Hi Kanaga... i appreciate your concern ya.
below are some explanation for you to decide ..


Comparison and Features of MRTA/MLTA & Life Insurance Coverage
MRTA
1. Not Transferable
2. Insurability is not Guaranteed
3. No Cash Value
4. Sum Insured decrease every year.
5. Upon any claims (Death/TPD/Accident), processing will take approximately 6 months upto 1 year (estimate) depends on high courts approval based on LA. furious:

Life-MLTA
1. Transferable for new property
2. Insurability is Guaranteed
3. With Savings or Returns (Cash Value)
4. Fixed Sum Insured
5. Upon any claims (Death/TPD/Accident), processing will take approximately 6 months upto 1 year (estimate) depends on high courts approval based on LA.

Life Insurance Coverage
1. Transferable for new property
2. Insurability is Guaranteed
3. With Savings or Returns (Cash Value) + Dividends & Bonus (based on bank interest rate)
4. Flexible Sum Insured ( can increase sum insured to higher value)
5. Upon any claims (Death/TPD/Accident), processing will take approximately 1 month only and no need high courts approval. thumbs:

In case you need any assistance kindly contact Miss.Sangeeta 016-2502911 and she can give you good advice on above matter. she is well experience in both MRTA/MLTA or Insurance coverage process.

cheers...