Appreciate if forumers could advise on how could MLTA and MRTA be , details:
Tenure : 26 years
Loan : 350,000
Age: 39
Non smoker

Please pm me quotation for MLTA.

Loan: 350k
Tenure: 40 years
Age: 25

Thanks.

I need some advice on MLTA/ MRTA

Loan: 300k together with sister
Age: 32 & 29
Tenure: 30 years

Plan to rent out the property for now
Maybe sell or refinance in 5 years time.
Also planning on acquiring another property later.

many thanks.

hi all,

Please also disclose your occupation and sex next time when you wanna ask for quotation.

thanks

Hi ALL,


Pls give me a quote for MLTA and MRTA

- Age: 28, Female, born in Nov 1983, currently is Asst Manager in creative industry.
- Coverage: RM502k, house under constructions, completed in early 2014.
- Tenure: 5/10/15 years (i still have yet to decide whether to stay or sell it once i got the key)
- Basic plan (death & TPD)
- I do have own medical card and personal life insurance.
- non-smoker


Thanks.

Pls indicate you're from which Insurance Company.
Feel free to PM or email me for further enquiries.

My email is summermint1983@hotmail.com

Thanks very much.

This post has been edited by ASSASINS: Apr 6 2011, 12:14 PM

Hi,

Please think before make decision of buying home insurance :-

MRTA : Mortgage Reducing Term Assurance
MLTA : Mortgage Level Term Assurance

1. MLTA = flexi insurance, MRTA = term insurance
2. PROTECTION :
MLTA = protection, savings and/ or guarantee returns (cash value),
MRTA = reducing protection
3. PAYMENT :
MLTA = periodic. Can be paid on monthly, quarterly, half yearly / yearly basis / lump sum finance into housing loan (new)
MRTA = lump sum payment by cash / finance into housing loan
4. MLTA = tax relief up to RM6000 every year, MRTA = no tax relief
5. MLTA = cash return(asset) MRTA = no cash return (expense)
6. TRANSFERABILITY :
MLTA = transferrable & able to upgrade protection value
MRTA = non transferrable (lapse when tend to refinance/ new purchase)*when buying new property/ refinancing, MRTA premium will be higher because of age*
7. MLTA = death/tpd/critical illness + premium waiver,
MRTA = death and tpd only
8. MLTA = level premium, MRTA = higher premium if financed by bank as it is tied to BLR
9. Nomination :
MLTA = Beneficiary can be anyone
MRTA = Beneficiary is bank

If you are tend to investment/ refinancing, MLTA is suitable because you no need to repurchase your home insurance after few years. Any further inquiry, pls dont feel hesitate to email me at hl88@hotmail.my.

Thank you.

Great Eastern

Hmm riight...that's what I thot abt level term life too!

The tax relief is combined with KWSP, max RM6000....which means, if your KWSP already RM5000, you have only RM1000 to claim only...
it will quite misleading if you didn't mentioned this...

If your MLTA have 36 illness critical illnesses coverage, then you can declare it at medical expenses column (max rm3000)

This post has been edited by ken.ong: Apr 25 2011, 02:19 PM

I believe below attached is more clear to everyone.

60% of the CI premium can be claim under medical only la bro..

so for whole life insurance and MLTA got any different ?
Thanks.

MLTA is a "name" used for mortgage loan coverage.
The plan used for such protection can be whole life or term or even ILP.
whole life usually covers upto age 85 while you can select your term (15,20,25,30) for term plan.

i see.
just a product name.
ok ok thanks bro.
crystal clear.

It's not possible,i'm also an ocbc agent .If 1time paid off is definitely MRTA.

for buying ownstay, MRTA seem more reasonable.

pls some agent help me quote for MLTA / MRTA / anything that is good.
loan = rm450k (plan to only cover 250k / 300k)
age = 29
tenure = 15 / 20 / 25 / 30 yrs

Agreed. Coz the amount is way too different. Just pay an amount one shoot. But MLTA need to pay from time to time.
If own stay, i believe MRTA really enough as mostly ppl have own lilfe/medical insurance also.

Insurance agent sure hate me
I just voice out my view...no hard feelings

Hi I'm interested in, pls quote me as below:

- Age: 24, Female, DOB 15-10-1988, accounts executive.
- Loan amount : RM 240k (30 yrs)

So if above mention, add 36CI can claim 60% of RM 3k, and also the RM 6000?

Pls be aware that the RM6000 included KWSP as well...if your own KWSP already RM6000, means you can't claim your life insurance anymore..