MRTA/MRTT vs MLTA/MLTT

MRTA/MRTT vs MLTA/MLTT
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MRTA - Mortgage Reducing Term Assurance
MRTT -  Mortgage Reducing Term Takaful
MLTA - Mortgage Level Term Assurance 
MLTT - Mortgage Level Term Takaful

Ofcos Assurance ni utk konvensional while Takaful ni utk islamic financing sb patuh syariah

And ofcos insurance ni utk rumah korang dan hanya cover Death & Total Permanent Disability sahaja.. (Mati & Kecacatan Kekal)

MRTA/MRTT
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Term reducing tu memain kan peranan penting y mana menunjukkan bahawa utk insurance ini hanya cover berapa balance of o/standing loan rumah korang..

Contoh:
Loan RM500k MRTA/MRTT 500k.. selepas 10y o/standing ada RM400k so coverage pun hanya tinggal RM400k jugak..

Biasanya MRTA/MRTT lebih murah as compare as MLTA/MLTT dan boleh di capitalise dlm loan korang (include dlm loan sekali)
Dan x boleh di transfer ke lain2 property..

Bank akan caj korang one lump sum amount..

Kalau korang jual rumah korang selepas 5thn loan, korang still dpt balik MRTA/MRTT korang..
Cth- coverage utk 30thn.. lepas 5 thn jual.. bank dh caj korang upfront sb capitalised dlm loan.. the remaining 25y coverage tu bank akan pulangkan pd korang.. ramai y x sedar sb bank dh siap tolak drpd baki loan amount korang..
Ramai y ingat duit dia burn kalau dia jual..

Clear??

MLTA/MLTT
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Word Level tu dh bg mksd y agak jelas..
Utk MLTA/MLTT, premium dia agak mahal sedikit.. sebab coverage dia takkan follow o/standing balance loan korang..
Contoh:-
Loan RM500k MLTA/MLTT coverage RM500k..
Selepas 10y.. loan o/standing ade RM400k tp coverage still ada RM500k.. means kalau korang meninggal waris akan dpt lebihan coverage selepas setel o/standing loan kt bank..

Utk MLTA/MLTT ni korang boleh byr setahun sekali atau sebulan sekali atau 6bln sekali atau 3bulan sekali..
And bank xblh capitalised utk MLTA/MLTT ni (xblh masuk loan) so korang kene bayar sampai lah habis term of coverage..

MLTA/MLTT ni biasanya boleh di transfer..
Cth: Coverage RM500k boleh cover utk 2buah rumah harga RM250k dan bila loan o/standing dh reduce korang boleh tmbh lagi property utk same MLTA/MLTT

SUMBER ASAL: Bella Leana