Provides financial protection against your outstanding mortgage loan¹ in the event of Death², Total and Permanent Disability (TPD) or Terminal Illness³.
Enjoy Free Cover Limit (FCL) up to RM600,0004 without additional medical underwriting.
Additional financial support with Compassionate Benefit of 5% of the applicable sum assured¹ in one lump sum upon the approval of death claim.
Enjoy 100% refund of the premiums paid (including loading premium and excluding taxes, if any) upon maturity provided no claims have been made.
1For more comprehensive mortgage protection, it is recommended that the sum assured is equal to the loan amount. If a lower sum assured is chosen, you or your beneficiaries may be responsible for any shortfall in the outstanding loan balance. The applicable sum assured reduces on a monthly basis throughout the insurance coverage term.
²Death benefit is not payable if death was due to suicide or any pre-existing condition within the first year, all premiums paid (excluding taxes, if any) will be returned without interest.
³TPD and Terminal Illness benefit is not payable if the disability/illness is directly or indirectly caused by any pre-existing condition within the first year.
4FCL up to RM600,000 Sum Assured for Age Next Birthday (ANB) 18–50 and RM300,000 Sum Assured for ANB 51–55.
Click here for a Product Disclosure Sheet (PDS) sample.
• MortgageCover Plus is a single premium group mortgage reducing term insurance plan underwritten by Prudential Assurance Malaysia Berhad 198301012262 (107655-U) and distributed by Standard Chartered Bank Malaysia Berhad (“Bank”) 198401003274. Prudential Assurance Malaysia Berhad (PAMB) is a licensed insurance company under the Financial Services Act 2013 that is regulated by Bank Negara Malaysia.
• PAMB is responsible for the products and benefits offered by them, as well as any representation made in any of their marketing materials. The Bank accepts no responsibility or liability for the plan or the products and services offered by Prudential Assurance Malaysia Berhad.
• This material contains only a brief description of the product and is not exhaustive. You are advised to visit any of our branches and to refer to Product eFlyer, Product Disclosure Sheet and Sales Illustration before purchasing a plan, and to refer to the terms and conditions in the insurance certificate for details of the important features and benefits under the plan.
• Buying life insurance policy is a long-term financial commitment. You must choose the type of certificate that best suits your personal circumstances. You should read and understand the insurance certificate and discuss with the Bank’s representative or contact PAMB directly for more information.
• You should satisfy yourself that this plan will best serve your needs and that the premium payable under the plan is an amount that you can afford. To achieve this, we recommend that you speak to your Bank Representative.
• You can surrender the certificate at any time. However, if you terminate the certificate, you may get back less than the amount you have paid in. Upon surrender, a surrender value will be payable and all benefits under this plan will be terminated.
• There is a free-look period of 30 days after the certificate has been delivered to you to allow you to review it if it meets your needs. If the certificate is cancelled within this period, PAMB will refund you the premiums and taxes (if any) that you have paid, less any medical fee incurred.
• Any age reference shall be on the basis of Age Next Birthday.
The benefit(s) payable under eligible certificate/policy/product is(are) protected by PIDM up to limits. Please refer to PIDM’s TIPS Brochure or contact PAMB or PIDM (visit www.pidm.gov.my).
