Wrong concept.
If got life insurance, go for MLTA.

If you have no dependency, you could also assign your life insurance to insure your property in the event of death....but not advisable.

MLTA is not transferable.
Also, it depends on which type of loan you took.
MRTA is calculated upfront and if you included into your loan agreement; try and imagine how the interest amount hyped up over the years.

Back to type of loans. I'll give mine as an example.
I took flexi loan.
Ok first thing first. The insurance coverage is for "what if" situation. It's meant to paid of your mortgage when you're hit by unfortunate incident mainly death or permanent disability whereby you can't work to pay off your mortgage.

On flexi loan, the principal value of the loan fluctuates but definitely getting lower by years. So why would I insure on the initial high amount up front if I know that I'm going to pay it off in 10 years time while I took 30 years loan? Every year, the amount I owed the bank is getting lower....think of the premium as car insurance. I insure only the amount I owe the bank.

In this above case, I would loose out on MRTA as it's not refundable also. So in the case of early settlement than the initial tenor or refinancing, one definitely loose out. Unless one plans not to refinance and just follow the repayment tenor.

Btw, I do not know about this getting back of money. It might be true if one "pre-paid" the amount. As for my case, I don't pre-pay for insurance or includes it in my loan. I renew yearly based on the amount I owe the bank.

It's assigning your life insurance to your house.
I.e. if anything unfortunate happened, the pay out from your life insurance would go to the property first and the remaining towards your dependent.

MLTA as explained is termed insurance i.e renewal upon term expiry. MRTA is one shot at the time of purchase and non-transferable.

Could be the plan zarth is talking about...

Anyway, to me; I would never assigned my life or accident insurance to my property.
I would rather have it to be awarded to my beneficiaries and let them decides what to do.
I bought term loan with no cash awarded back to me as I do not see the needs for receiving cash at the end of the term. It's a yearly thingy. And I insure the amount I see fit (forecast on how much to pay down on my mortgage for the year) and not necessary up to the loan value. And I do not intend to insure it over the rest of my tenure. That's my own plan.

Traditional MRTA is no longer marketable when financial education and plans are properly educated to consumers. Thus you see that a lot of finance company is actually leaving that as optional when taking up mortgage loans. Obviously besides taking up mortgage loans from insurance companies.

MRTA is marketable during the early years because:
1. Ppl buy properties for own stay, nowadays ppl tend to buy for investment.
2. Ppl stay in the said property for their whole tenure or majority of the tenure, nowadays ppl tend to flip properties when they see fit and according to lifestyles.
3. Lack of refinance packages and competitions so not many ppl switch loans.

Normally I don't think it's refundable on the premium. You can check with the insurance company you're buying though.
Thus for my case, I do not plan to insure for the full tenure. I paid yearly something like when you buy a car than yearly you insure based on the amount you owe. My plan is when my loan amount goes below RM100k, I might not want to buy MLTA anymore.

Also another word of advise. Never include the premium into your loan as the amount might be lesser, but than again if you are tro compound it into a say a 30 years loan.......
Say 5.7% interest per annum.
MRTA - RM800 premium = RM871.55 interest charged = RM1671.55 total paid.
MRTA - RM1550 premium = RM1688.63 interest charged = RM3283.63 total paid.

yeah....Mortgage Loan Term Assurance which I renew yearly. Might have used the wrong word.

What I quoted is based on 30 years.
If based on 11 years like you mentioned, at the interest of 6%...it's RM2137.16 which is still RM587.16 difference.

Calculate using this excel formula PMT(Rate,Nper,Pv,Fv,Type)
Thus yours is PMT(6%/12,11*12,1550) = RM16.07 which is the monthly installment for your MLTA if charged into your financing.
RM16.07*11*12 + RM16.07 = 2137.16

Note:
Rate = interest rate = 6% per annum
Nper = total installment = 12 years
PV = present value = 1550
FV = future value

p/s: ask them how they get their number and you'll know whether or not you talked to the right sales person.

If I read that correctly you're saying:
RM300 monthly
20 years i.e. RM300*20*12 = RM72000

And you get back RM100000, so total profit is RM28,000
Now to calculate simple interest wow....you got a 39% profit from your RM72,000 investment

But on second thought, you're getting only 1.9% return per year if you divided it by the 20 years. I'll say it's not worth it as many other form of investment can gives more returns. On the other hand, many other insurance premium is much lower than the RM300 monthly repayment.

So nope....not exactly a good deal.

You can read back the past discussion we had before your post here.
My MLTA, is without return and I pay down based on what I owe the bank.
In long run, I do not need to pay MLTA when my loan amount owed is below a certain amount as my other emergency funds or insurance can cover it.

If you ask me and if you go into the main section of Finance, Investment & Business House (most insurance thread); you'll know my stance on advocating insurance as a protection vehicle and not for "investment" or savings. That however would be another debate on the appropriate topic.

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.