Hi there,

Can someone give me a quote for MLTA and MRTA.
Age: 23
Loan: RM300k
Tenure: 20/25/30/35 years
Basic plan (death & TPD)
Plans with the property: Home stay for say 5-8 years, then sell.

The property is joint-name with my partner who's of the same age. Total for both of us would amount to?

those consultant please do give some 2cents views..

assuming u have 2 person getting a loan. of let say 500k.

would it be advisable to take MLTA for each person at 250k or 500k?

Here guys, found this on the Internet. Maybe reading this can help you have a better understanding. Good luck to all!

http://www.iproperty.com.my/news/2877/Mort...operty-Purchase

question. Can you get the bank loan from "Bank A" but get MRTA from "Bank B" or straight from an Insurance company?

Hi Guys, I have one question.
Anybody knows using Government loan can apply for MLTA instead of MRTA?

Hi,

1. If I get a housing loan from say, Maybank, can I buy MLTA from AIA/ING?
2. If my loan tenure is 15 years, can I buy MLTA for 30 years?

I have a question. Following the example given on the first post,

"MRTA scenario
So if he purchase RM100k for 30 years MRTA the premium will be RM2165 and the surrender value from time to time is less and less. So, if anything happen to Ken at 5th year, the benefit he get from insurance com will be RM95299 while 10th year will be RM87319. So at the end, the value will be zero at 30th year."

Question: What if at 5th year, Ken's loan balance is only 50k (i.e. he is paying his loan faster than scheduled), will he still get the RM95299 or RM50k?

If Ken passed away, the bank will get (assume he assigned to the bank)  RM 95299- RM 50k (outstanding loan). The extra can be claim by family member follow the rules and regulation in malaysia in claiming the estate and this fund will be subjected to creditor's claim.

---

Added on August 11, 2011, 2:26 pmSecond question, following the same scenario.

"MRTA scenario
So if he purchase RM100k for 30 years MRTA the premium will be RM2165 and the surrender value from time to time is less and less. So, if anything happen to Ken at 5th year, the benefit he get from insurance com will be RM95299 while 10th year will be RM87319. So at the end, the value will be zero at 30th year."

Let's say Ken has a wife (Chun Li), both their names under the same loan, both bought the same MRTA.
(1) What if Ken die/TPD first and few years later Chun Li die too. Would the nominee get 2 round of payment from insurance company?
Assume both Ken and Chun Li get RM 100k MRTA, when Ken die/tpd, the loan will be fully repaid using the MRTA. At that moment, Chun Li MRTA might be cease with cash value refund or she can continue to use the MRTA on other property (depends on MRTA T&C, most of the MRTA will ceased upon fully loan repayment). If Chun Li MRTA is still inforced, then the nominee will get the compensation.

(2) What if they die/TPD together at the same time? Would it make a difference?
The extra can be claim by family member follow the rules and regulation in malaysia in claiming the estate and this fund will be subjected to creditor's claim.

Thanks in advance...

hi there...between full coverage n half coverage which one is better?...

full coverage@ rm 326700

5 yr  premium-4318    inst  RM 1461
10                6525                1470
15                9108                1482
20              12443              1496

half coverage@ rm 163350

5 yr  premium - 2217  inst  RM 1452
10                  3355              1457
15                  4693              1462
20                  6425              1470
25                  8703              1480
30                  11734              1493

need advice.

i refinanced my house from STANCHART to MBANK last year and didnt know that MRTA can be 'refunded' when i buy another MRTA with another insurer. 

what is the procedure?  the refinance was more than 1 year, maybe 2 years ago,

can i still get the refund from the previous insurer that i took the MRTA?

Thanx in ADVANCE.

i took from stanchart and if im not mistaken, its from an insurance company. i'll have to dig in to find out my old docs.

ps..thanx for all of u all who replied. VERY HELPFUL indeed.

hi,

Just want to clarified, between mrta and mlta;

In the example shown;

MRTA (Single Premium): RM 18176.10 (Assuming that this is not financed)- Even if you finance for 30 years you will pay total of
RM 32040(with 4.2% interest)
MLTA (Annual Premium): RM 5276.10 (About RM460 monthly)- In 30 years, you'll pay RM5276.10 x 30 = RM 158,283.00

Please correct me if I'm wrong, i just want to have a clearer picture of the example, and one more question, how much am I going to get back for MLTA?

But frankly speaking 158k for insurance, i really cant imagine........................

Hi all,

I was offered on following house loan by HSBC:

Loan amount= rm333k
Age= 30
tenure= 35 years
Property=completed

The loan officer introduces "Takaful Mortgage Protector". Is it a MRTA plan??

hi all,

need some advice here...

currently i own an insurance + CI with coverage at about 450k...
so, do u think i need to buy mrta or mlta for 300+k loan?

as i bought the house with my spouse, im thinking to buy mrta/mlta under her name instead...

**dilemma**

can i conclude that mrta is cheaper than mlta bcos less coverage/benefit?

All Sifu, if got 36 critical diseases, Mrta or mlta also not claimable?