HOME  -    PROPERTY ADS   -   DISCUSSION FORUM   -   REALTORS   -   LINKS    -   CONTACT US



Realtors and Real Estate Agents - Sign Up for Free Account at Property.net.my >>


Malaysia Real Estate
Malaysia Real Estate Portal
 
 FAQFAQ   SearchSearch   UsergroupsUsergroups   RegisterRegister 
 ProfileProfile   Log in to check your private messagesLog in to check your private messages   Log inLog in 

Between MRTA & MLTA

 
Post new topic   Reply to topic    Malaysia Real Estate Forum Index -> Insurance
View previous topic :: View next topic  
Author Message
km2090



Joined: 29 May 2007
Posts: 8

PostPosted: Thu May 15, 2008 1:29 am    Post subject: Between MRTA & MLTA Reply with quote

Hi,

Im first time property buyer. 31age. Actually the property cost about RM344K, and the loan amount i taking is RM310K, loan tenure is 30yrs.

Anyone have any idea how much i will be paying for MLTA for the loan amount of RM310K? Smile
Back to top
View user's profile
Scott123



Joined: 25 May 2008
Posts: 45

PostPosted: Tue Jul 08, 2008 8:43 pm    Post subject: Reply with quote

Well….I think if you wait for some more time… you can get a lot better suggestions that this…I am out of any ideas for this!!!!
Back to top
View user's profile
klguy



Joined: 01 Feb 2009
Posts: 11

PostPosted: Mon Feb 02, 2009 4:26 pm    Post subject: MLTA Reply with quote

Dear KM2090, you still looking for MLTA insurance coverage?
my email is kenny5365@gmail.com
thanks
Back to top
View user's profile
MickeyM



Joined: 11 May 2009
Posts: 40

PostPosted: Thu Jul 30, 2009 9:16 am    Post subject: Reply with quote

Hi,

What's the difference between MRTA, MLTA and Term? I am looking for one too, pls adv.

Thanks Very Happy
Back to top
View user's profile
klang-valley



Joined: 11 Jun 2009
Posts: 121
Location: Petaling Jaya

PostPosted: Fri Jul 31, 2009 10:49 pm    Post subject: Reply with quote

MRTA
- sum insured based on loan outstanding amount (decreases with time)
- pay up front, one time
- will not get any money back
- cheapest


MLTA
- sum insured based on a fixed amount upon first inception
- pay annually
- will get the money back + some interest
- more expensive than MRTA, but if for long term it can breakeven

Contact me for an appointment now. Some people don't want to buy MRTA or MLTA. If something unfortunate happen eg TPD or death, they better make sure they have enough savings to cover the mortgage loan, if not the bank will auction off the property.
_________________
Mortgage Loan in Klang valley...
.://..Klang-Valley.com
Back to top
View user's profile MSN Messenger
MickeyM



Joined: 11 May 2009
Posts: 40

PostPosted: Sat Aug 01, 2009 11:30 am    Post subject: Reply with quote

Hi

Thanks for your reply. How about Term insurance?

You mean I don't have to get insurance if I don't want to? I tot it is a must in order to get your loan approved by the bank?


Very Happy
Back to top
View user's profile
MickeyM



Joined: 11 May 2009
Posts: 40

PostPosted: Sat Aug 01, 2009 11:42 am    Post subject: Reply with quote

BTW, can quote how much should I pay for:

1) Tenure: 30 years or 20 years
2) age : 38 years old
3) Loan amount: 402,804

MLTA
MRTA
Term


Thanks very much Very Happy
Back to top
View user's profile
klang-valley



Joined: 11 Jun 2009
Posts: 121
Location: Petaling Jaya

PostPosted: Sun Aug 02, 2009 6:50 pm    Post subject: Reply with quote

MRTA/MLTA is not mandatory if you take the loan from the bank, some bank want you to buy for protection. If you take MRTA/MLTA, the bank normally can offer you a good loan package, but not always.

Age 38, non smoker:

(a) Tenure 30 years

MRTA = RM25151.08 ( one time)
_________________
Mortgage Loan in Klang valley...
.://..Klang-Valley.com


Last edited by klang-valley on Wed Aug 05, 2009 8:36 pm; edited 1 time in total
Back to top
View user's profile MSN Messenger
MickeyM



Joined: 11 May 2009
Posts: 40

PostPosted: Mon Aug 03, 2009 11:15 am    Post subject: Reply with quote

Thanks for your reply. How about 20 years?
Back to top
View user's profile
klang-valley



Joined: 11 Jun 2009
Posts: 121
Location: Petaling Jaya

PostPosted: Wed Aug 05, 2009 8:42 pm    Post subject: Reply with quote

For exact quote, pls visit my website and send me an email. Not everyone will have the same quote depending on factors like smoker, etc.
_________________
Mortgage Loan in Klang valley...
.://..Klang-Valley.com
Back to top
View user's profile MSN Messenger
Gavin_Lim



