MRTA mar... what i read , if single person. got unfortunate then no need pay installment.

but if joined name, two person. one person disabled... how ler?

Depends on the coverage you pay for.

E.g. 1
If loan amount = 100k for 30 years.
Borrower 1 : cover 50% = RM1101
Borrower 2 : cover 50% = RM1101

Either one TPD on first year, you will get 50% of 100k = 50k.
Either one TPD on 15th year, you will get 50% of (principle, e.g. 50k) = RM25k.

E.g. 2
If loan amount = 100k for 30 years.
Borrower 1 : cover 100% = RM2202
Borrower 2 : cover 100% = RM2202

Either one TPD, you will get 100% of 100k = 100k.
Either one TPD on 15th year, you will get 100% of (principle, e.g. 50k) = RM50k.

Estimation only, ok? But once claimed, all your debts will be paid first before any amount of $$ reach your hand (if there's any left).

e.g 2 pay double wor..

if only one person borrow. same 100k 30 years. for 100% coverage.
will it be RM2202 or RM4404?

The premium is an example only.

The difference is coverage, full or half or whatever you wanna choose, 80:20 also can.

If 1 ppl borrow, then buy 1 person, premium RM2202 for 100% coverage. Means if buy yourself, if anything happened to you then your beneficiary can claim. If anything happen to your beneficiary.. erm, too bad.

oh. i can also insured one person only.

This post has been edited by daruma: Mar 18 2009, 04:07 PM

Hi everybody...

I just followed the topics recently. I just want to share something i took for my housing loan. Beside MLTA, there exist another mortgage protection which is call MPRP (Mortgage Protection & Reduction Plan)..
The idea is we have saving, protection and at the same time reduce the tenure of housing loan..
My housing loan for example:

Loan RM220K
Face amount=RM220K (TPD,36CI,Death)
Monthly payment= RM1200
Tenure =32 years..


I took MPRP from this marvellous insurance company,i pay RM300 monthly.In nearly 21st year later, i will get about RM100K plus in my MPRP account and the premium will be taken to settle up the remaining 11 years(32years-21years) housing loan from bank!!!
I think it is a good idea to sacrifice RM300 now and get saving for about RM158,400(RM1,200 x12month x 11 years) later...

If you can manage your money wisely, i think there shouldnt be any reason you won't took MPRP man...

Email me if you're interested:syazwan.tsm@gmail.com

There shouldn't be a problem to share good things with all of u my frenzzz:)

Remember, THE GOOD INVESTMENT IS NOT BUYING A HOUSE;
THE GOOD INVESTMENT IS HOW TO SAVE/REDUCE THE INTEREST RATE OF HOUSING LOAN!!

This post has been edited by skyside: Apr 3 2009, 06:28 PM

Is the 100k plus GUARANTEED?
Why not you just say which insurance company?

If I read that correctly you're saying:
RM300 monthly
20 years i.e. RM300*20*12 = RM72000

And you get back RM100000, so total profit is RM28,000
Now to calculate simple interest wow....you got a 39% profit from your RM72,000 investment

But on second thought, you're getting only 1.9% return per year if you divided it by the 20 years. I'll say it's not worth it as many other form of investment can gives more returns. On the other hand, many other insurance premium is much lower than the RM300 monthly repayment.

So nope....not exactly a good deal.

You mean your are paying RM1200 installment + RM300 for the MPRP = RM1500 per month? I dun think it's good deal if so.
And same question, does your RM100k+ guaranteed?

Thanks for the reply everybody..

Attached herewith the premium table for your review..

The calculation is based on the lowest return according to BNM.

You can see in 20th year, the return is more than RM100K (RM106,124.00)

The return should be more which will definitely lower the loan tenure less than 20 years..

What i want to share is i would sacrifice now (RM300 x 12mth x 20years=RM72,000) rather than survive in the future

paying loan installment (RM158,400(RM1,200 x12month x 11 years))

At least i can save RM86,400 (RM158,400 - RM72,000)

This post has been edited by skyside: Apr 4 2009, 10:52 AM


Attached thumbnail(s)

In scenario 2, it could be just about 54k!!!
Which means
- There is no guaranteed interest at all.
- There is possibility of getting less than what you paid (premium)

your sacrifice RM300 is mean RM1200 loan installment + RM300 for your policy total RM1500 per month?
Or the RM300 already include in the RM1200?

Your not guarantee return after 20years is RM106K, I get another quotation which give me RM214K (not guarateed also) at 20years also. With same amount RM300 per month. With this you may settle your loan in 20years also and also extra cash for you at that time, you get a house and cash. Will that be alot better?

This post has been edited by onnying88: Apr 4 2009, 01:41 PM

Hi everybody,

Well, scenario 1- account value is projected value or in other words returns

after certain years. All quotation must based on Bank Negara Malaysia

5.5%.By right policies should entitled for 6% to 8% in long terms.

This is why the QUOTATION says non-guaranteed.

Secondly, scenario 2- always comes when the country economically

collapse in a sense like sri lanka or indonesia. It is something like third

world country.Currently it is true that we are partially effected with this

economic problem but it is absolutely truth that our country cannot be worst

to that level. Usually and normally, we should follow scenario 1 only.

Anyway, i hope we can help each other conveying good msg pertaining to

MRTA/MLTA/MPRP...

What hav u said is just wrong because MRTA they do have the surrender value , its not totally refundable. Depends on which insurance company u taken from. Lets say u insured ur loan amount and took for 30 years insurance of MRTA , and u settle earlier like wat u said in 10 years, the remaining coverage of 20 years they will calculated the premium and refund back to u. But of coz the amount is not like wat we are expected because its call Mortgage reducing term assurance so the premium will depends on how early u settle the loan and calculated accordingly.

So you're saying Scenario 1 is 5.5%?, but Scenario 2 is less than that?
Are you sure the fund consistently makes 5.5% return every year? Do tell me which fund in Malaysia makes 5.5% return every year. I would really like to invest in it.

Furthermore, Sri Lanka & Indonesia's economy has not collapse yet. (That's another thread for debating)

buying insurance from every insurance companies, same, they have also fund managers manage funds and invest into bond and blue chip stocks. Mostly 80% will invest bond othrs in blue chips. Its depends on the proportion.

For bond return yrly 4-7%, its subject performance. Senario 1 told if the market good, assuming 5.5% , if performance low will be 4% or even 3% yrly. That why, this company (AIA) made it 2 senario and you may estimate how much the return in 20 yrs later.

its give more protection to the valueable customers..Its not the company just wana made money, but also market demand. Each person has own needs for protection..'Chinese always said (Got money scare no plc use') something sound like that...Most rich people need more protection. Who knows one day ..... bla bla..

Hi all!

Need an advise. Let's say I'm refinancing my house after 4 years with another bank. How about the MRTA that I've paid for the loan with my current bank? Will I get some refund on the premium back or I got nothing?

Yup,basically there is some value for the MRTA
Just take your MRTA policy and go to the insurance company to claim the remaining value.

i had sell 50 mlta for my client

mrta and mlta also cover the person in case of any premature death. is it is consider as insurance. but both of them are serve for the purpose of mortgage. u may have ur own life insurance, but it is leave for ur family, or ur beloved one for their living, and maintain of the currently lifestyle when we are out of that picture.