You want more from the bank, the bank also want more from you.

I've send you a quotation from Hong Leong. Please check your mail box.

Anyone who interested to get MLTA or MRTA quotation feel free to pm me too.

Regards,
Onn

Bank do not offer MLTA, it's the insurance company who offer MLTA to you as MLTA=life insurance.

Basically, MLTA can be come under this 3 category. Each have their pros and cons too. It's better for you to get the quotation and compare which is the best for you.

-MLTA with No surrender value (term life product)
-MLTA with Non guarantee surrender value (normally investment link product)
-MLTA with Guaranteed surrender value (non par whole life product)


I'm providing MLTA service from Hong Leong Assurance. I can send you the quotation of all MLTA type as above for you to compare.
No obligation, just pm me your detail such as loan amount, tenure, age and gender.

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Added on February 25, 2011, 6:07 pmYes, you may buy from any agents. No conflict with the govt loan for sure.

So far as i know,i never heard of any MLTA provide by govt yet.

This post has been edited by onnying88: Feb 25 2011, 06:07 PM

MRTA or MLTA is different from fire insurance. Fire insurance is cover the property from accident and is under general insurance while MRTA/MLTA is cover the property owner and it's under Life insurance.

Total loan amount 290k + 350k = RM640k?
Or you mean 290k or 350k only?

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

---

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

Different type of MLTA will have different rate of MLTA, for example

-MLTA with no surrender value = cheapest

-MLTA with non guaranteed surrender value = middle premium range
(normally investment link product)

-MLTA with guaranteed surrender value = highest premium
(Surrender value can be 1 to 1 refund or more then total premium you already paid, and will be stated in policy, regardless of company fund performance.)

So i believe your RM7k quotation should be under group of MLTA with guaranteed surrender value. But do take note that the longer coverage term also will greatly increase the premium.

About your question, of cause you may get RM350k coverage to lower down the premium, but to top up to RM450k later, it will cost even more as your age getting elder.

Make sure you just take what you think is affordable and comfortable with.


Regards,
Onn

This post has been edited by onnying88: Jul 3 2012, 01:23 PM

Actually even if you go for MLTA, you will have surrender value at certain years and you may use the surrender value to do early settlement for the loan. So for sure you can settle the loan earlier then 30 years too if you for for MLTA.

Example.

Age 40, loan amount 450k @ 4.35%

Loan monthly installment = RM2240

MLTA premium = RM7447 per years



Senario 1, put extra RM620/month to loan = total RM2860 /month installment

Loan will shorten to 19.5 years.


Senario 2, put RM620/month to MLTA and pay loan installment RM2240/month (total RM2860 also)

MLTA Surrender value at 25 years = RM208,179 (Guaranteed)
Loan balance at 25 years = RM120,576

So at year 25 i have the option to use the surrender value to do settlement for the loan and i still can get back extra RM87k.



So the pros and cons from above example,

Senario 1,
- loan shorten to 19.5 years.
- no protection for the loan
- or you may add MRTA of RM450k for 30years for RM41k (if finance RM41k into loan = RM200+ per month extra)
- no option to continue the RM450k protection after loan settle or 30 years
- Coverage of MRTA is reducing.
- your premium will burn when no claim

Senario 2
- loan shorten to 25 years with extra cash of RM87k guaranteed
- Get full RM450k level coverage for the loan
- Optional to continue the protection until age 100
- Surrender Value keep on increase then breakeven and overcome your total paid after only 15 years guaranteed
- optional to transfer MLTA to cover others property.


So it just take what is your priority and choose the package most suitable for you.

Regards,
Onn

Hi, i've just email you a MLTA quotation.

Summary from my quotation, @ age 28, male, non-smoker

MLTA type 1 with NO Surrender Value

MLTA coverage type 1, coverage for RM423k and 35 years, Cover Death & TPD

Monthly premium =RM170.26
Yearly premium = RM1945.80


MLTA type 2 with GUARANTEED surrender value, coverage for RM423k until age 100

Monthly premium =RM375.67
Yearly premium = RM4293.45


GUARANTEED
Surrender value at 40years = RM251,968.00 (total paid only RM171,738.00)
Surrender value at 35years = RM213,416.00 (total paid only RM150,270.75)
Surrender value at 30years = RM173,320.00 (total paid only RM128,803.50)
Surrender value at 25years = RM135,478.00 (total paid only RM107,336.25)
Surrender value at 20years = RM100,678.00 (total paid only RM85,869.00)
Surrender value at 14years = RM61,415.00 (total paid only RM60,108.30)

This MLTA will breakeven at 14 years guaranteed. Meaning you already can get back what you paid at 14 yrs guaranteed. More detail can be found in my quotation.

Regards,
Onn
017-6100337

If you are young, just get MLTA, it will cost very little for RM162k coverage.

