Hi,

Please think before make decision of buying home insurance :-

MRTA : Mortgage Reducing Term Assurance
MLTA : Mortgage Level Term Assurance

1. MLTA = flexi insurance, MRTA = term insurance
2. PROTECTION :
MLTA = protection, savings and/ or guarantee returns (cash value),
MRTA = reducing protection
3. PAYMENT :
MLTA = periodic. Can be paid on monthly, quarterly, half yearly / yearly basis / lump sum finance into housing loan (new)
MRTA = lump sum payment by cash / finance into housing loan
4. MLTA = tax relief up to RM6000 every year, MRTA = no tax relief
5. MLTA = cash return(asset) MRTA = no cash return (expense)
6. TRANSFERABILITY :
MLTA = transferrable & able to upgrade protection value
MRTA = non transferrable (lapse when tend to refinance/ new purchase)*when buying new property/ refinancing, MRTA premium will be higher because of age*
7. MLTA = death/tpd/critical illness + premium waiver,
MRTA = death and tpd only
8. MLTA = level premium, MRTA = higher premium if financed by bank as it is tied to BLR
9. Nomination :
MLTA = Beneficiary can be anyone
MRTA = Beneficiary is bank

If you are tend to investment/ refinancing, MLTA is suitable because you no need to repurchase your home insurance after few years. Any further inquiry, pls dont feel hesitate to email me at hl88@hotmail.my.

Thank you.

Great Eastern

If your MLTA have 36 illness critical illnesses coverage, then you can declare it at medical expenses column (max rm3000)

This post has been edited by ken.ong: Apr 25 2011, 02:19 PM

HLB islamic wth no lock in period. can consider too.