Anyone can explain this?


Attached thumbnail(s)

Aiya buy allianz life...500k ard rm 130-150/mt depends on age....

THANK YOU! As i expected, there you go. Basically, if u need to cover your mortgage in case you mampoi, get MRTA.

MLTA is "hao siao" one (in hokkien).

Aaron bro.... you think properly, next MLTA u buy. hehe.

Btw hor.. my singapore MRTA, is pay by yearly premium hor. not like in malesia, they front load you Twenty years your whole tenure. Wtf.

Lobby LGE make changes to the insolan biz in malesia laa.. very busuk one...

This post has been edited by corleone74: May 26 2018, 01:09 AM

wont buy new one liao lo, coverage is enuf... plus it works basically the way i want for my mlta plan (insurance protection + saving)... for me is forced savings only... as long i can get back my cash value is okay... i never tot of earning anything from it... im still young to only stuck with one property only... so its okay for me... and i also will trade my investment properties eventually...

for those who are older better dont like the guy above said > 40 years olds.... save the cash to enjoy life better.... as mlta premium reli expensive by then...

and u look at all those mlta plans they mentioned above are the costlier ones that i mentioned to u previously... i also wont touch those or even talk about it....

This post has been edited by aaron1717: May 26 2018, 11:17 AM

You will need to look at all your commitments and insurance in totallity. But generally if you're staying there, and you have dependents then you should get MRTA. If it's an investment home, then don't need

I just met up with my Prudential agent today, I think I finally solved this confusion.
Ok, there are a few types:

1.) MRTA- REDUCING sum assured. REDUCING cash surrender Value. Beneficiary is the bank, and have to be terminated everytime I sell my house. Premium lowest and can be incorporated into loan amount.

2.) MLTA (from bank panel) - LEVEL sum assured. REDUCING Cash surrender Value (much higher than MRTA). Beneficiary is also the bank (can have co-beneficiaries for the excess sum assured), and have to be terminated everytime I sell my house. Premium higher than MRTA, maybe extra 50%, and can be incorporated into loan amount.

3.) Investment MLTA (from third-party insurance provider)- LEVEL sum assured. INCREASING cash surrender Value. Beneficiary is the family members, and stays with my even after I sell my house. Premium can be up to 8 times more than the above 2 options, and paid monthly just like a normal insurance.
This also have additional features, or can be added with additional rider just like a normal insurance.

I'm getting houses for investment, but I also need my family to be debt-free in hard circumstances.
Option 1 is definitely the cheapest, but it won't give additional cash.
Option 3 is the best, but the monthly premium can go up to hundreds, and 10x that of option 1 per month.
Which one should I choose?

so far... from my previous huntings... option 2 usually need me to pay more than option 3 though and option 2 only enable lower insured amount somemore haha.... from my case that time... i chose option 3 because its cheaper... lol

Have investment-link and still cheaper than Option 2?
I think I know why. Cause your GE policy only covers you for 35 years right? So you pay premium monthly for 20 years, and then the cash value is used to continue support the remaining 15 years?
The expensive Option 3 that I was quoted, actually covers me for 70+ years. And premium pay only for 30 years, then the cash value can be withdrawn/ used to cover premium for the remaining of the years.

Haha, I hope I got that right

yea... the years there make the difference.... i dont need something to cover me til 70 years old or beyond... lol... by the time i reach 40 years old... i wont buy investment property anymore already... use the money to enjoy life better bro... otherwise have to keep headache about loans and maintenance and stuffs at that age meh... haha...

Yeah, once you add in your MRTA over the length of the loan tenure you wont even feel it.

Best to just get it.

I think MLTA give you extra benefit.
As far as I understand, if we pass away with or without will we will need to get Grant of Probate or Letter of Admin; either way will make the nearest get own property or saving at least 8 months or more.
With MLTA, they can use the left over money (cash value) to initiate this process. Estate planning is another topic but MLTA will ease the nominee (written or not written) in the sense of financially. We buy insurance just for the purpose of accidents so if can afford why not?

Ah, I got it, crystal clear now! #mindblown
Haha, anyway, thanks for the sharing. Really helped me to get a better picture of these insurance
Looks like I'll either go with Option 2 or 3, depending on the cost, and also the cash surrender value by which year (short- and/or long-term).

Can I know what is the name of your GE MLTA ? I'm looking for a new MLTA to replace current one

Can anyone give opinion?

I bought 1st property in 2015 & obtained loan through a loan broker (introduced by REN)

I was noob back then & know nothing about MRTA & MLTA.. I just agreed to his plan for me -

MRTA- 50K for 5 years
& the rest covered by MRTA fr Hong leong assurance for 100k (HLA evergain plus an expensive one + some misleading info from him)

I checked my policy few months back & shocked with the plan I agreed in 2015..it's my fault tho

I wanna terminate my current MLTA as the coverage only ard 30k not 100k as mentioned by the broker

My question is- should I get mrta/ MLTA to replace previous one?

Loan amount around 130k only..I might sell this property within 10 years time..

Please help

This post has been edited by JimmyJimmy: Jun 2 2018, 08:23 AM

Is it reasonable for mrta rm40k for coverage rm580k house? I dont remember it was this high

You can always get minimum MRTA amount to get best interest rate from the end financier, and get MLTA outside.

For your love one, get MLTA instead.

Also, if you plan to stick to ONE house in your whole life ALONE, MRTA is a good choice.

Allow to finance only up to 5% into the loan. can be this high if ur age is not young.

Allow to finance only up to 5% into the loan. can be this high if ur age is not young.

If investment, MRTA I think should be enough cause can get better loan interest and its cheaper compared to MLTA. But I still prefer to get MLTA cause I'm more family oriented.

I am 29, non-smoking female. And will soon be owning my first property with loan slightly below 400k. No dependants (very lucky!).

Am I the only person here who support using term life insurance to cover instead? I don't really like the concept of MRTA, feel like I kena penalised for not dying and staying OK.

How I see it, if it's life insurance, when I pass on, my beneficiary can get the amount insured to do whatever he/she wants - one of the options being pay off the housing loan right away.

Feels like the beneficiary has more options and control rather than let bank control lah.

But I still waiting agents to quote me for comparison. As far as I know, MRTA is the cheapest option in the long run. And since bank is the beneficiary to MRTA, they tend to offer lower interest rates to encourage people taking MRTA. And many people also are misguided thinking MRTA is compulsory, when in reality it's only the most commonly used option.

Still dislike the concept.

As for MLTA hmm. Can anyone explain what's the difference between MLTA vs term life insurance? Why I read left read right macam same thing only one?

This post has been edited by valerie.wen: Sep 14 2019, 12:44 AM