Dear All sifu,

I am looking for the MRTA or MLTA for my new house. I have survey the MRTA and MLTA insurance from great eastern and Ambank. i found that the Ambank insurance is very cehap if compare with other insurance company. So i wonder and worry is there any term and condition not hightlighted.

For the MLTA:

Monthly Saving 417
Protection 200K
Year 10 (pay until 10 years only)

Cash out at
Year 15th 52,252
20th 62,507
25th 73,593
30th 86,660
Until whole
Live Age 99

I am newbie for the insurance, so i am looking help from all sifu hear.
Thanks in advance.

Maybe you may pm me your DOB, i can quote you MLTA from Hong Leong Assurance for you to compare.
I have many type of MLTA available which is
1) MLTA without surrender value
2) MLTA with Guaranteed surrender value
3) MLTA with Non Guaranteed surrender value.



This post has been edited by onnying88: Nov 2 2009, 06:55 PM

Hi Onnying

Please quote me the MRTA (RM200k, 25 years) and MLTA.
DOB: 2th september 1982

Does the MRTA transferable or refundable?

Thanks

For MRTA, coverage RM200k for 25years.
Single premium = RM4012

For MRTA, The coverage is decreasing yearly and it's not transferable and have no surrender value at the end of 25years. That's mean everytime you refinance, sell the property or change the property, you have to buy another new MRTA for the loan. And do take note that when your age go up, the premium also go up in future.


For MLTA type 1, with no surrender value. Coverage RM200k for 25years
Monthly premium= RM52.33
Yearly payment = RM598

This MLTA type 1 have no surrender value at the end of 25years. But it provide level coverage of RM200k throughout 25years. And this MLTA is transferable in future for any refinance, change property or even after settle the loan. You just have to keep pay the monthly premium RM52.33/mth to enjoy RM200k coverage up to 25years.



For MLTA type 2, with GUARANTEED surrender value. Coverage RM200k for up to age 100
Monthly premium = RM170.98
Yearly premium = RM1954

Surrender value at years 16 = RM34234 GUARANTEED (Years 16= break even year as total payment using mthly = RM32828)
Surrender value at years 20 = RM45724
Surrender value at years 25 = RM61764
Surrender value at years 30 = RM79198


This MLTA type 2 with GUARANTEED surrender value can be use up to age 100 as long you want to continue it. And it also provide level coverage of RM200k. And this MLTA type 2 is also transferable in future for any refinance, change property or even after settle the loan.


Any question about the this MRTA or MLTA please just ask me

Onn