Mortgage Level Term Assurance

You finally own the house of your dreams. Your next thought would be to perfect your home and provide your loved ones with the financial security they deserve. With Mortgage Level Term Assurance by AmMetLife, you can now safeguard your family with a home complete with protection and comfort to give you peace of mind.

Click here to know more about Mortgage Level Term Assurance.

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Decreasing Term Assurance

Your loved ones are your ultimate priority whilst pursuing your dreams. Let not your outstanding Term Loan/Personal Loan affect their comfort and financial security. Protect and provide your family with peace of mind.

With AmMetLife’s Decreasing Term Assurance, rest assured that your Term Loan/Personal Loan with AmBank will be taken care of should the occurrence of any unfortunate event cause Death or Total and Permanent Disability (TPD) to you.

Click here to know more about Decreasing Term Assurance.

This is an Bancassurance product.

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AmMetLife AutoLife

Presenting AmMetLife AutoLife, a life insurance plan that ensures your car will always remain yours. With AmMetLife AutoLife, should unforeseen circumstances like Death or Total and Permanent Disability (TPD) happen to you, AmMetLife Insurance will settle the outstanding hire purchase loan on decreasing sum assured basis to your bank. So, protect your car loan now, and have peace of mind

This is a Bancassurance product.

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Features & Benefits


  • An initial sum assured equal to the amount of your outstanding loan
  • The sum assured will be reduced in accordance with the installment payments according to the Table of Reducing Sum Assured attached to the policy

Single Premium with Long Term Protection - With only one payment, you are assured of a long-term protection for the entire duration of the hire purchase repayment period

24-Hour Worldwide Coverage - You’ll receive coverage for Death or TPD (up to age 65), anytime, anywhere

One Lump Sum Payment - In the event of claim due to Death or TPD, we will pay the proceeds to the financier in one lump sum.


  • All borrowers age of next birthday between 18 to 50
  • Minimum term of assurance is one (1) year
  • Maximum term of assurance is nine (9) years

Frequently Asked Questions

Is AmMetLife AutoLife payable on top of all other insurance plans that I have?

The reduced sum assured will be paid even if you have several other insurance plans

Does the death or TPD have to be as a result of a car accident should I need to make a claim against this policy?

No. AmMetLife AutoLife offers 24-hour global coverage against death or TPD due to both natural causes and accident.

How to make a claim?

Simply make contact at the branch where the AmMetLife AutoLife policy was signed or at the closest AmMetLife Insurance branch by providing the necessary documents. We will pay the insurance proceeds to your bank to settle your hire purchase loan according to the Table of Reducing Sum Assured as shown in the policy schedule.

How can I get covered by AmMetLife AutoLife?

If you are new or existing borrower, you can complete the proposal form at any AmBank or AmMetLife Insurance branch.

Mortgage Reducing Term Assurance (MRTA)

MRTA comes with the following attractive benefits & features

  • 24-hour worldwide coverage for death or total & permanent disability protecting your home by settling your mortgage balance with one lump sum payment to the financier
  • One time premium payment to enjoy coverage for the entire duration of your home financing, with an option to amortise it over the period of your housing loan via single contribution financing
  • One year validity for premiums quoted on the offer letter, even if your age increases
  • Flexible coverage for completed properties and properties under construction.

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  • Open to individuals aged 18-65 (age next birthday)
  • Term of assurance is from 2 years to 35 years depending on your loan tenure
  • Age plus term of policy can be up to 70 years.


  1. You are advised to ensure that this plan will best meet your needs and the premium payable under this policy is an amount you can afford
  2. Also, if you cancel this policy in the early years, you may not be able to achieve the full value from the amount you have paid
  3. There is a free-look period of 15 days after the receipt of your policy to allow you to review if it meets your needs. If the policy is returned within the period, the premium will be refunded, subject to deduction of any expenses incurred for medical examination
  4. This brochure is for illustration purpose only. For further details on the terms and conditions, please refer to your policy document
  5. Please refer to the sales illustration pertaining to your policy provided to you by AmMetLife.

Disclaimer: The information, statement and/or descriptions contained herein are strictly meant to be general information for quick reference and illustration purposes only and are not intended to be the complite description of all terms and conditions applicable to any products mentioned herein. Please refer to the Product Disclosure Sheet (PDS) for more information.

For further clarification and information, you may contact our Customer Care Centre at 1300 88 8800.