MRTA VS MLTA
Buying a home will give you a huge commitment and it takes many years (up to 35 years) to fully repay. Therefore, you should be protecting this investment even when you are no longer around to finish paying for it due to unforeseen circumstances.
Mortgage Assurance is a type of insurance that will cover your outstanding property loan / mortgage if you are unable to do so in the event of death or total permanent disability.
In Malaysia, there are two types of mortgage life insurance available – Mortgage Reducing Term Assurance (MRTA) and Mortgage Level Term Assurance (MLTA). However, MRTA and MLTA are often misunderstood. Which do you need as a homeowner?
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