Joined: 08 Jul 2009
Posts: 93
Location: Kuala Lumpur

PostPosted: Fri Aug 07, 2009 4:32 pm    Post subject: Reply with quote

If your budget is not too tight, why not choosing critical cover? Coz MRTA don't compensate for critical illnesses.
_________________
We Provide Solutions for:
Emergency Needs, Retirement, Child's Education & Business Succession
Estate Administration (Will Writing & Trust)
Home Loan & MRTA/MLTA
..gavin-lim.webs.com
cheahyang_0@hotmail.com
Back to top
View user's profile Yahoo Messenger MSN Messenger
MickeyM



Joined: 11 May 2009
Posts: 40

PostPosted: Fri Aug 07, 2009 8:48 pm    Post subject: Reply with quote

Thanks for your reply. Already covered with Critical Illness. Just want basic cover for the bank loan. Can adv which is the cheapest? Very Happy
Back to top
View user's profile
Gavin_Lim



Joined: 08 Jul 2009
Posts: 93
Location: Kuala Lumpur

PostPosted: Sat Aug 08, 2009 3:20 am    Post subject: Reply with quote

Reducing term is the cheapest. However, the cheapest may not be the best deal. I don't recommend MRTA/MLTA as those are not transferrable. Let say one day you do refinance to your loan, then your MRTA/MLTA is gone. Moreover, MRTA/MLTA is a one time charge. Normally it will add into your loan then being charge interest until you have settled your loan. If you take MLTA, do you think the cash value is enough to breakeven your money which has been charged 20 years interest by the bank, and also the inflation rate that reduces the value of your money in future?
At the moment you took the critical cover, it's for other purposes and not meant for this loan, isn't it? So do you think it's not necessary to top up for critical cover?
If you choose to take reducing term, you have to take about 480K protection for your 400k loan. Otherwise it may not be enough to offset your outstanding in the future.

Age 38, male, non-smoker, RM480K reducing term for 20 years.
Annual Premium : RM1841.40 (Cover for Death & TPD only)

Have you applied the home loan already? I'm also helping my clients to apply for their home loan as well. We are authourized by 11 banks to promote their products. So if you have any question, please feel free to ask.
_________________
We Provide Solutions for:
Emergency Needs, Retirement, Child's Education & Business Succession
Estate Administration (Will Writing & Trust)
Home Loan & MRTA/MLTA
..gavin-lim.webs.com
cheahyang_0@hotmail.com
Back to top
View user's profile Yahoo Messenger MSN Messenger
MickeyM



Joined: 11 May 2009
Posts: 40

PostPosted: Sat Aug 08, 2009 1:44 pm    Post subject: Reply with quote

Thanks for your info. Have ask for quote from Banks but they have not replied. Can you email me pls with best quote and your contact no. Thanks Very Happy

m.mooby@gmail.com
Back to top
View user's profile
Gavin_Lim



Joined: 08 Jul 2009
Posts: 93
Location: Kuala Lumpur

PostPosted: Sat Aug 08, 2009 3:33 pm    Post subject: Reply with quote

A lot of factors can affect the rate that a bank can offer you. Such as zero or non-zero moving cost, completed property or property under construction, your margin of finance, your credit history and the income documents you provide to the bank. Some bank offer cheaper rate for first 2 years then thereafter will increase the rate. We can't promise you with the cheapest rate in town because the final decision is depends on the bank, not us. But we will try our best to fight for a better rate for you. Some of our client can get as low as BLR-2.30%.

For more details, you may e-mail your questions to cheahyang_0@hotmail.com . If you would like to make an appointment, you may call 016-975 1234 / 016-790 8765, but only if you're staying in KL area.

Hope my info will help! Very Happy
_________________
We Provide Solutions for:
Emergency Needs, Retirement, Child's Education & Business Succession
Estate Administration (Will Writing & Trust)
Home Loan & MRTA/MLTA
..gavin-lim.webs.com
cheahyang_0@hotmail.com
Back to top
View user's profile Yahoo Messenger MSN Messenger
charmine806



Joined: 10 Jan 2010
Posts: 4

PostPosted: Sun Jan 10, 2010 4:37 pm    Post subject: Reply with quote

MickeyM wrote:
Hi,

What's the difference between MRTA, MLTA and Term? I am looking for one too, pls adv.

Thanks Very Happy


MRTA suitables for one time buyer and you pay up front together with the loan. After the loan tenure, the return is zero.

MLTA is like you put your right pocket money to your left pocket money. You can use it to settle your loan and also you will get some interest after you plan to terminate it. Also, your premium will not be so expensive when you purchase second property.

Kindly contact me at 0122337985 if you need further info.

