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

better buy. once u dead, the house loan considered settle.

always, always, always buy MRTA.

what's the advantage of not buying? how much can save?

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?

i bought mltt. 2k annually cover 400k.

Better buy, property loan - long term commitment. Nobody can predict future. You'll never know...

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.

Mati
Rumah
Tetap
Ada

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

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

Just buy..
We cannot predict the future leh 🙏

I thought MRTA and MRTT is the same thing? Or u r talking about MLTA for the first one?

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.

I think the top one is MLTA too

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.

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.

MLTA bro, thanks! Fixed my post

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

Parking.

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

When you have a property or without a property, it is not the main concern for me to get MRTA or life insurance.

The main concern should be, when you pass away or when you are bed ridden (unlikely but possible), is do you have dependant?

Let me give you an example, you're single, parents do not need your money.

1. If you don't have property, and you're bedridden or dead. What happens? Nothing. Your money most probably will be transferred around to family members but no one needs it as you have no dependant.
2. If you have property, and you're bedridden. What happens? Worst case scenario sell your property and change to cash. But again as well, no one needs it as you have no dependant except yourself.
3. If you have property, and you're dead. What happens? Nothing. Your money / property most probably will be transferred around to family members but no one needs it as you have no dependant.

4. If you don't have or have property and you have dependent. THIS IS WHEN YOU NEED LIFE INSURANCE.

Currently, I only have basic medical insurance to lock in illnesses (to prevent exemption) and no life insurance because I do not have dependent.

Anyway, I always value life insurance over MRTA as MRTA only is servicable only to the house and not lumpsum cash which you can use elsewhere.
Something like below is possible where your MRTA will not cover fully your remaining loan amount.

Very informative, having said that if in future i might have a dependant, then i should buy MRTA

always buy, don't listen to those insurance agent ask you to buy insurance to cover.

In some way, MLTA is similar to term life?

Hmm.. Then your case would be similar as mine.
So now you don't have dependant. I would not buy MRTA or life insurance.

When you are married or have kids etc that adds dependant under you, you can buy life insurance then.

My policy is buy insurance when needed as needed. You don't buy travel insurance when you're not travelling right?

This post has been edited by LaiN87: May 23 2018, 12:55 PM

is life insurance way more expensive than MRTA??

If your sole intention is getting insurance to pay off your housing loan in the event of you no longer here (to safe your family from inheriting your debt). Then MRTA is sufficient, as it does just that without anything extras.

MLTA is just another way of marketing life insurance as it does exactly the same thing.

Bear in mind, most banks DO NOT even recognize MLTA. They will only give you an option of getting MRTA from them so that you can get your loan at lower rate or they will offer you the loan at higher rate without MRTA.

if your property are meant for investment, get the term which you think is sufficient
if your property are meant for long term stay, then get full term
don't try to skip or putting interest rate as the turn down factor
i had the experience with my cousin where he passed away due to cancer and his house MRTA insurance just about to expire in 1 months time, my sweat nearly turn cold hearing it from his spouse

but you can always buy new mrta/mlta insurance when it near expiration?

my medical/life insurance got MRTA. but i forgot, and i bought another one for property, wasted
but buying MRTA , the bank tends to offer lower interest rate, can compare the calculation and see worth or not.
Also if possible, pay lump sum for the MRTA, bringing it to the loan will cost x2 the price

for investment... buy MLTA... for own stay can buy MRTA... but i suggest to buy MLTA... force saving for u... after the MLTA expired... u can take out the money to use as education funds for ur kids... if u dun need the money to pay off your remaining housing loan by then la... the younger u buy the cheaper the premium is...

Why investment buy mrta since mrta is much cheaper than mlta?

MLTA after expired get take back money? i tot after expired then nothing can get. only if u death or u total permanent disability only can get back the money. am i right?

MRTA beneficiary is the bank and non-transferable.
Let say you pay 20 years coverage premium for your property but you sell it off in 5 years time. The balance of 15 years coverage premium will burn.

MLTA beneficiary can be anyone and transferable. You can nominate your family member as beneficiary. It can be transferred from prop A to prop B. However it’s more expensive than to MRTA.

I have different opinion, I will opt MLTA for investment property.

