Financial MRTA vs MLTA vs Term Plus..., whatever they call it
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 Mar 29 2010, 06:01 PM
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#1
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Junior Member
469 posts Joined: Jan 2008 From: Cyberjaya  
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Guys,
My Age: 27 Loan: rm437K Loan tenure: 38 years Life Insurance: I dont have any. My plan is i wanted to rent the house for 5 years and I will let it go after that. So what do u think? Should I go for MRTA or MLTA? This post has been edited by izdyharz: Mar 29 2010, 06:01 PM |
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Apr 13 2010, 05:09 PM
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#2
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Junior Member
469 posts Joined: Jan 2008 From: Cyberjaya
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Guys,
I wanna go for MLTA. But, if let say my house still under construction and gonna be complete next year 2010 Jun, should i buy the MLTA now or later when the construction completes? And also, does all the insurance companies that provides the MLTA has their own package means the premium or the cash return are different from 1 company to another or every company is the same? |
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Apr 14 2010, 11:21 AM
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#3
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Junior Member
469 posts Joined: Jan 2008 From: Cyberjaya
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QUOTE(onnying88 @ Apr 14 2010, 10:12 AM) What i will advise my clients usually, Hi Onnying88,You should get the MLTA once you getting your loan, Because MLTA purpose is to cover the loan in case somethings happened to you. So under construction or completed property also the same, as you already own the bank's money. If you are not here anymore when your property is still under construction, who will pay the installment for you later on when your property completed? Yes, different company will have different MLTA package. So premium and cash value also different. Pm me your loan amount, tenure ,gender and D.O.B if you interested to get some quotation from Hong Leong Assurance MLTA product. We have various type of MLTA available to choose.  Goodluck  THanks for the reply! I sent you PM dy. Thanks! |
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Apr 14 2010, 03:22 PM
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#4
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Junior Member
469 posts Joined: Jan 2008 From: Cyberjaya
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Guys, what if after 5 years I wanna stop my MLTA(loan tenure 38 years), will i get all the payments that ive made?
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Apr 14 2010, 04:34 PM
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#5
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Junior Member
469 posts Joined: Jan 2008 From: Cyberjaya
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QUOTE(onnying88 @ Apr 14 2010, 04:19 PM) You wouldn't get back all, only part of it. If you really sure will stop after 5 years, I suggest you just take MLTA for 5 years tenure. Only cost RM786/years for RM437k coverage. Hi thanks for the reply.Anyways i have a situation when i dont have any personal insurance for myself. So im thinking of buying MLTA + medical card. Do u think it is enough? Or should i buy Life insurance as well? |
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