QUOTE(SWIFT88 @ May 21 2013, 03:32 AM)
you can choose to pay off on your own or finance it
Mrta ,,,, my opinion, depending your main objective actually. Own- stay vs investment.
Mrta serves the purpose for own-stay, as loan repayment coverage for you n your family.
For investment, I think the property value itself already serves as natural hedging tool to cover your debt ( loan w bank).
With due respect to anyone here working in insurance sector, I personally never like the way insurance business model being structured. We maybe need 1 insurance coverage in our life as necessity, that s it.
Banks will do their utmost best to have cross-sale arrangement, providing loan together with mrta, as insurance is part of their group's business. Mrta should be always optional to banks' customers, never being put as mandatory, simply against good business practice.
IMHO.