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MRTA rejected. Need advise., MRTA rejected
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TScarjack18
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 Mar 4 2020, 12:42 PM, updated 6y ago
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Dear guys/ gals,
Good day,
I recently signed a bank loan with MRTA included in the loan amount. After that the insurance company called me to do a medical checkup as i have a pre-existing medical condition (age 40+), high blood pressure.
Today i received a letter from insurance company that my MRTA application is rejected.
Does it also mean that my approved loan with bank, will also be rejected ? or I need to pay for higher loan interest?
thanks in advance.
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TScarjack18
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Mar 4 2020, 10:28 PM
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Dear all, thanks for the replies.
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TScarjack18
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Mar 4 2020, 10:29 PM
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QUOTE(hokc77 @ Mar 4 2020, 12:49 PM) call your loan officer for clarification. I had that same shit with Hong Leong. Basically they gave me 3 options: 1. Pay higher MRTA rate to get full protection amount 2. Maintain same MRTA rate but the protection amount is reduced 3. Get 3rd party MRTA from other insurance. But HLB will increase my loan interest since my MRTA is not with them Just to clarify, we must buy MRTA or MLTA when buy house? Thanks |
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TScarjack18
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Mar 6 2020, 09:21 AM
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Thanks guys/ gals again for the reply/ info.
I didn't know that we have a choice to not buy MRTA/ MLTA coz the bank loan officer insisted that i must buy it. Thanks
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