This post has been edited by jcts: May 23 2018, 10:45 PM

Mlta is beta if die die must buy

mlta follow you.... mrta follow your prop... prop sell mrta ciao... if u are going to buy and sell prop for few times over your whole life... mlta better... money can get back...

mlta like saving plan + life insurance... some mlta plan only need u to pay 20 years... then covered you for whole life using the cash value u have in the account... after 20 years u can choose to take out your cash + interest or just let it continue run til end of the day... either way.... some mlta have to pay til 70 years old... u can take out the interest income or bonus for own use though after 30 years like that... compare more companies package... there are alot of mlta products... choose one that suits u....

This post has been edited by aaron1717: May 24 2018, 09:07 AM

May I know how does life insurance have MRTA?
Does it mean that the life insurance have enough money to cover for the house value in case of TPD/death, or does your life insurance have another extension that cover specifically for a house?



I was quoted by RHB for MLTT(takaful) and CIMB for MLTA. In both instances, the cash surrender value (money to take out if you sell the house/cancel plan) will actually decrease by years. Towards the end of the insurance plan eg 20 years, the CSV will become RM0.
Are you saying that there are MLTA plans out there which works like a life insurance, which has a CSV that keeps on increasing with interest somemore? Care to share which insurance company is that, so that I could ask my bank to quote me those, hahaha

but you can't predict when you are going to die and insurance isn't just like buying stuff at 7-11. it requires time processing and requirement check
imagine you are half dead lying on the hospital bed, do you think any of the people around you would dare to ask you about getting life insurance or cross check your current insurance?
its like cursing you to die ....if you are open minded enough then fine but how many of us is.....
so early pre-caution is more important than last minute planning

i think you can get one from Great Eastern... they have different package cater to your needs... one that maintain your cash value... slightly decrease your cash value pun ada... anyway its better than let ur money burned in insurance once u sold your hse.... MLTA most of the time work like life insurance... just some have a limit to how long u need to pay and when u can cash it out while life insurance usually need to pay til u are 70 or around there.... even those with interest... bear in mind... its even lower than your FD rate... lol... the main point is get back your cash value....

Yea exactly, that's why I'm thinking it's not a good idea to get MRTA, since it'll be gone once I sell off my house.
But yea, now I need to look for the MLTA which has CSV upon expiration.
Thanks for the recommendation.
Btw, do you think life insurance or MLTA, would be a better choice?

seriously dunno how these terms are marketed in msia.

let's be clear, from the name itself

MRTA - reducing term. Meaning as the term progresses, the insured payout amount is reducing . this is the cheapest as the payout reduces, as your principal amount over the tenor also reduces.

MLTA - LEVEL term. Level means the payout is level (same) throughout the tenor. It is a term insurance, no cashback. However, as your principal amount decreases as your make your home repayments, if you die halfway through, the payout is higher than your principal, so your beneficiary may get some cash out when the house is liquidated.

Those who say MLTA got cash back if you terminate, it's actually the most ex in premium, and it has a SURRENDER VALUE. So not sure why taiko like manugigs / aaron say it's the best... ?

This is my understanding, in simple terms. Dunno how GE twist and turn. I have an old policy that was bought aeons ago when i graduated, agent told me it's endowment but after many years i went back to GE to check, it's actually a life policy only (no investment component). So sometimes a lot of agent they don't even know or communicated wrongly or something.

Fyi my MRTA in singapore, need not be terminated when i sell the property. It follows the person insured. For my props in msia i didn't bother with mrta or whatever. That's why i didn't go with kiasu bank like public bank for my loan.

This post has been edited by corleone74: May 25 2018, 07:05 AM

that's why u confused. as i know whether is MRTA or MLTA, the surrender value (cash u get back when you terminate) is decreasing. the amount covered by MRTA will be decreasing but the amount covered by MLTA will be constant. after the MRTA and MLTA expired, there will be nothing u get. Am i correct? thanks

im not too sure bout it , realised it till i bought MRTA thru house loan.
When i bought my medical insurance, the agent told me that this includes MRTA so that when u buy house in future, no need to buy MRTA

Life Insurance can be treated as MLTA.

When signing MLTA or MRTA make sure the term is equivalent to the years of loan you are serving, example of if you loan for 30 yrs, make sure the MRTA/MLTA is 30 yrs also.

Life insurance, ML and MRTA are almost the same just that
MLTA and life can get money back once matured. How much is depending on the investment return or cash value.

MRTA is for those tight on budget and it is always better to get MLTA or life insurance cause MRTA will reduce gradually.
If the interest rise like recently, MRTA may not able to cover all your loan.

