Just wan to know, which is the cheapest?

Hi,
The home insurance you mean is fire insurance or mortgage insurance?

If it's mortgage insurance, the plans that offers no cash value is always the cheapest. For example MRTA and term life insurance.
However, nowadays the home buyers prefer MLTA which offers a cash value when the loan has been settled. They don't want their premium paid to be totally burnt. Since they can afford to pay slightly higher for the premium, why not they just pay slightly more so that at the end they can get back their premium paid + interest?

This post has been edited by gavin_lim: Jun 15 2010, 12:24 AM

Pm me your loan and personal detail if you need quotation for MLTA or MRTA. Will let you know the pros and cons and the premium too.

Is it important to get one since I dun have dependent yet; and have already gotten life insurance?

Well, you may combine your life insurance as MLTA also, but you have to make it clear what's the purpose you getting life insurance at first? And also do the life insurance coverage alone enough to cover for the loan + extra money to family. Life insurance is for family, MLTA is to cover property loan burden. It's always better to prepare before event occur.

Since saving is a good habit, many people will also getting MLTA as a saving in long term as some MLTA will have guaranteed surrender value, so you will getting back the
cash + interest + free protection all in one.

Actually im asking this behalf of my parents but they bought it today edi. anyways thx for the inputs guys.