07/04/2025
๐ โจHOUSE Loan protection
๐ฌ Confused between MRTA and MLTA?
๐ What is MRTA?
โ๏ธ Mortgage Reducing Term Assurance
๐ก๏ธ Protects the Bank (not your family).
๐ Coverage reduces throughout the loan tenure.
โ Non-transferable for refinances/purchases.
โ No cash value at the end of the loan tenure.
๐ What is MLTA?
โ๏ธ Mortgage Level Term Assurance
๐ก๏ธ Protects both your home loan AND your familyโs future.
๐ Coverage stays consistent with additional benefits.
โ
Transferable - Can reuse for refinancing.
๐ต Cash value (optional): Early settlement or retirement plan.
The Difference at CLAIMS โจ
๐ How it works:
MRTA: Insurance pays the bank, and your family remains responsible for settlement/ownership fees.
MLTA: Insurance pays the bank AND your nominated beneficiary, providing extra funds for your family.
Which is Right for YOU? ๐ค
๐ If you want basic protection for your loan โ MRTA works.
๐ If you want added protection + savings for your loved ones โ MLTA is the smarter choice!