Life insurance can do conditional assignment (CA) to the bank (depending if the bank accept this, mostly they no longer want it cause they want us to buy MR/MLTA)

You can buy an extra of life insurance for this purpose without doing the CA. The benefit of life is upon death it is trusted, means whoever the nominee you wrote on, only the nominee will get the money within weeks and your debtor cannot get it first unlike our EPF, FD etc.

And if without will, our EPF, FD etc will get to your nearest earliest by 1~2 yrs, depending on how much you left for them.

So whether yes or no, make sure you get MLTA/MRTA or a life insurance to cover your debt else your nearest will get all the problems

the MRTA your agent meant is your death benefit/ total permanent disability.
say today you buy a house and loan to bank 500k and your death benefit/ TPD is assured at 100k only, it is not enough.
Please goto read your policy once again, when we pass away our nearest is the one suffer the most.

depends on yourself this one... lol... my MLTA just forced saving for myself only... i dont want to wait until the day i almost die only can use my cash... when i'm old i make sure i have extra savings other than EPF... since my MLTA only need to pay for 20 years aje...

one thing u have to see.... the new MLTA GE offered works like saving plan as well.. once your tenure matured... you can withdraw it out just like your other low risk investments or saving plans.... thats why i mentioned its not a straight forward life insurance only... and the sum that you get is not surrender value... no need to listen to the agent turn and twist... i'm sure normal educated ppl can understand it from the policy as well before you sign though...

but i do understand that MLTA that u had before.... its the old MLTA product offered in the market... expensive premium and works like life insurance only... i kena before when i bought one AIA MLTA... 500 per month can only cover 600k premium and cash back super less... whereas GE new MLTA product requires only rm400 per mth cover 1m premium + getting your cash value back like saving plan....

If given the choice, I feel not necessary to buy MRTA or MLTA when purchasing a property. Banks sometimes don't give you a choice when you take a loan and I can understand why....MRTA is to protect the bank's interest not yours. The premium is quite hefty and the premium spent could be utlised for better purposes.

nowadays for GE you can either get the pay 20 yrs and insured for 30 yrs or smart legacy that can insured till age 99 or surrender

alright man, thanks for the input, will check it out

yea correct... but the smart legacy i din buy... haha... my next generation should survive by themselves after i die... lol

As I understand, the traditional MRTA and MLTA, there is no surrender value, so you get nothing, yes you are correct. Just like "term life". The ones with surrender value is called "life insurance, (with surrender value)".

My point is, as the insurer itself at the HQ, to explain in detail to you. What happen at which year which year if you die. What happen at the end of the tenor. according to our lyn kaki here aaron, seems like new product has surrender value.

This post has been edited by corleone74: May 24 2018, 07:53 PM

the old MRTA and MLTA (i can say, "my time" ) is term insurance with payout in reducing or level payout. And I know the MLTA no need one. Cos if i want a surrender value i just buy a traditional life insurance or endowment.

Anyway, If the new product is MLTA with surrender value then good la. But i reserve my judgement until one day i actually see the product and read the T&C. But somehow it still doesn't make sense to me: there is a level term payout throughout the tenor, and got surrender value, and the premiums are CHEAPER? Really? What's the catch?? Maybe their actuary corkup and designed a toxic product.

This post has been edited by corleone74: May 24 2018, 07:55 PM

Boss I dun think mlta is best. My view is if die die must buy then pls choose mlta.

I blif no debt is best. But its not easy. So loan is the onli option at least to me.

I hav onli tried mlta once n not mrta after studying the differences. Tis mlta has followed me for yrs n changed nominees the 3rd time next mth. I find it flexible n hassle free.

Regarding the cash back. I dun remember I mentioned athg out it. I was told the surrender value is low but definitely unlike mrta where its burnt. So instead of surrendering mlta I hav chosen to utilise it for loan coverage in case I kantoi.

Anw I stil prefer if I dun need loan then I dun need to choose wateva insolan. Guess many would wish so too 😅😅😅

you say like that i totally understand and it make cents. but some of the pipu here what they write, my feeling is the kena con job by the insolan agen liao.

for me my mrta is best, and it can follow me if sell property, but maybe the product in singapore not exactly same same as malesia one. why i say best is, becos the premium veli low. in fact in singapore i neber hear anyone buy mlta one. all buy mrta oni. if they want level term they go buy level term insolan. i oso got some level term life insolan. all no cash value one. only pay if i mampus. if sullender no value one

as i know mlta , mrta, it's not a product for saving money one. its reducing term or level term life. no surrender value or little bit value oni. if want those with value at the end just buy life insolan or endowment ba.

