Would like to know are there any difference in between GMTA and MRTA? Some expert please enlight what are the diference please...

There is no GMTA - its just another name CIMB used [Sun Life]

The policy will pay the reducing sum assured as per reducing sum assured schedule in the event of your death or Total Permanent Disability (TPD).

its either MRTA - Reducing or MLTA - Fix term

MRTA - No cash value, cheaper.
MLTA - have cash value, expensive.

http://www.cimbbank.com.my/index.php?ch=cb...7&tpt=cimb_bank

Boss.... there is another one...... MITA.... do check with Hong Leong Assurance....

MITA is totally sucker to me ...

MRTA - Reduce protection amount yearyl, premium reduce yearly.
MLTA - Same amount yearly, premium same yearly.
MITA - Increase amount yearly, premium increase yearly.

Why the hell you want to increase your coverage amount yearly ? money got nothing better to do ?

1) MRTA
The ING Mortgage Reducing Term Assurance (MRTA) is a policy that pays
off the outstanding principal loan in the unfortunate event of death
or total permanent disability. The policy would protect your family
from the burden of repaying your loan should something happen to you.
the benefits of MRTA, it cover for death n total permanent disability
only.

2) MLTA
The ING Mortgage Life Term Assurance (MLTA) is a policy that pay off
the outstanding principle loan in the unfortunate event of death or
total permanent disability. It also will reduce the your housing loan
tenure, let say your housing loan tenure is around 30 years and with
MLTA it's will reduce your tenure around 8 years and your loan tenure
would be around 22 years only and you also can refund that balance of
8 years. The benefit of MLTA is, it cover for death, total permanent
disability and can refund.

3) MITA
The ING Mortgage Increasing Term Assurance is a policy that pay off
the outstanding principle loan in the unfortunate event of death or
total permanent disability. It also cover for Critical Illness
(critical illness that listed by ING) and It also will reduce the your
housing loan tenure, let say your housing loan tenure is around 30
years and with MITA it's will reduce your tenure around 18 years and
your loan tenure would be around 12 years only and you also can refund
that balance of 12 years. The benefits of MITA is, it cover for death,
total permanent disability, critical illness and also can refund.

Boss.... my understanding of MITA not like tat leh..... I=Investment woh...... U may check Hong Leong Assurance to understand more....

financial people will sure love you ...

how do you reduce your 30 yrs loan by 18 years if you don't put in more and more money ?

if MLTA is reducing 30yrs by 8 years because you pay same amount yearly ... to reduce to 18 years means you need to pay more right ?

dont have such big frog jumping on the street

MRTA
Premium Type: One Lump sum, usually will finance into loan
Protection Type: Will be reducing over the years, usually no 36 Critical Illness coverage.

MLTA
Premium Type: Payable every year, usually will pay via own channel.
Protection Type: Will be remain same over the years, optional 36 Critical Illness coverage.

If you are only purchasing one property and you don't foresee you will purchase another property in the next 10 years or you don't foresee you to move your house until the end of your loan tenure, you may opt to MRTA. If not, it's recommended to get MLTA because one MLTA may cover multiple properties since your outstanding amount is reducing over the years while you paying off the loan. Whereas, most of the time, MRTA is attached to the property and while you are selling off your property, the MRTA will be surrender.

I never deny there will be higher price for higher value things...
But hav u listen to Hong Leong Assurance MITA before??... Did i mention to reduce 18yr??.... Dont start condemning or making blind assumption when u hav not fully understand....
I did not say its good or its bad.... I only highlight there is another option.... And it is different MITA as u explained...

This post has been edited by AppreciativeMan: Oct 2 2014, 04:23 PM

the explanation is from their site ... 18 years is from their site ... everything is from their site ... i am just reading their site ... OMG !! the link is given, go click it ... i just copy the section out since i know people dunno how to click ... didnt know, read also don't want to do (actually i know people don't even read ).

i am just slightly faster in reading sales crap than other people.

So GMTA is MRTA or MLTA?
CIMB called it GMTA and we can choose either MRTA or MLTA right? but
why not they just call it direct MRTA or MLTA straight? why need to come out with GMTA to confuse ppl?
like HL call it MITA, so many term.....

hey dude.... as far as i understand, they didnt put up this product explanation in their website.... so what are u reading?

according to the site description, it is one of either MRTA or MLTA

they need a different name to differentiate them self ... its marketing stuff.

All soft drink is basically sugar water (99%) + Gas (Co2) and coloring & flavoring. Coke and Pepsi don't need to fight until dead to sell you sugar water ... but they do that.

btw ... when the word "group" is used, usually premium is much lower since many people is sharing one claim limit. like your company group medical, usually it involve an amount let say 1 million and all your 100+ staff share this total limit as oppose to each person get 1 million coverage. if the 1 million finish claim by anyone in the group then the entire policy lapse for everyone.

you MAY want to confirm the above if you really go for this "Group" mortgage term assurance ...

Cant blame your google skill ... its OK go buy MITA ... its different ... wall its yours to bang ... not mine

U got understaning prob??....
I clearly stated its I=Investment...... Its "Mortgage Investment Term Assurance" from Hong Leong Assurance....

i borrow home loan with CIMB, can i do surrender MRTA from Sunlife?

Nope because you have absolute assign the MRTA to the bank. The MRTA is not "owned" by you anymore, the owner of policy is now CIMB.

in this case, those MRTA, CLTA which has been assigned to the bank, has a surrender value, how do we surrender that then???

You can't surrender the policy until the policy is assigned back to you when you fully settled the loan. This is the reason life insurance have better flexibility comparing to MLTA/CLTA because in life insurance, you own the policy instead of the bank.

Even with I=Investment, the crux of the matter is the same. You put money, you get insured and they can tell you this is Investment rather than insurance coz they take the money to invest with some high performance unit trust.

To me, the only difference is to check the unit trust fund they say they will invest your money in, check the performance over the years, but this does not guarantee future performance.

i bought a so called MLTA from HLA, their performance is sux, but i stick to it coz i take it as an insurance rather than any mumbo jumbo Investment.

The main principle of any insurance company is very simple and straightforward. protect myself then protect customer.

if you surrender the MRTA, you'll get back maybe 10% of your cash from Sunlife.

Better get a MLTA instead.

Anyone wanna buy insurance from me