Hi, I was quoted a RM7K yearly premium for MLTA on a house loan of RM450K. I am 40 years old so I guess the age factor is a major one for the high premium. My question is, can I buy MLTA for a smaller amount, says RM 350K? Or even less? Can I top it up to RM450 later? Thanks in advanced for comments.

Thanks Ong and Onn,
If the 7K yearly premium to be used as an extra payment every month (583.33 per month), my loan will be paid up in ~ 20 years instead of 30.
I think I will go for MRTA for 30 yrs. Cheers guys!