Pm me your age and loan tenure and i can sent you some MLTA quotation for you to compare.

Regards,
Onn
017-6100337

Senario 1
Nope, either one deceased also can get the compensation. No need both, confirmed.

Senario 2
It's depend on your MRTA coverage amount. Let's say RM300k loan under A and B and A taking MRTA coverage of RM300k, Then A's MRTA is fully covered and B will get the property.

But if A's MRTA coverage is only 50% of the loan (RM150k), Then B will still need to continue to pay the loan as A's MRTA only cover 50% of the loan.

Regards,
Onn

If you want MLTA that come with guaranteed surrender value, i can say HLA is one of the best in market. As you can see in my previous
quotation @ Post #437.

This post has been edited by onnying88: Jul 19 2012, 08:08 PM

Just a question for you, when you already sign the loan agreement mean that you start borrowing money and you will have a 30years+- loan to pay. So if anything bad happened to you after you've sign the loan agreement, do you hope that the property will free from debt and your love one can get the property with nothing to worry?

If answer is yes, then please get it now. If no, then wait until VP.

Regards

MLTA serve the same purpose as MRTA, just the MLTA offer you better coverage and others benefit like level coverage(same coverage whole tenure), cash surrender value and etc. Usually MLTA will cost higher then MRTA but you may get back the money at x years. There are few type of MLTA which i can group it under :-

1) MLTA with no surrender value (Term MLTA)

2) MLTA with non guaranteed surrender value (investment link MLTA)

3) MLTA with Guaranteed surrender value (non-participate term MLTA)

I have promotion on going now (30% cash rebate) for all MLTA apply before end of May. Will pm you a quotation shortly. Feel free to contact me if interested to know more.

Regards,
Onn
017-6100337

Simple quotation, base on above detail

1) MLTA with no surrender value (Term MLTA)

MLTA type 1, coverage RM398k for 38 years.
Monthly premium = RM180.39
Yearly Premium = RM2061.64

Surrender value at 25 years = RM30,841 Guaranteed. Please note that this MLTA surrender value at 38 years = ZERO, will have surrender value before 38years only



2) MLTA with non guaranteed surrender value (investment link MLTA)

MLTA type 2, coverage RM398k for up to 100 years old. You may continue until age 100 or terminate it anytime you wish.

Monthly premium = RM300.00
Yearly Premium = RM3600.00

Non Guaranteed as it's base on fund performance.
Projected Surrender value at 25 years = RM70k - RM148k
Projected Surrender value at 38 years = RM80k - RM280k





3) MLTA with Guaranteed surrender value (non-participate term MLTA)

MLTA type 3, coverage RM398k for up to 100 years old. You may continue until age 100 or terminate it anytime you wish.

Monthly premium = RM353.48
Yearly Premium = RM4039.70

Surrender value is Guaranteed.
Surrender value at 14 years = RM57,786.00 (RM4039.70 x 14years = RM56,555.80 = breakeven at 14years. Mean you will get back your money after 14 years and gain more after 14 years. Guaranteed)
Surrender value at 20 years = RM94,728.00
Surrender value at 25 years = RM127,471.00
Surrender value at 35 years = RM200,803.00
Surrender value at 40 years = RM237,077.00


Feel free to contact me for more detail or discussion. There is promotion of 30% cash rebate for MLTA apply before end of MAY .

Regards,
Onn
017-6100337


This post has been edited by onnying88: May 10 2013, 05:17 PM

Depend on the type of the Mlta, you may click my siggy for more detail.
For mlta type 1, it should be LESS then rm50 per month. Detail quotation can pm you once I'm back Malaysia on Friday.

Regards,
Onn

Quotation base on
Age = 24 (1989)
Male
Loan = RM110k for 30 years

1) MLTA with no surrender value (Term MLTA)

MLTA type 1, coverage RM110k for 30 years.

Monthly premium = not available for below RM50/mth
Yearly Premium = RM336.60



2) MLTA with Guaranteed surrender value (non-participate term MLTA)

MLTA type 2, coverage RM110k for up to 100 years old. You may continue until age 100 or terminate it anytime you wish.

Monthly premium = RM98.75
Yearly Premium = RM1128.60


Surrender value is Guaranteed.
Surrender value at 20 years = RM22,919.00
Surrender value at 25 years = RM30,927.00
Surrender value at 30 years = RM39,805.00
Surrender value at 35 years = RM49,518.00
Surrender value at 40 years = RM59,734.00


Do pm me if you need more detail about the MLTA above.

Regards,
Onn

Please pm me your age, gender, occupation for more accurate MRTA/ MLTA quotation.

You can get each cover 100% of the loan amount, or each cover 50% or each cover any % as you wish or either only one get MRTA only. No restriction on it. The only restriction is your $$$.

Yes you can buy later with cash, but you might paying more as the premium will higher as age go higher.