance for HDB flat - Which is the best option?


Guyver
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Dear all,

 

Just wondering .... for HDB mortgage insurance .... which is the best option?

 

Please share your choice and why.

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i'm assuming it is to a bank that the owner has the mortgage with...

 

most people will just go with the cheapest premium on a decreasing term insurance... coz its mainly to fulfill mortgage loan requirements...

 

i can only check with AXA for rates...

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yeah, there's no best option, only the cheapest option. And also see how much you wanna insure. You insure half, your spouse insure the other half, or both insure full loan amount (if you're kiasu)

some even choose to insure Death, TPD & Major Illnesses.

However, if you have very high coverage already, can simply show the banks and you might not need to purchase mortgage ins liao ...

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yeah, there's no best option, only the cheapest option. And also see how much you wanna insure. You insure half, your spouse insure the other half, or both insure full loan amount (if you're kiasu)

some even choose to insure Death, TPD & Major Illnesses.

However, if you have very high coverage already, can simply show the banks and you might not need to purchase mortgage ins liao ...

 

Now .... the HPS from HDB will cost about $670/yr payable for 27yrs for 2 person.

 

So wanna see are there better options out there.

 

 

 

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yeah, there's no best option, only the cheapest option. And also see how much you wanna insure. You insure half, your spouse insure the other half, or both insure full loan amount (if you're kiasu)

some even choose to insure Death, TPD & Major Illnesses.

However, if you have very high coverage already, can simply show the banks and you might not need to purchase mortgage ins liao ...

 

Yah .... I know about that.

 

But I think mortgage insurance is good to have.

 

Additional is better ....

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