For term, although it is cheap if compare with MLTA but it is not worth if your loan tenure is long.Nowadays, almost everyone will buy two house.So it is not worth to buy term insurance coz you will get zero return at the end. But, if financial status don't allow you to buy MLTA at that time you can consider term.
Back to top
View user's profile
pratishtha



Joined: 20 May 2009
Posts: 10

PostPosted: Fri Mar 19, 2010 8:10 pm    Post subject: Reply with quote

the difference between MRTA, MLTA and Term? I am looking for one too, pls adv.
_________________
Cheap Web Design
Back to top
View user's profile
Gavin_Lim



Joined: 08 Jul 2009
Posts: 93
Location: Kuala Lumpur

PostPosted: Sat Mar 20, 2010 6:35 pm    Post subject: Reply with quote

Hi pratishtha,
Please give me your e-mail address so that I can send more details to you. You can also visit my website at ..gavin-lim.webs.com/homeloanmlta.htm for related info. Thanks!
_________________
We Provide Solutions for:
Emergency Needs, Retirement, Child's Education & Business Succession
Estate Administration (Will Writing & Trust)
Home Loan & MRTA/MLTA
..gavin-lim.webs.com
cheahyang_0@hotmail.com
Back to top
View user's profile Yahoo Messenger MSN Messenger
p3nang



Joined: 09 Jul 2009
Posts: 69

PostPosted: Mon Mar 22, 2010 7:50 pm    Post subject: Re: Between MRTA & MLTA Reply with quote

km2090 wrote:
Hi,

Im first time property buyer. 31age. Actually the property cost about RM344K, and the loan amount i taking is RM310K, loan tenure is 30yrs.

Anyone have any idea how much i will be paying for MLTA for the loan amount of RM310K? Smile


Hi, I am Denny.
The normal price is 3.4k/annum.
But i can help you get up to 2.4k discount with our promotion package.
How may i get contact with you?
_________________
Free insurance

Feel free to contact me.
cc_wong1987@yahoo.com
017-4387038
Back to top
View user's profile
basumayra0910



Joined: 18 May 2010
Posts: 3

PostPosted: Wed May 19, 2010 1:05 am    Post subject: Reply with quote

hello guys ...


its really nice post....


i just liked it....


thanks....
_________________
mercury oem parts

mini oem parts
Back to top
View user's profile
titann16



Joined: 05 Jul 2010
Posts: 10

PostPosted: Tue Jul 06, 2010 4:52 pm    Post subject: Reply with quote

Hi guys, really need more info how is this MRTA n MLTA works, kindly advice
Back to top
View user's profile
stanyseong



Joined: 08 Jun 2010
Posts: 12

PostPosted: Tue Jul 13, 2010 11:30 pm    Post subject: Reply with quote

titann16 wrote:
Hi guys, really need more info how is this MRTA n MLTA works, kindly advice


Hi titann16,

Can i have your contact? I am able to advise you about this.. You may sms/call me at 016-9781983. KS.
_________________
KS Wong
Email: stany_seong@hotmail.com
Back to top
View user's profile MSN Messenger
jacob_alex12



Joined: 01 Dec 2010
Posts: 3
Location: Australia

PostPosted: Wed Dec 01, 2010 4:13 pm    Post subject: Reply with quote

MRTA – Mortgage Reducing Term Assurance.
Normally can be purchased from any banks, if you are thinking of protecting your asset against death and total permanent disability. Get advice from your banker as they will provide MRTA loan on top of your housing loan to cover your purchase.

MLTA - Mortgage Level Term Assurance. Can be purchased from Insurance broker / agent.
MLTA is an asset as you get your money back and probably with higher
interest than what a bank would give.
Thanks
Back to top
View user's profile
vsharma72



Joined: 09 Feb 2010
Posts: 3
Location: INDIA

PostPosted: Sat Jan 29, 2011 4:28 pm    Post subject: Reply with quote

You mean I don't have to get insurance if I don't want to? I tot it is a must in order to get your loan approved by the bank?



Actress Hot Pictures
Movies Online Free
Back to top
View user's profile
Display posts from previous:   
Post new topic   Reply to topic    Malaysia Real Estate Forum Index -> Insurance All times are GMT + 8 Hours
Page 1 of 1

 
Jump to:  
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum



This is a free forum intended to foster communication between all users.
Hileytech Sdn Bhd does not guarantee the correctness or validity of postings, nor does Hileytech endorse any postings. No posting or contents in this forum can be copied and reproduced without prior permission from Hileytech and the owner of the posting. All other names and marks are trade names, trademarks or registered trademarks of their respective owners.
Powered by phpBB, Another web site by www.hileytech.com,Forum Archive
Tel : +603-89449965, +603.89449365 ::  Fax : +603-89440665 :: hiley@hileytech.com