MLTA as low as RM20/month

Many of us already own homes and many are resolved about to buy a home. House is an asset that should we have to ensure our future. Among the issues we must consider in buying a house is mortgage insurance. There are two mortgage insurance is the MRTA and MLTA.

MRTA

1. Not transferable. Can not be transferred. If you refinance or purchase a new home, must take a new policy. Eg, the same home refinance after 5 years, with the SAME tenure and loan amount, the cost will increase MRTA (increase per age).
2. Decreasing coverage. MRTA only cover the loan balance.
3. Insurability is not Guaranteed. Every time buy MRTA policy, age and health factors are taken into account.
4. If the home sale or refinance, refund carumah MRTA who have paid can be claimed and paid on a pro-rate (pro rata) in accordance with the balance of the loan.
Examples of cases: Mr. Z buy home loans RM150k, RM150k MRTA also, for the past 30 years. After 5 years, Mr. Ali experiencing permanent disability (TPD). The remaining loan is RM120k. So the insurance company will pay RM120k to the bank.

MLTA

1. Transferable. May be transferred if buying a new home or refinance the same house.
2. Coverage Level. The same coverage over the loan.
3. Insurability is Guaranteed. Buy only once, no need to prove the health of each purchase / refinance homes. 4. Saving and investment return. Part of the premium payment will be donated to saving, plus the return of investment. Cash value (saving + return) may be issued in bila2 time or at maturity for certain uses such as payment of pre-payment home loan.
5. Cash back. If not applicable to the borrower ape2 / contributors until the end of MLTA, contributors will receive cash proceeds of saving and investment returns.

Eg the case:

Mr. Z bought homes with loans RM150k, RM150k MLTA also, for the past 30 years. After 5 years, Ali suffered permanent disability (TPD). The remaining loan is RM120k. So the insurance company will pay to the bank Rm120k, and the remaining RM30K to the nominee. Prudential BSN Takaful has launched new products including the premium MLTA which starts as low as RM 20 a month. Premium payments can be paid monthly, 3 months. 6 months or annual. Among the features of Prudential BSN Takaful MLTA are: -

1) Financial protection for your family .- give your family a cash sum if you die so they can continue with their lives.
2) Financial protection for you .- give you money if you can no longer make a living krn total and permanent disability.
3) Financial protection against inflation by PruBSN .- Protect Plus, the amount of coverage meningkan 5% every 3 years.
4) Leaving a legacy for loved ones .- memjamin financial well-being of your loved ones if you die.
5) The minimum contribution for the benefit of the whole .- ensure full financial protection with contributions as low as RM0.67 per day.
6) guarantee accommodation for your family .- use the money from the plan to solve your home mortgage guarantee accommodation for your family.