When you taking up a mortgage loan with the banks, the bank officers will recommend you to take mortgage life insurance to protect yourself. Don’t reject it outright as you have no idea how a mortgage life insurance can help your family and your own house if you passed away in sudden incident or total permanent disability (TPD) that caused you’re no longer able to generate income and pay for the house loan repayment.
There is 2 common mortgage life insurance available in Malaysia which is Mortgage Reducing Term Assurance (MRTA) and Mortgage Level Term Assurance (MLTA). These both type of insurance can help you to pay-off the remaining house loan in the event of death or TPD. So, still wonder whether it is necessary to taking any one when buying a home? Continue read on and you will get the answer!
To read the full article, please visit Do I Really Need A Mortgage Life Insurance?
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