Do you know what is the difference between MRTA & MLTA?

✅ MRTA
 
- Reducing sum assured (matches mortgage balance)
- One-time premium (may add to loan + interest)
- Payout → Bank
- No cash value | Tied to single loan (invalid on refinance)
- Lower cost | For basic mortgage coverage only
 
✅ MLTA
 
- Fixed sum assured (Whole term)
- Premium → Monthly/annual (no extra interest)
- Payout → Nominated beneficiaries
- Cash value (accumulates/withdrawable) | Flexible (refinance/new property)
- Higher cost | For family protection + savings
 
💡 Choice Tip
MRTA = Tight budget, no refinance plan
MLTA = Family focus, future refinance/buy property, want savings