so another 30 years, u convert to MLTA?

yes bro, definitely. my MLTA already inforce when i bought first house. just have to topup sum covered to cover that 2nd house.

Doesn't need to buy that MRTA in the first place. but since cimb told me to take it or leave it 

so another 30 years, u convert to MLTA?

yes bro, definitely. my MLTA already inforce when i bought first house. just have to topup sum covered to cover that 2nd house.

Doesn't need to buy that MRTA in the first place. but since cimb told me to take it or leave it 

Normally without MRTA the interest rate will be 0.1% higher. So you can calculate which is more worth it.

i know right bro. Too bad I was not so well equipped of knowledge in this earlier, dint nego for even lower rates. I had a friend met with a even worst one, make them take up MLTA, ask them to stop after 3 years, and 4.7% rate, gg lol

There is always an option for refinancing bro. try survey which bank offer better rate, or better package. the banks also like to compete between themselves.

But in most cases, MRTA will be burned in the case of refinance. Im not sure whether we can get some percent of rebate for MRTA if loan settled earlier. does anyone know? 

There is always an option for refinancing bro. try survey which bank offer better rate, or better package. the banks also like to compete between themselves.

But in most cases, MRTA will be burned in the case of refinance. Im not sure whether we can get some percent of rebate for MRTA if loan settled earlier. does anyone know? 

There is always an option for refinancing bro. try survey which bank offer better rate, or better package. the banks also like to compete between themselves.

But in most cases, MRTA will be burned in the case of refinance. Im not sure whether we can get some percent of rebate for MRTA if loan settled earlier. does anyone know? 

All MRTA no matter which insurance company will have surrender value base on the remaining years coverage when u surrender  the MRTA.

it is good then. only afraid when if it is burnt just like that. is it the surrender value being calculated based on prorate?

hi all,

Last time my brother bought a house and insured MRTA, the housing loan repayment is 35 years, and MRTA insured for 20 years.

Now, this year (the 7th year), he plan to fully settle the loan. What can he do with the MRTA?

1. Surrender & get back some cash.
2. Convert the MRTA become life insurance ?
3. Move the MRTA to another housing loan (on another bank) ?
4. Any other ?

Or should he just park the lump sum money in the flexi account (no need to settle the loan) and let the MRTA still running? But doing that he cannot buy another residential property with 90% loan in future.

(currently he owning 2 residential property loan)

if not mistaken... MRTA is burned for sure... i doubt you got any cash can get back.... anyhow MRTA is actually attached to your house rather than your owner name.... so there nothing much to do with it... and let it burn.... thats why for those who are going to chg houses quite fast... MLTA is the way to go... u get back your cash... and the insurance is on your name... not with the housing loan...

Bro, what does it mean by u get back ur cash for mlta? For example say i have a housing loan 35 year term but my mlta is 20 years...so if after 20 years, i never made any claims for the mlta, i get back whatever premium i paid for it?

sometimes i really hate how those banker work, bancassurance is the culprit of this. Near recent i took up a housing loan and my banker jz add in MRTA to my loan agreement without me or my dad's concern (I use both me and my dad's name for the property) Unfortunately when I told my dad, he just feel too hassle to make the banker remake a new loan agreement. Free commission to the banker woohoo!
SO basically i made a 350k housing loan with cimb and i got 'forced' to take up MRTA of about 12.5k (35 yrs) by sunlife (cimb's banca partner). Banker also gave me just a not too low not too high interest rate, 4.45%. And the mrta is to be included in the loan, so in the long run i'm not just paying for 12.5k, but more! But well, i'm too late to do anything, not really too late as I noticed this before signing the loan agreement, but my partner aka my dad is too lazy to make changes, so bo bian lor D:

While i'm 'mourning' for my 'loss' I checked around everything in finance world, and found out actually, why not people reject mlta/mrta and take up term life insurance instead. Yes it will be a little more hassle when come to claim procedure( you need to claim from insurance company and make payment to bank loan on ur own), but it seems from this way it's cheaper and having benefit of both MRTA and MLTA. Why I feel term life is cheaper? Here i will be taking UforLife as an example. By taking a term life insurance, it's almost similar or cheaper than what you paying for MRTA, but, MRTA only settles the remaining loan due, while life insurance will pay u the sum assured you chose, similar to MLTA. For example if in my case, my loan is 350k, i chose 350k Sum Assured from UforLife, when i died, my family gets the lump sum 350k. Plus I can stop the policy from UforLife whenever I feel dont need it. It gives me a flexibility on this.

However, IF you are paying the MRTA in one lump sum, as in you did not include the amount in loan like me, MRTA might still be a good option. After all it's depending on what you want in the end, then you choose which. I hope this will benefit some people in exploring options other than MRTA and MLTA.

ANDDDD Dammm those unethical bankers that slot in products without ur acknowledgement so that they can hit their target in banca RAWRRR!

Bro, what does it mean by u get back ur cash for mlta? For example say i have a housing loan 35 year term but my mlta is 20 years...so if after 20 years, i never made any claims for the mlta, i get back whatever premium i paid for it?

Hi guys. Need your advise whether MRTA does cover for disability?

Lets say someone just bought an under construction house. After few months of progressive payment, the person having an accident and suffered from a permanenet disability. Is there any coverage on this?