You mean a MRTA/MLTA?

It is not necessary by law but it's the responsible thing to do. Sometimes the bank would give you batter rate if you take up their MRTA.

If you're getting an MRTA/MLTA make sure it covers the person responsible for servicing the loan instalment.

Best,
Jiansheng

Yes fire insurance is mandatory because the house belongs to the bank therefore you will need to proof that the house is insured for fire insurance at all times otherwise the bank will auto purchase and charge it into your loan.

This is written in your loan offer letter before you sign on it to agree.

If it's a landed property then it will normally insure about 80% of the market value because the other 20% is the value of the land

When fire burn a building, the land don't get burned along. Thus explains your lower sum assured. How we if you feel the amount is under insured compared to the real market value then you can purchase extra on your own

100 monthly each person,

Valid

A plus med is attached in an investment link policy

Whereas the regular is the standalone

You can't if you've bought the investment link

Have to rebuy the policy as standalone

The brochure abit out date the figures inside. Only through the agent you get the exact premium charged

depend whos name is primary