Hi wiind,

I have to tell you the whole picture of MLTA including MRTA so that you will understand the reason why people will say MLTA is "transferable" and how it "linked" to your property.

Due to the fact that MRTA is a single premium lump sum payment, usually policyholder will purchase MRTA through the service of loan ie: bundle with the housing loan. When MRTA is bundle with housing loan, the MRTA will have to absolute assign to the bank and the bank will be the "owner" of the policy instead of you. If you settle the loan early, the bank will not transfer the ownership back to you but the bank will just surrender the policy and you will get back the surrender value which usually wouldn't worth much.

Whereas, due to the fact that MLTA is a regular premium, policyholder will purchase it either from a insurance agent or from a bank. However, most of the time policyholder will prefer to purchase it from insurance agent because purchasing from bank will fall into the same problem as above, where your policy will be attached to the bank instead of you and you have no right to alter/surrender/amend the policy.

MLTA initially stand for Mortgage Level Term Assurance, it suppose a term insurance. However, most of the agent nowadays will promote Investment link to substitute "MLTA" due to the fact that Investment link can have lower initial setup cost compare to MLTA in some case. Since this MLTA or we can actually call it Life insurance is attached to you(the policyholder), you can actually call it House A's MLTA on your own but not in paper. When House A's loan is done, you can name it to House B's MLTA on your own. Whatever the name is, the MLTA promise to payout a lump sum of payment when you leave your last word and your heir can use the money to pay off the loan.

One question we will ask ourselves, would our children use our "MLTA" to clear the debt or they will use it to buy a Lamborghini? In order to avoid that, actually you can make your Personal Insurance to "attach" to a certain property via will.

When you write a will, you may include a instruction in your will to your executor to use certain policy to payoff certain property. You can strategize your will such that all your debt is fully covered and your executor will use the insurance payout that you "attached" to the property to pay off the loan before inherit it to your next of kin.

Well, I'm sure you will still think that, your heirs might still can sell out all the houses after they inherit your property and buy a Lamborghini right? You may arrange a testamentary trust so that you will only inherit your houses to them one by one on certain age like what Whitney Houston has done to her daughter.

I'm a will writer and an insurance agent, I would able to help you to arrange for the above said arrangement shall you have the need