Outline ·
[ Standard ] ·
Linear+
Get 40 yrs loan +MLTA at 30, if I'm done at 69?, Regarding MLTA again..
|
Jasoncat
|
 Sep 10 2014, 07:33 AM
|
|
QUOTE(InF.anime @ Sep 10 2014, 12:35 AM) So let's say if you bough a 1.5 mil house at 30.9 yrs old.. and you took 40 yrs loan (I know now is 35 only). Then at the 39th years serving the loan you die due to ageing (normal case la.. as male always die earlier). So, the bank will pay your family 1.5m? Means they get 1.5mil + a house? So they best time to buy in a few is @30 y/o with 40 years loan + MLTA? So MLTA insurance us always better in this case? (Sorry la, if you die 71y/o you lose 1.5mil) For MLTA, whether you are gone at year 1 or year 39, your beneficiary will get your insured amount, says RM1.5 mil in this case. If you buy the MLTA at older age, the annual premium will be higher. |
|
|
|
|
|
Jasoncat
|
Sep 10 2014, 08:33 AM
|
|
|
QUOTE(kidmad @ Sep 10 2014, 08:31 AM) take MLTA like a life insurance policy.. then you will be understand them better. MLTA for rm1.5m would not be cheap for sure. +1 |
|
|
|
|
|
Jasoncat
|
Sep 10 2014, 08:50 AM
|
|
|
There are a lot of insurance packages in the market, just do some study and find the one that suits you most.
|
|
|
|
|
|
Jasoncat
|
Sep 10 2014, 01:32 PM
|
|
|
QUOTE(fishshuyi @ Sep 10 2014, 11:08 AM)
MLTA Protection Remain
MRTA Protection Reducing
MLTA Fully covered outstanding loan amount and Additional protection plan to family
MRTA Insufficient to cover whole out standing
MLTA Serve as for any new purchase or refinancing in future
MRTA Policy Terminated
MLTA can use cash value in acc to settle your loan earlier
MRTA not applicable
MLTA premium maintain
MRTA serve more premiums when finance by bank. Interest is tied up withBLR!! At the end premium Burn.
Regard
Fish 0169661681It's misleading to say MRTA insufficient to cover whole outstanding. It depends on the coverage you bought. If MRTA policy is terminated earlier (says because the loan is settled earlier), you can still get back the "unused" premium. |
|
|
|
|
|
Jasoncat
|
Sep 10 2014, 07:01 PM
|
|
|
QUOTE(cfa28 @ Sep 10 2014, 05:01 PM) Tks Bro, please also include MRTA. Am pretty sure MRTA, RM1.5 mln + 40-yrs, premium > RM100K MRTA premium > RM100k!? Tak mungkin lar bro. |
|
|
|
|
|
Jasoncat
|
Sep 10 2014, 07:09 PM
|
|
|
QUOTE(AMINT @ Sep 10 2014, 03:04 PM) I never believe in both MLTA and MRTA. why? MLTA costs a bomb. MRTA burns when i refinance or sell. I am very active with selling and refinancing. So both BS to me. For my age at least. For older generations, the scenario is different. Amint kor, certain banks impose the MRTA as loan approval condition, to enhance their income and to mitigate their risk. So not everyone can convince the banks, some may but perhaps pricing slightly lousy. But nowadays with stiff competition, some banks are willing to relax their rules. For buyer itself, MLTA / MRTA could be a protection to his / her love ones if any unfortunate events happen to the buyer. Not many so deep pocket like you  |
|
|
|
|
|
Jasoncat
|
Sep 10 2014, 07:23 PM
|
|
|
QUOTE(cfa28 @ Sep 10 2014, 07:12 PM) really depends on how old u are and tenure of MRTA The quote that I got for RM780K Loan 20-yrs = 40K 25 yrs = 60K If RM1.5 mln, easily double right? For 40 years of coverage probably the insured / borrower is young at the age of 30 (normally bank will only lend up to 35 yrs or up to age of 70, whichever comes first - but in this case the 40 yrs coverage seems above the normal term). I don't have the MRTA calculator but RM100k + premium for this scenario doesn't seem logical to me. |
|
|
|
|
|
Jasoncat
|
Sep 13 2014, 05:32 PM
|
|
|
QUOTE(ExpZero @ Sep 13 2014, 05:07 PM) As a sharing with you guys from Great Eastern that our MLTA and MRTA is at a very competitive price and most importantly, we are having a promotional period of up to RM1,200,000 are not required any medical checkup. MRTAAge: 31 Male / Non-smoker Sum Assured: RM1,500,000 Tenure: 30 years Premium term: 1 time Premium: RM55,921 lump sum. Can pls give another simulation for 40 yrs tenure? Thanks. This post has been edited by Jasoncat: Sep 13 2014, 05:34 PM |
|
|
|
|
|
Jasoncat
|
Sep 13 2014, 05:57 PM
|
|
|
Since there are some insurance agents / experts here. Can check with you guys for MRTA, if the basic parameters (gender, age, sum assured, tenure) are the same, bank/insurer A and bank/insurer B may have different premium, right? The diff in premium is due to diff in the actuarial assumptions, correct?
|
|
|
|
|
|
Jasoncat
|
Sep 13 2014, 06:13 PM
|
|
|
QUOTE(ExpZero @ Sep 13 2014, 06:09 PM) Yes, Actuarial assumptions as known as Cost of insurance. As far as I know, the COI for sum assured in every company is not subject to change, only medical card COI is subject to change accordingly to claim experience. So for the same parameters, premium for MRTA may be different for diff insurers? |
|
|
|
|
|
Jasoncat
|
Sep 13 2014, 06:25 PM
|
|
|
QUOTE(ExpZero @ Sep 13 2014, 06:16 PM) Yes, even for all the other plans. Some company do offer Large Sum Assured Discount, Great Eastern is giving 30% for sum assured higher than RM500,000. That's one of the reason you see GE pricing is so competitive. Sum assured discount- it means if I want a policy with RM1M coverage, but with the 30% discount the premium calculation is based on RM700k coverage, though my actual coverage is RM1M? |
|
|
|
|
|
Jasoncat
|
Sep 14 2014, 12:23 AM
|
|
|
QUOTE(ExpZero @ Sep 13 2014, 11:25 PM) Yes, you are right. You can view the Cost Of Insurance in the original quotation. Basically COI and past year investment performance is among the few crucial factors to look at. May I know how long is the waiting period for Hong Leong Assurance? Thanks for the info bro. |
|
|
|
|
Quote
0.0263sec
0.55
7 queries
GZIP Disabled