Malaysia Real Estate

[nick1994]

~1

[nick1994]

...u can oso say that ultimately, the poor suckers r paying 4 their ignorance.............................

[ianouii]

[nick1994]

edited

[mercuri]

fuyoo! kowtow brudder! kekekekekekek

[mda]

I was advised to take term insurance and pay it yearly rather than MRTA, where you pay everything upfront.

Any idea why?

[nick1994]

~2

[Eric Koh]

The Home Loan of 5.89% FIXED for 30 years is still offered now, until the funds are fully utilized. Do let me know if you are interested of this rate, erickoh33@gmail.com, or contact my associates

Chiew Hsia 012-223-5826
Patrick Tan 012-233-2811
Amelia Kong 013-397-2687

Interested be introducer of home loan, kindly email erickoh33@gmail.com for affiliate fees enquiries.

The loan rate closed anytime, do rush in and fix it 30 years!

Eric
012-299-2009

[lovehome]

Eric,
Which bank/insurance com u r represent!
ur interest rate r quite interesting,usure it stil ON after the recent BLR increase?

[Banzai]

[lovehome]

thx

[trojan]

MLTA sounds more interesting than MRTA.
Which bank offer MLTA for housing loan?
How about AIA and ING?

Thanks.

[sanekkspb]

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I love this site!!!

[xen]

A lot of my friends confuse the function of MRTA w CI or similar life plan with CI

Normal MRTA only covers death or TD, so if I bought a house and with a MRTA, if I die or become disabled before the end of the tenure, the bank or insurance company will settle the outstanding loan. My family doesn't have to worry. But what if I get any of the major illness (heart attack, stroke, kidney failure, cancer etc)? Too bad, I or my family still have to pay the remaining loan.

MRTA w CI covers this area though some policies covers less critical illnesses. ING Mortgage Protection Plan covers 35 critical illnesses. So ING will settle the remianing loan if I get any of the 35 illness.

So I always recommend my friends, people getting home loans from me go for MRTA w CI


trojan
We do offer a life plan similar to MLTA for home loan

Winson
016 2332 484
ING

[Banzai]

[xen]

Male, 30, non-smoker, sum assured 100K, tenure 30 years, interest 6.3%

MRTA - 3094, one lump sum
MRTA w CI - 7844, one lump sum

IMPP - 538 / year
IMPP same with MRTA w CI but can pay annually instead. About the same if you take 7844 loan from bank (depends on interest again)

[xen]

Just wish to give some brief descriptions of some policies available for home loan. Let’s assume is 100K (sum assured) for a tenure of 30 years. Different insurance companies might be slightly different.

1. MRTA
Normally paid whole lump sum, cheapest in total
If half way through the tenure, I die or becomes disabled, reduced sum assured is used to settle remaining loan.
If I get any f the 35 CIs, I still have to continue paying the loan

2. MRTA / CI
Normally paid whole lump sum, more expansive than MRTA
If half way through the tenure, I die or becomes disabled, reduced sum assured is used to settle remaining loan.
If I get any f the 35 CIs, reduced sum assured is used to settle remaining loan

3. Decreasing Term Life
Can paid annually, normally doesn’t cover CI, total is more than MRTA
If half way through the tenure, I die or becomes disabled, reduced sum assured is used to settle remaining loan.
If I get any f the 35 CIs, remaining premium for the rest of tenure is normally waived, but I still have to pay the loan
If I survive after the whole tenure, the policy will have no value.

4. Level Term Life
Same with Decreasing Term life except sum assured is never decreased. So extra money after settling the loan belongs to my family.

5. Nonparticipating Life
Can paid annually, covers CI, more premium, normally sum assured is fixed
If half way through the tenure, I die or becomes disabled, sum assured is used to settle remaining loan.
If I get any f the 35 CIs, sum assured is used to settle remaining loan
If I surrender the policy after the tenure, normally I get back around total premium I had paid for the tenure (depends on age, sum assured etc)

6. Participating Life
Same with nonparticipating life except sum assured will increase.
Not many people will use this to ‘protect’ their property, too expansive

So which policy? there is no "the best" policy, it depends on individual at the time of getting the loan.

[trojan]

Thanks, xen, for your explanations.

Further questions:
a) For the ING life plan similar to MLTA for home loan, does it cover 35 CI?
b) Does ING accepts insurance policy with period lesser than the loan period? (e.g. loan=25yrs, MLTA = 20yrs).
c) For under-construction property, does ING have option to allow starting installment during construction period?
d) For item-4 (level term life) and item-6 (participating life), do I get back any money, if I surrender the policy (e.g. I dump in a lumpsum after 10yrs, in order to settle the loan fully)
e) For item-5 (non-participating Life), will the sum assured decrease, remain or increase from year to year?

Thanks!!

[xen]

Further questions:
a) For the ING life plan similar to MLTA for home loan, does it cover 35 CI?
Yes, it does, it is basically a nonparticipating life plan with 35 CI with cash value OR
You can opt for Level Term Life. Please see above for description of Term assurance.

b) Does ING accepts insurance policy with period lesser than the loan period? (e.g. loan=25yrs, MLTA = 20yrs).
If you get loan from ING, no. The policy period must be same or more than the loan period.

c) For under-construction property, does ING have option to allow starting installment during construction period?
No

d) For item-4 (level term life) and item-6 (participating life), do I get back any money, if I surrender the
policy (e.g. I dump in a lump sum after 10yrs, in order to settle the loan fully)
In general, most policies have surrender values before maturity. The differences are Term assurance normally has no surrender value upon maturity but general life plans have surrender values (The values can be from less than total premium paid to more than total premium paid depend on plans) upon maturity
For your example, both policies have surrender values before maturity.

e) For item-5 (non-participating Life), will the sum assured decrease, remain or increase from year to year?
Nonparticipating life plan, sum assured does not increase, it remains the same. One usage of this plan is like below:
I get a nonparticipating life plan (300K) for my house
After 30 years, the plan has served its purpose of protecting the house, I surrender the plan and use the money to get another property.
Participating life plan, sum assured increases.
_________________
Winson
016-2332 484

[trojan]

zen,

Is it possible to negotiate with ING to allow starting installment during construction period?
FYI, AIA has this option.

Thanks!

[USSRanger]

[USSRanger]

[USSRanger]

[USSRanger]

[USSRanger]