Financial MRTA vs MLTA vs Term Plus..., whatever they call it
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 Jul 15 2020, 09:34 AM
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#1
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Senior Member
7,350 posts Joined: Aug 2015   
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QUOTE(drbone @ Jul 14 2020, 11:31 PM) So which is better ? It really depends on your need bro. If you just need a cheap option that covers your home loan in case of your death, just go for MRTA. MLTA is like a personal insurance that covers your death and it is usually more expensive. Good thing is that you can name your beneficiary. |
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Jun 10 2021, 08:39 AM
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#2
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Senior Member
7,350 posts Joined: Aug 2015
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QUOTE(kashvinvj @ Jun 9 2021, 03:45 PM) MLTA will benefit the buyer in long term compare with MRTA where this only protect the bank from losing money. MRTA is usually a one off payment while MLTA is a monthly payment which will be more expensive in the long run. |
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Jun 14 2021, 09:50 AM
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#3
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Senior Member
7,350 posts Joined: Aug 2015
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I don't think you will need to cover the entire tenure though, towards the end of the tenure your loan outstanding will be quite less, so it depends on you whether you want to cover full tenure
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