Hi,

Please think before make decision of buying home insurance :-

MRTA : Mortgage Reducing Term Assurance
MLTA : Mortgage Level Term Assurance

1. MLTA = flexi insurance, MRTA = term insurance
2. PROTECTION :
MLTA = protection, savings and/ or guarantee returns (cash value),
MRTA = reducing protection
3. PAYMENT :
MLTA = periodic. Can be paid on monthly, quarterly, half yearly / yearly basis / lump sum finance into housing loan (new)
MRTA = lump sum payment by cash / finance into housing loan
4. MLTA = tax relief up to RM6000 every year, MRTA = no tax relief
5. MLTA = cash return(asset) MRTA = no cash return (expense)
6. TRANSFERABILITY :
MLTA = transferrable & able to upgrade protection value
MRTA = non transferrable (lapse when tend to refinance/ new purchase)*when buying new property/ refinancing, MRTA premium will be higher because of age*
7. MLTA = death/tpd/critical illness + premium waiver,
MRTA = death and tpd only
8. MLTA = level premium, MRTA = higher premium if financed by bank as it is tied to BLR
9. Nomination :
MLTA = Beneficiary can be anyone
MRTA = Beneficiary is bank

If you are tend to investment/ refinancing, MLTA is suitable because you no need to repurchase your home insurance after few years. Any further inquiry, pls dont feel hesitate to email me at hl88@hotmail.my.

Thank you.

Great Eastern

for buying ownstay, MRTA seem more reasonable.

Hi I'm interested in, pls quote me as below:

- Age: 24, Female, DOB 15-10-1988, accounts executive.
- Loan amount : RM 240k (30 yrs)

So if above mention, add 36CI can claim 60% of RM 3k, and also the RM 6000?

i think best to take MLTA, pay extra for protection against 36 critical illnesses at least safer, because nowadays a lot of diseases and better to be safe than sorry. for me i dont want to burden my family with expenses when i go (touch wood) so safest bet take MLTA if can afford. at the end of tenure at least got cash value back even though the money u get back is suppose to worth more due to inflation but better than nothing. also can lower down your loan tenure with the amount in there at least, so I think the pros kinda outweigh the cons for MLTA. what do u guys think?

Pardon my ignorance, as i'm new at this.
I'm just curious pertaining MRTA and MLTA, I've read the thread and found out there are pros and cons for these 2 "assurance".

As mentioned, may i know why is it MRTA is more practical compared to MLTA if you purchase for your own stay?

Is it only because that you have already purchased the medical cards, 36 illlness stuff and because MRTA is a one off payment?

Do help to enlighten and convince me on this?

Thank you.

Assasins is so pro...

MLTA is just a like another life insurance.
MRTA covers TPD as well.

To me, choosing between MRTA or MLTA is very simple.
U have the money to spend, buy MLTA
Else you go for MRTA since it is way cheaper compared with MLTA (finance in the loan, u pay interest, pay by cash u save on the interest)..
or if you think you dont need any protection... dont go for any.

hmmm...
very hard to choose between MLTA and MRTA
MLTA need alot of $$ for each month...
for my case : properties > 460k > loan 414k
if MLTA > each month need pay like RM313
if go for MRTA > sekaligus pay 19k++ (add to the loan each month pay around +80)
I'm 26 years old.. work as software engineer
different 313 vs 80++

My problem is, I'm buying this for own stay.. but then I might maybe after 10 years or 15 years sell this unit(condo) and then get another landed one... if i go for MRTA, i will rugi 18k (not including interest)
I might as well do refinance > If the bank .. let say la.. BLR - 3.5 (currently is 2.4 rite)

or is it i look too positive ? that the bank won't even up till 3.5 ~

any sifu sifu can give some comment ?