Oh~ problem solved then good, cause MLTA is like life insurance, you can just top up for additional insured total amount

MRTA

Guys or girls, is there any recommended MLTA insurance company? Or, mostly there are the same?

I know AIA provides this, not sure about others. My friend worked in AIA and i am asking him to quote me one.

All insurance co sell mlta. You can also buy from your current life / medical co.

Mlta is just another life product.

All the same.

Just ensure that it's recognized insurer for your home loan’s bank.

Reading this thread got me curious about if I had MRTA or MLTA for my condo. Manage to find out that my unit had MLTA under Manulife, but it was only for 7 years. Premium was 6k for a 381k loan. This MLTA was packaged with the loan.

So question is, I read that MLTA after the term is over, premium is returned. So where did the cash go?

Premium 6k for 7 years is probably for MRTA.

MLTA you have to make recurring payments and will cost more than that.

Also who told you premium is returned for MLTA? You are referring to cash value?

Does purchase of MRTA by individual need to pay service tax?

My CIMB Bank force me buy MRTA 14k for cover 250k loan only for 21 years. after i take MRTA the interest rate offer me is 3.80%, but UOB offer 7k cover loan 210k for 13 years, and interest rate is 3.65%.

WHy CIMB Interest so high and MRTA so expensive?

If cimb offer lower than uob, then you will ask why uob so expensive. Is just like merry go around.

Possible cimb going for higher borrowing customers since paper work all the same nia.

As for mrta, one is 21 years and another is 13 years coverage, don't you see the answers is obvious ?

If there are no product differentiation, then no need to spend money on A&P and Mortgage Officer pay liao. Just close eye to borrower from any bank.

Haizzzzzz

This post has been edited by mini orchard: Jul 14 2025, 07:51 AM