if you dont have tight budget and want to have higher protection, go for MLTA. i bought MLTA

MLTA

MRTA.......Mati Rumah Tetap Ada

hi there, good day. I'm Alex Khoo from Great Vision. Im providing MLTA as well. If need the service kindly make an appointment. My office at mid valley

Nowadays bank,loan must have mrta together to get better blr...

Do u guys think we take the least years mrta from bank?
And take mlta from another insurane company?

just kindly share out the information

ML ( mortgage life)

-cash value
when buying ML , will bring benefit to early settlement for your property

- transferable
able to transfer when u going to purchase a new property.

- health lock

- 3D - death,disability,disease
family secure

regards
alex khoo
010-3973637

just to share, banks also offers 5years MRTA if u intend to flip but they will give u best best rates on BLR rebates

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

for ur info, last time im young, i don choose mrta or mlta as to max up my cash flow. that time i got insurance covering also.

Something I got to hear off in regards to MRTA where I think need some confirmation.

Scenario 1:
Property name under 2 names - A & B.
Loan under 2 names, also A & B.
MRTA bought by 2, also A & B.
In the event if A died, does MRTA cover? What I heard is need both A & B to be deceased only MRTA will cover. Someone pls enlighten me how does the coverage work.

Scenario 2:
Property name under 2 names - A & B.
Loan under 2 names, also A & B.
MRTA only by 1, e.g. A.
If A dies, does MRTA fully covers? If B dies, my presumption is MRTA will not kick in. Someone pls enlighten.

i checked with uob and rhb on this. last 2 weeks. scenario 2 not possible.

for scenario 1, MRTA must put both name if loan on both name. premium slightly higher but will cover all if any deceased.

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

beg to differ...

those banks who make it compulsory to buy MRTA, in order to enjoy better rates, are simply trying to earn back their margin from MRTA...some banks doesn't make it compulsory to buy MRTA... in fact, my bank allows MLTA financing... the only bank that allows MLTA financing.... and it is optional...customer decides whether to buy and finance or otherwise. And rates are as competitive as the rest of the offers from other banks...


cheers!

This post has been edited by elchico: Jul 17 2012, 08:12 PM

Mlta is good for short term own stay

To be frank,my bank loan is public,they need us to get the least mrta of 5 years around 1k plus since I'm only late 20s

The say can change to Mlta but the package is not the same as the Mlta that we separate buy....and the Mlta insurance company they offer is ING

The person did advise me to get min mrta and get Mlta outside...

What u guys think?

This mlta thing is same like personal insurance. Since i having a personal insurance plus medical card with prudential, most bank offers me home loan without mrta

Maybe MRTA of 5 years just to qualify for the loan.

MLTA from Public bank eventhough is from ING, the plans will be slightly different from the plans selling by agents.

Good day...

Guys kindly advise, im planning to buy house rm500k property with 2 names.
(me & wife) loan 30years under 1 name (me)

Let say, 10 years later, I died will this insurance cover the remainding house loan balance? in other words will my wife get the house for free after I die ?

Which insurance policy should I buy.

Have you decided and signed the LO? If yes, then no need to say already lor...

If not, i'd recommend you to consider another bank... BLR-2.4% for loan amt >RM200k, tenure 40 yrs, MRTA is not compulsory! I guess unless you are getting a better offer, which would render compulsory MRTA... ermm.. at least there is reason why u are incurring compulsory MRTA lor... But my advise is, if the differential is minimal, why waste ur money on compulsory MRTA.


I also beg to differ....

Assuming all of us are on the same page, that MRTA/MLTA is necessary to insured our loved ones from having to bear our liabilities in the event something unfortunate happens to us, IMHO, MLTA is suitable both for own stay as well as investment. Here is my take...

Own stay - Meaning a house for you to build ur family...You would definitely want to secure it with adequate protection, to avoid having your family evicted, and house lelong, in case something happens to you, and your wife is unable to continue with the liability. Usually, ppl say a man shouldn't transfer liability to their family member, if they can't transfer asset to them - when they leave earth... with guaranteed return and sum assured increasing... there will be excess cash to the beneficiary... In MLTA - your beneficiary gets house plus excess cash. In MRTA - your beneficiary only gets house.

Investment - Meaning you are a property investor.. and this property, more often than not, will not be your first or final property... Over the life of your investing profile, you are bound to buy and sell a couple of properties. What is more beneficial than MLTA, where it is transferable between properties, and it will not be burnt upon sale of properties... very applicable for property investor, who commonly buy and sell properties.



Cheers!

This post has been edited by elchico: Jul 18 2012, 01:25 AM

Which bank are u referring to?if it is good

The bank offer 2.50 2.45 2.4 from 1 year till 3rd year onwards..guess its a good rate...sice the mrta we can choose the least for 5 years with about 1k plus,wouldnt it be advisable to get mlta from outside?


Anyone can recommend good mlta insurance company? GE,ing,pru?