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> MRTA buy or no need buy ?!, As title...

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TSIrresistible
post May 23 2018, 08:22 AM, updated 6y ago

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As title, if interest rate is the same or minor difference, should we buy MRTA?

What's ur view and why ?
Then, buy how many years is,appropriate?

This post has been edited by Irresistible: May 23 2018, 08:56 AM
gonzalo20
post May 23 2018, 08:27 AM

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better buy. once u dead, the house loan considered settle.
COOLPINK
post May 23 2018, 08:31 AM

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always, always, always buy MRTA.
iq_myst
post May 23 2018, 08:35 AM

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what's the advantage of not buying? how much can save?
mia2007
post May 23 2018, 08:39 AM

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i ada join satu group insurans great eastern where as the leader taught us that the MRTA is better..
they also told us that the insurans you bought like life insurans can be attach to be use in housing loan.
i have no idea what does she mean because i did not ask further on this.
any pro here mind to share your opinion on this?
Invince_Z
post May 23 2018, 08:40 AM

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i bought mltt. 2k annually cover 400k.
haturaya
post May 23 2018, 08:42 AM

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QUOTE(Irresistible @ May 23 2018, 08:22 AM)
As title, if interest rate is the same or minor difference, should we buy MRTA?

What's ur view and why ?
*
Better buy, property loan - long term commitment. Nobody can predict future. You'll never know... sweat.gif
COOLPINK
post May 23 2018, 08:43 AM

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QUOTE(mia2007 @ May 23 2018, 08:39 AM)
i ada join satu group insurans great eastern where as the leader taught us that the MRTA is better..
they also told us that the insurans you bought like life insurans can be attach to be use in housing loan.
i have no idea what does she mean because i did not ask further on this.
any pro here mind to share your opinion on this?
*
MRTA insurance will pay off your housing loan in the event of death.
it is a one off payment and it is very cheap considering the coverage you are getting.
Enzam
post May 23 2018, 08:46 AM

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faiz293
post May 23 2018, 08:55 AM

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MLTA:
-More expensive than MRTT
-If you have extra money to pay monthly
-If no die, you will have extra money, it acts as insurance+saving
-If you sell house, no need to buy new MRTA, you can transfer it to the new house
-If you die, your house will be fully paid + chance to have extra cash to give to your next of kin

MRTT:
-If you cukup2 makan after pay monthly for house
-Decreasing value, if no die, you will only get the house, no extra money
-Attached to 1 house, if buy another house, need to buy another MRTT
-If you die, house fully paid, but no extra cash for your next of kin

I'm not sure if the interest rate should be taken into consideration here
Expert, please correct me if I'm wrong

This post has been edited by faiz293: May 23 2018, 10:43 AM
WaCKy-Angel
post May 23 2018, 08:56 AM

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QUOTE(gonzalo20 @ May 23 2018, 08:27 AM)
better buy. once u dead, the house loan considered settle.
*
QUOTE(COOLPINK @ May 23 2018, 08:43 AM)
MRTA insurance will pay off your housing loan in the event of death.
it is a one off payment and it is very cheap considering the coverage you are getting.
*
However, if the property is under more than 1 owner then you have to buy separately otherwise 1 party died also u cant get money
nexona88
post May 23 2018, 08:57 AM

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Just buy..
We cannot predict the future leh 🙏
MrBlackie33
post May 23 2018, 08:58 AM

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QUOTE(faiz293 @ May 23 2018, 08:55 AM)
MRTA:
-More expensive than MRTT
-If you have extra money to pay monthly
-If no die, you will have extra money, it acts as insurance+saving
-If you sell house, no need to buy new MRTA, you can transfer it to the new house
-If you die, your house will be fully paid + chance to have extra cash to give to your next of kin

MRTT:
-If you cukup2 makan after pay monthly for house
-Decreasing value, if no die, you will only get the house, no extra money
-Attached to 1 house, if buy another house, need to buy another MRTT
-If you die, house fully paid, but no extra cash for your next of kin

I'm not sure if the interest rate should be taken into consideration here
Expert, please correct me if I'm wrong
*
I thought MRTA and MRTT is the same thing? Or u r talking about MLTA for the first one?
gonzalo20
post May 23 2018, 09:06 AM

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QUOTE(WaCKy-Angel @ May 23 2018, 08:56 AM)
However, if the property is under more than 1 owner then you have to buy separately otherwise 1 party died also u cant get money
*
who is the other party? if your wife, better u buy. If u died, atleast half of the debt already settled. She only need to work to pay for it own half.
gonzalo20
post May 23 2018, 09:14 AM

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QUOTE(MrBlackie33 @ May 23 2018, 08:58 AM)
I thought MRTA and MRTT is the same thing? Or u r talking about MLTA for the first one?
*
I think the top one is MLTA too
BEANCOUNTER
post May 23 2018, 10:08 AM

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it depends on yr financial and plan for the immediate future of 10 yrs ahead and whether you are sole bread winner or not.

bear in mind also if you dun have MRTA some banks may only can offer you higher loan interest rate.

jian5481
post May 23 2018, 10:10 AM

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QUOTE(mia2007 @ May 23 2018, 08:39 AM)
i ada join satu group insurans great eastern where as the leader taught us that the MRTA is better..
they also told us that the insurans you bought like life insurans can be attach to be use in housing loan.
i have no idea what does she mean because i did not ask further on this.
any pro here mind to share your opinion on this?
*
Few people told me this as well.

Not sure if it's the same, but put it this way:

35 years loan with MRTA, monthly repayment RM3100
35 years loan without MRTA, monthly repayment RM3000

If you don't take MRTA, you can increase your life insurance coverage by adding RM100 per month on top of what you are already paying. Not sure how much additional sum insured the extra RM100 per month can provide though.
faiz293
post May 23 2018, 10:43 AM

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QUOTE(MrBlackie33 @ May 23 2018, 08:58 AM)
I thought MRTA and MRTT is the same thing? Or u r talking about MLTA for the first one?
*
MLTA bro, thanks! Fixed my post
Edward_Ng
post May 23 2018, 11:44 AM

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sincce this thread talk about MRTA is it possible for us to mix between MRTA and MLTA?

For example,

i plan to purchase a Property worth 1mil
i have life insurance of RM600k
so i just talk to bank said i will only buy MRTA for 400k.

is it possible?

This post has been edited by Edward_Ng: May 23 2018, 11:45 AM
boyslikeboys
post May 23 2018, 12:10 PM

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Parking.

I have heard life insurance is better than mrta / mlta. Please share opinions.

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