There is a payable table in your mrta policy for different TPD claim.

If cannot found in policy then you need to call or check with the insurance company already.

I'm just curious how the agent reply to your question.

If you buy MRTA and dump the extra premium, of cause you can decrease your interest and loan tenure. But what do you get in the end and how much total you've paid to achieve the said result? What if there is better or cheaper option to achieve the same result? Will you consider?

Do you aware how much is your MRTA premium cost and what's the monthly premium you need to pay if you finance the MRTA premium into the loan? What's the different of the premium for both MRTA and MLTA and what benefit you can get at the end for each choice? Will you still choose MRTA if there is MLTA plan available with the same cost of MRTA?

Anyway, Maybe you can have a look on my sample quotation to get more detail explanation the pros and cons for MRTA and MLTA.

Sample quotation for MRTA vs MLTA

Case by case, We need to compare the premium for the MRTA and premium for the MLTA to list out the pros and cons for each client profile. Some client i do still advise them to get MRTA too after study their requirement/commitment and etc.

As you can see in some of the quotation that i've did, the client just pay extra Rm50+- per month (compare with you get MRTA, subject to different loan amount and age) and you can enjoy the flexibility of MLTA, extra cash surrender value and level coverage for full tenure already.

Some might told you, you can just take min MRTA coverage to save cost, but please do study the coverage amount of the min MRTA and have some planning on your risk/debt management.

Goodluck

Regards,

This post has been edited by onnying88: Mar 4 2019, 05:38 PM

8.5K MRTA i think it's just cover half of your tenure/loan amount.

Yes, there is many type of MLTA available in the market, basically any life insurance in the market also can be use as MLTA. Just that the agent need to well study the client profile and propose the best available option for client to CHOOSE. Final decision is still on client.