This post has been edited by corleone74: May 25 2018, 06:58 AM

Yea I agree, most insurance agents will advise to not buy MRTA and use life insurance to cover. For me I still suggest to go with MRTA/MLTA, less hassle.

Yes, MRTA only pay for one time, insurance have to pay for 10+ 20 years, that's for 1 property, if have 10 properties, have to top up and or buy new one, ended up whole life paying for insurance

the difference is the MLTA offer by GE is shorter tenure... i think we just need to pay for 20 years... but insured u to 35 years only... if lets say u really let it run until end of the 35 years... your cash value definitely lesser... they link the product with low risk investment fund one.... hence why the cash value can hold on.... even there is reduction on the cash value... it will be minimal amount loss by the 20th year where u can choose to withdraw the cash...

in msia... MRTA basically burnt for nothing if u are going to sell your hse few times over your working life... and sometimes u not sure how many years u going to buy to insure... u thought u going to stay in it forever... but sometimes things may changed....

MRTA actually is better . MLTA just a packaging name which under INVESTMENT LINK INSURANCE PLAN ( SAME LIKE FOR THOSE HAVE EXPERIENCED SIGNED UP MEDICAL CARD WITH HIGH PREMIUM AND PROVIDE ACCUMULATE CASH VALUE EVERY YEAR, same under investment link insurance plan) . PLUS is not worth at all for those who purchase 'MLTA' age >40 , premium too high and value too low .

BY THE WAY IM PREVIOUSLY AN INSURANCE AGENT IN ALLIANZ ,SO I KNEW IT AND MANY OF THE INSURANCE AGENT WANT TO CARI MAKAN SO WILL KEEP TALKING ABOUT HOW GOOD ARE MLTA . I WILL STICK TO MRTA FOR SURE.

Less hassle and worries when you include MRTA. Although insurance is an alternative option, if you buy more than 1 property, will insurance be enough to cover if anything happens to you? What about the livelihood of your love ones (especially when children are still young & wife is not working) when you are not around or invalid? My 2 cents of thoughts.

Absolutely, MRTA is so much cheaper. The focus is protection, not savings. It is a solution to possible financial crisis.

Anyone can explain this?


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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

MLTA is a VERY EXPENSIVE coverage compared to MRTA. MLTA does not reduce the amount overtime and you can move it to other property once you sell your current prop.

Personally i have 4 props, 3 investment i did no buy MRTA as the rental is sufficient to cover installment, touch wood i mati, my family still can use the rental income to cover my installment.

Whereas, for my own stay prop, i have full coverage MRTA (Because it is cheap). If anything happen to me, my family don't have to worry as it's fully covered.

As for life insurance, i do buy them and my family can use this money to do other stuff instead of using it to pay the bank (since bank has MRTA)

Ask yourself, do you want your family to use the full sum of life insurance to pay the property ? How much do they left if they do so ? Is it sufficient for them to survive 3-5 years, so they get to plan things out?

MRTA is good buy for own stay.. if anything happen to us, our family will not be burdened with monthly installment and they can continue to stay in the house..

Plus, it's cheapest. Rmb, we only want to seek for coverage not saving. Cheapest + fully covered, why not? why want to save the few thousand and burden your family?

Hey, thanks for sharing this! Indeed my upcoming property is meant more for investment and I also plan to keep buying investment property. My family members are all very self-reliant at the moment so really I am lucky enough that I don't have to worry about that part.

So yalor, I feel that for my situation, life insurance makes the most sense.

Hi all, i got a question regarding of MRTA.. Let say its only cover for 10 years, what happen if on the 11th year i die? Does that's mean the MRTA will no longer insure my house and will be lelong? Or the next of kin will have to continue to pay for the housing loan?

If i have will set as my next of kin, what will be next move for the property?

Aish, why my MLTT annually 3k for 300k house loan.

This post has been edited by fumie: Sep 18 2019, 07:12 PM

Your next of kin has to continue pay for the installment after that.

Regarding mrta, can we choose to insured period ? Example choices of 20 years or 25years

Can.