Also give the figure for "Sumbangan Gadai Janji". MRTA compulsory for govt loan, and is inlcuded in the total loan amount.

It gave me this message - "Jumlah pinjaman melebihi had"

Sorry, forgot that max govt loan = 450K

Limited use.

Alamak, no wonder la ..

Hey all sifu here, just want to ask ocbc offer me MLTA and charge me 12k.. Is it one time payment? Cause I read through forum most of the ppl are paying mOnth or yearly.. I just very confuse. Can someone tell me about this things?

All Sifu, if got 36 critical diseases, Mrta or mlta also not claimable?

Mrta-no. Mlta- it depends if the 36 c.i. rider is attached. I hv mrta, personal insurance but i signed up a new & separate critical illness policy bcos I ask myself what will happen to my hse loan IF one morning i wake up & cld not work no income but then not yet 'go'. Who will continue the loan?

Maybe i can offer you the few MLTA option i have with option of monthly payment for you as comparison. Just Pm me your age, gender,loan amount and tenure.

Regards,
Onn

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Added on February 29, 2012, 2:28 amMRTA calculation can be get from the internet easily. Or you may pm me to get one.

As for MLTA, there's too much type of MLTA product so it's hardly to get a universal calculator for all. It's all depend on what you need and get quotation from your needs.

This post has been edited by onnying88: Feb 29 2012, 02:28 AM

It depends on the policy. Usually MRTA doesn't cover 36 CI. Or only provide 36 CI waiver..

Just met a sales person from UOB. Taking loan for 404k. The guy informed that you can purchase minimum MRTA for 50k (5yrs). The premium is RM 167.
This is just to meet the min criteria for home loan application.
Sounds too good for me. Of course, I have myself covered with life insurance with my wife as beneficier, just in case.

What do u guys think?

RM 167 per year? 50k mrta + 5 years only seems hardly cover your loan. If you have > RM 400k coverage + excess to cover family expenses for at least 3 years, then you can consider getting it just to meet the min critiria for taking the loan.

Basically if a person who has a property with MRTA covered and was one of the co-owner of the property with his wife as his beneficiary died in an unfortunate event, does that mean the house is free from debt assuming the house was bought under a bank loan or the beneficiary has to pay partially of the monthly installment? (The house title has both the husband's and the wife's name)

What if the property was a sole owner but wife as beneficiary? (The house title has only his name)

Enlighten me...

I'm looking for MLTA..can someone list down which insurance company offer this MLTA?mostly when I check insurance company website, I cannot see MLTA in their product section

Great eastern

MLTA= mortgage level term assurance, as long as the coverage for life/ci policies is leveled throughout the term, when u use for mortgage coverage, it is called MLTA

Hi all sifu, I just completed sign snp, bank loan and MLTA application. But I haven't pay any money to insuran company for the MLTA application. If I want to choose MRTA instead of MLTA, got any penalty or admin fees will be charge? Note that I get ocbc loan and they offer me MLTA. So ocbc bank got offer MRTA also?

Hi, I am Risk Advisor from Great Eastern, Kindly PM me your gender, age & loan tenure & amount and i will let you know the different between MLTA & MRTA.Good day

Yes, OCBC bank also offer MRTA as well. Normally no penalty will be charge as you haven't pay any things.Even you have paid , you still have 14 days cooling period can cancel the policy and ask for refund.

As Great Eastern is a sister company with OCBC, you will get a special rate for MLTA or MRTA with OCBC loan (terms & condition's apply)

Thank for info. Then I should call bank or direct to great eastern for the change ?

Free from debt if the mrta is covering 100% of the loan amount

You can try to contact your bank officer who assist you on the MLTA application form.But if you also sign a credit card auto debit form together, then you better call to Great Eastern Careline

Customer Service Careline 1-300-1-300-88
Fax (603)42598000
E-mail wecare-my@greateasternlife.com

Hope it help.