May 24 2012, 03:14 PM
QUOTE(kelvin2080 @ May 21 2012, 11:18 PM)
As mentioned in topic, anyone of you can please advice. If i buy MLTA property insurance, does it mean i no need to buy personal life insurance? This 2 insurance is same?
For myself, i got bought the personal life insurance in age 21. Heard from the insurance agent, personal life insurance should buy early, because it's more cheap compare later.
How about MLTA?
Hi, MLTA actually is life insurance for purpose of mortgage purpose. They are same with personal life insurance as well. But don't mix up this 2 plan cause different purposes am... For myself, i got bought the personal life insurance in age 21. Heard from the insurance agent, personal life insurance should buy early, because it's more cheap compare later.
How about MLTA?
MLTA is in case of death and TPD happened, your home loan will settle by insurance company, BUT the values must sufficient. Then may got balance pay to your beneficiary after home loan deducted at the several years instalment.
Personal life insurance is in case of death and TPD happened, lump sum money will pay to your lovely wife, children or parents. Because you are the economic pillar for the family. Just imagine that, if you just bought MLTA, anything happens, the home is FOC but how bout the daily expenditure, children education fees....etc
So plan yourself and choose for the most suitable plan yourself. If you need any advise pls feel free to contact me @ 012.388.6323. Tq
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