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Financial MRTA vs MLTA vs Term Plus..., whatever they call it
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giasens
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 Mar 2 2008, 10:22 PM
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Recently i was approached by an insurance agent
he recommended me to buy Life Insurance over MRTA,
as Life Insurance able to cover the death + if the mature date reaches, you can withdraw the money + interest to payoff the homeloan.
(fyi, i've already have an lifeinsurance plan)
is this called MLTA?
coz i asked if it is MLTA, he said no if im not mistaken (he's from great eastern btw)
so, it's now like MRTA vs MLTA vs LifeInsurance
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giasens
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May 24 2008, 09:59 PM
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QUOTE(b00n @ Apr 9 2008, 02:02 PM) 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. hi, is your term loan here equivalent to MLTA? |
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