Jan 31 2008, 01:12 PM
QUOTE(areankim @ Jan 30 2008, 04:26 PM)
i get from a blog
1.Mortgage Reducing Term Assurance (MRTA) or Mortgage Decreasing Term Assurance (MDTA)
Main = Protecton (reducing)
Premium = LumpSum
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2.Mortgage Level Term Assurance (MLTA)
Main = Protecton + Saving + Cash Value
Premium = monthly, quarterly,yearly
agree on not to add the MRTA as part of loan.
if MLTA can get back then defiantely MLTA is alot better.
areankim,1.Mortgage Reducing Term Assurance (MRTA) or Mortgage Decreasing Term Assurance (MDTA)
Main = Protecton (reducing)
Premium = LumpSum
-------------------------------------------------------------------------------------
2.Mortgage Level Term Assurance (MLTA)
Main = Protecton + Saving + Cash Value
Premium = monthly, quarterly,yearly
agree on not to add the MRTA as part of loan.
if MLTA can get back then defiantely MLTA is alot better.
Are you buying insurance to insure something, or trying to get money back?
Do you know how much you'll be paying for a level term insurance compared to a reducing term insurance?
And do you know why you really need to have mortgage insurance in the first place?
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