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Mortgage, Life Insurance, MRTA, Please help
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TSFat3Twister
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 Nov 4 2009, 03:58 PM, updated 17y ago
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Hi, i have several questions to ask. Hope the pros out there can help to enlighten me.
1. If I am 50 y.o. and I wish to buy a house(new or used also can) worth RM 200k, what is the MOF and max tenure i can get?
2. If I am 50 y.o. and i have a loan-free house(free hold) worth RM 400k and i wish to refinance it, what is the MOF and max tenure i can get?
3. For each of the case above, how much is the MRTA or life insurance with riders(to cover the loan amount)?
Assume I have only 1 kid at 14 y.o...
This post has been edited by Fat3Twister: Nov 4 2009, 04:34 PM
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mtsen
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Nov 4 2009, 04:17 PM
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1. used or new ( 60-90%, 10-15 years )
2. lease or freehold ( 60-90%, 10-15 years )
3. IVP 2k per year thereabout.
Added on November 4, 2009, 4:19 pmlanded or not also matters ...
This post has been edited by mtsen: Nov 4 2009, 04:19 PM
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TSFat3Twister
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Nov 4 2009, 04:36 PM
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QUOTE(mtsen @ Nov 4 2009, 04:17 PM) 1. used or new ( 60-90%, 10-15 years ) 2. lease or freehold ( 60-90%, 10-15 years ) 3. IVP 2k per year thereabout.
Added on November 4, 2009, 4:19 pmlanded or not also matters ... thanks for yourt reply...post edited... Btw, i don't understand your answer for Q3. Would you mind to elaborate more? |
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storm88
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Nov 4 2009, 05:16 PM
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ivp, investment linked i assume?
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dunknwy
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Nov 4 2009, 10:20 PM
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New Member
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It is better for you to choose MLTA and you can get enough coverage. Also, it is better for you to take MLTA with life insurance since you close to retirement age.
You can contact me if you need further info. Thanks.
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