Singaporeans have about 45.8 percent of their assets in residential property, and this is hardly surprising given that more than 90 percent of citizens own a home. This also means mortgage loans make up a large percentage of household liabilities, or 74.6 percent to be exact. For the majority of homeowners, their home is probably their asset for life, with some hoping to transfer it to their loved ones when they pass on. But what happens when something unfortunate befalls the home-owner and he/she will not be able to service the mortgage loan? This is when taking out a mortgage insurance comes in handy, or even necessary, when it comes to protecting your loved ones. Mortgage insurance protects home-owners and their families against losing their homes in the event of death or permanent disability of the former. This is especially so for homeowners who reside in a private property. Mortgage insurance is not to be confused with home insurance.... Continue Reading