PropStreet

PropStreet wish all our Muslim friends Selamat Hari Raya, have a good celebration with your family members & stay safe.

𝐈𝐦𝐩𝐫𝐞𝐬𝐬𝐢𝐯𝐞 𝐊𝐋 𝐂𝐢𝐭𝐲 𝐒𝐤𝐲𝐥𝐢𝐧𝐞
𝐁𝐫𝐚𝐧𝐝 𝐧𝐞𝐰 𝐭𝐨𝐰𝐞𝐫 𝐨𝐩𝐞𝐧 𝐟𝐨𝐫 𝐬𝐚𝐥𝐞𝐬

☑ A cozy home with generous community spaces and convenient connectivity

☑ Well thought unit layout 850sf and 1,000sf. Ideal size for small and medium families

☑ Approx. 2mins drive to Sunway Velocity Mall

☑ 4.5km to KLCC and Pavilion KL

☑ 4mins covered walkway (walking distance) to interchange MRT, LRT station

☑ Surrounded by mature township and established amenities

☑ Primary, secondary and international schools nearby

☑Booking fees only RM3,000

For more info, please click the link here https://tinyurl.com/t6dkd5o

𝐌𝐑𝐓𝐀 𝐯𝐬 𝐌𝐋𝐓𝐀 - 𝐖𝐡𝐢𝐜𝐡 𝐝𝐨 𝐲𝐨𝐮 𝐧𝐞𝐞𝐝?

Can’t seem to decide between MRTA & MLTA for the house that you recently bought? Please read on :)

As a homeowner, you must think about the potential risks, i.e what happens to your home and family if something unfortunate happen to you? Who will be paying off your mortgage instalments?

Here are 2 most common options available for Malaysian homeowners plus a third alternative unknown to many:

𝟏. 𝐌𝐨𝐫𝐭𝐠𝐚𝐠𝐞 𝐑𝐞𝐝𝐮𝐜𝐢𝐧𝐠 𝐓𝐞𝐫𝐦 𝐀𝐬𝐬𝐮𝐫𝐚𝐧𝐜𝐞 (𝐌𝐑𝐓𝐀)

MRTA is a life insurance plan with decreasing sum assured over time, and it used just to cover your home loan owed to bank. This plan is usually offered by the bank you are getting the mortgage from, as it is used as protection for the bank in case of misfortunes that stop you from servicing the loan.

𝐖𝐡𝐚𝐭 𝐚𝐫𝐞 𝐭𝐡𝐞 𝐜𝐨𝐧𝐬?
The MRTA’s biggest downside is that the loan settlement directly goes to the bank. Your family will have no control over it. Your house can remain frozen even if the loan is settled. This is until all your income tax, legal and accounting expenses are paid. Your family will not be completely protected from the financial burden in your absence, since they will receive no cash value from the policy.

𝟐. 𝐌𝐨𝐫𝐭𝐠𝐚𝐠𝐞 𝐋𝐞𝐯𝐞𝐥 𝐓𝐞𝐫𝐦 𝐀𝐬𝐬𝐮𝐫𝐚𝐧𝐜𝐞 (𝐌𝐋𝐓𝐀)

MLTA is a slight variation from MRTA and offers an alternative for a borrower who is looking for a life insurance which offers protection plus savings and in some policies returns on the premium.

An MLTA’s sum assured remains constant throughout the policy’s tenure period. The most important thing is that the insurance proceeds are credit-proof and will not be frozen. You and your dependents are financially protected when you are no longer around, or have lost the ability to generate income.

𝐖𝐡𝐚𝐭 𝐚𝐫𝐞 𝐭𝐡𝐞 𝐜𝐨𝐧𝐬?
The extra facilities of MLTA come at a price of higher premium which can be paid periodically over the tenure of the mortgage, on a monthly, quarterly or yearly basis.

𝟑. 𝐖𝐡𝐚𝐭 𝐢𝐬 𝐭𝐡𝐞 𝐭𝐡𝐢𝐫𝐝 𝐚𝐥𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐯𝐞? 𝐈𝐭’𝐬 𝐓𝐞𝐫𝐦 𝐋𝐢𝐟𝐞 𝐢𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞

If you would like to get a fusion of both options at a lower premium rate, then Term Life insurance is the answer.

It is the oldest and most common life insurance which offers your family (beneficiary) a lump sum payment (sum assured) in event of your death or TPD during your policy tenure (similar to MLTA).

If you are looking for an affordable and more flexible option, with a transparent premium and coverage value, then the Term Life insurance is for you.

Credits to https://www.iproperty.com.my/ and https://www.imoney.my/