Nov 13 2011, 01:55 PM
QUOTE(prody @ Nov 2 2011, 03:48 PM)
It says there that MLTA is single premium.
I always thought that MLTA is a recurring payment.
Is actually depends on how the agent package the MLTA.I always thought that MLTA is a recurring payment.
It can be either way.
Added on November 13, 2011, 2:15 pm
QUOTE(arian @ Oct 24 2011, 11:03 PM)
need advice.
i refinanced my house from STANCHART to MBANK last year and didnt know that MRTA can be 'refunded' when i buy another MRTA with another insurer.
what is the procedure? the refinance was more than 1 year, maybe 2 years ago,
can i still get the refund from the previous insurer that i took the MRTA?
Thanx in ADVANCE.
Most ppl don't know that's our rights to ask the insurer re-assign the policy to another bank if we're doing refinance.i refinanced my house from STANCHART to MBANK last year and didnt know that MRTA can be 'refunded' when i buy another MRTA with another insurer.
what is the procedure? the refinance was more than 1 year, maybe 2 years ago,
can i still get the refund from the previous insurer that i took the MRTA?
Thanx in ADVANCE.
When puchase MRTA/MLTA from bank, the policy will be fully assigned to the bank. which means bank is own the policy & they'll get the proceed money when anything happened. However, the absolute assign can be revert either the loan is fully paid up or refinance to another bank.
Therefore, we can have another option to re-assign the policy if the remaining sum insured is enough instead of asking for refund.
The benefit is save the money to purchase another MRTA/MLTA with higher premium.
However, when come to the actual practise, some of the bank may not prefer this method.
BTW, i've called UOB & its partner Uni-Asia previously, they actually allowed this arrangment.
But, finally i didn't proceed with refinance.
Just try & you may have surprise
This post has been edited by kenty: Nov 13 2011, 02:15 PM
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