MLTA will benefit the buyer in long term compare with MRTA where this only protect the bank from losing money.

Hello Sifu... Need some advise...

Bought at house at 2.2M... The bank offered an MRTA with 175% loading and TPD declined (due to overweight BMI 37, no health issue, age 35)... Need to pay 150K to start the insurance..

I end up needed to look for an alternative MLTA... reach out to GE insurance agent... asked for MLTA but they do not have it and make an offer for 2M life insurance SmartProtec Sure (till age 70, can't convert after)

premium: 1350/month (no loading yay!)
pay for 30 years
get around 300K at the end (not guaranteed... based on investment performance)

Is this the right path to take... or I should go for MLTA.. my intention is for mortgage protection mainly HOWEVER wouldn't mind a good return at age 70 or the ability to convert to normal life insurance later... FYI I have a separate 200K life insurance only on top of this...

i was reading the thread and there is GROUP VS INDIVIDUAL benefit for MLTA vs life insurance... can someone explain more?

My MRTA is financed by bank and the sum insured matches. But when i compare both the schedule provided, really there is a difference tho. In the beginning the sum insured is the same, but over the years, lets say i compare both the 10th year, the sum insured is lesser compared to the loan outstanding.