have to disagree totally with the above article.

u buy MRTA solely as a protection against something happening to you which would jepordise your ability to service your Housing Loan.

this means that a normal person would have or is expected to have other life insurance policies to hedge against something bad that can affect his / her ability to provide for the family.

second, having the assets locked up due to having no will is another totally separate matter. of course pay out from insurance is not affected by having no will as u have nomiated the beneficaciries in your insurance policy.

at end of day, difference between MLTA & MRTA is the former gives higher protection as the coverage is fixed.

MLTA is a good product for those who need and can afford it.

cos its not written by an ethical and honest agent like youtself who does not want to paint an inccurate picture about their products.

for the record, i bought a MLTA policy from onnying88 and he gave me a very good explaination about the pros and cons of both products. highly recommended for those lookimg for a MLTA product.

Honestly if its for Investment, you DO NOT need MRTA or MLTA cos if anything happens to you, your family will not be homeless and can choose to sell of this Unit

Simple Answer is who is paying the premiums.

You directly or Financed by the Bank

If Financed by Bank - Beneficiary is always the Bank

Ask your Agent

If the MLTA its Financed by the Bank - then the Bank is paying and not you

You are merely repaying the Loan, so there is a difference

Refer Onnying88 comment above.

2-Questions,

1) Mind sharing your rate since its now BR + xx% and what is your Loan Amount

2) Excluding some pages from documentation is a serious breach of Banking Guideline and can constitute misspelling or fraud. Are you sure you wanna continue with this person. Ask him to provide all pages to prevent further misunderstanding.

Bro, Have u signed the Offer Letter already? If not here is a suggestion, apply form other Banks to see if Base Rate offers you better

Heard Maybank and Public Bank are amongst the lowest

Haven't signed Offer Letter, still got time to apply

Just need to chase the Loan Lawyer to quickly get things done, my suggestion, just apply, after all - no charges no commitment