MRTA Vs MLTA: Which Do You Need?

Buying a home is a huge commitment and will take the average homeowner up to 35 years to fully repay. Providing a home for your dependent is a good thing, but if the home loan is not settled in full, it can turn into a burden for your loved ones in the event of death or total permanent disability (TPD).
It is with these unfortunate circumstances in mind that most mortgage officers offer mortgage life insurance policy to home buyers. In the event of death or TPD, the policy frees the borrower’s dependents from any debt as it is designed to pay off the remaining debt on repayment mortgages.
Just like any other life insurance policy, you need to pay a set amount of premium for a mortgage life insurance policy. If you pass away while the policy is in effect, the insurance company pays off your mortgage. Your spouse or beneficiaries can then live in the house debt-free without having to worry about making any mortgage payments.
Which mortgage life insurance do I need?

In Malaysia, there are two types of mortgage life insurance available – Mortgage Reducing Term Assurance (MRTA) or Mortgage Decreasing Term Assurance (MDTA) and Mortgage Level Term Assurance (MLTA).
However, MRTA and MLTA are often misunderstood. Which do you need as a homeowner?

Is it worth having?

Most mortgage officers recommend mortgage life insurance (either MRTA or MLTA) when buying a new home. However, before committing to an insurance policy, it helps to do as much research as you can on the product.
Mortgage life insurance is aimed at providing security to your loved ones from being burdened by home loan repayments if you pass away or are afflicted by permanent disability. However, if you do not have anyone to leave your property to and money is tight, getting a mortgage life insurance may not be your highest priority. For those with dependents however, it’s worth considering.

How much do I need to pay?

How much premium you need to pay for your MRTA or MLTA is subject to your age, loan amount and your loan tenure. The older you are and the higher the loan amount, the higher the premium you will have to pay.
Just like purchasing life or health insurance, if a person is diagnosed with a certain illness, the insurance company has the right to reject the policy or there will be extra loading in the premium. It depends on how severe the illness is and will only be determined after a medical examination by their panel doctors.

* These figures are used as reference as the interest rate will differ from insurer to insurer. 
Understanding what you are purchasing is the crucial in managing your money. If you are unable to pay the premium of MRTA, you can opt to finance the premium into the loan and thus the loan instalment will increase. You will also be paying extra interest as the bank is advancing the money to you to pay the premium.

Money-saving tip!
If your home is refinanced or sold before the loan tenure is over, you can surrender your MRTA policy and claim back the cash surrender value, provided if the evidence of sale is submitted.  

Source:
http://www.imoney.my/articles/mrta-vs-mlta-need/

 

New Attraction for Cyberjaya

DPulze Shopping Centre in Cyberjaya is 80% tenanted and due to open in August.

 

 

DPulze Ventures Sdn Bhd signed a memorandum of understanding with 11 of its biggest tenants in the DPulze Shopping Centre in Cyberjaya recently.

These tenants comprise well-known retailers and brands such as TGV, Jaya Grocer, FOS, Celebrity Fitness, MPH, Yamaha, U Bowl, Song Box, Molly Fantasy, Tune Hotels and Regus.
The shopping centre is in its final stages of construction and 80% tenanted.

Other retailers in the mall include Ace Hardware, Kitchen Shop by Katrin BJ, Akemi Uchi, Royal Sporting House, Adidas, Plan B by the Big Group, City Chain, The Coffee Bean & Tea Leaf, The Loaf, Rakuzen, Sushi Zanmai, Ole Ole Bali, Homst and Thai Odyssey.
“DPulze is a neighbourhood mall, smaller in size than a regional mall, but conveniently located and has a variety of retail outlets, from entertainment to a supermarket which caters to the needs of the surrounding community,” explained DPulze Ventures Sdn Bhd chairman Kan Ah Chun.
As the first retail commercial project by DPulze Ventures Sdn Bhd, careful attention was paid to the product mix when planning the RM500mil development.
“We were very conservative in our financial approach,” said Kan at the signing ceremony.
Complementing the retail outlets is The Tune DPulze Cyberjaya, the only limited-service hotel in the Cyberjaya, Putrajaya, Dengkil and Sepang areas.
The 200-room hotel is set to begin operations in a matter of weeks. Regus Serviced Offices, which comprise more than 120 workstations will be opened within the next two months while a Citadines serviced residences with 230 rooms managed by The Ascott Ltd will open its doors within the next five months.
Kan said, “We do not rush from project to project. When we take on something new, we look into every detail with great attention, such as the location, dynamics and layout. They must all be good. We are always very careful.”
Situated directly opposite the main transportation terminal in Cyberjaya and facing Persiaran Multimedia, Cyberjaya’s busy main road, the shopping centre’s close proximity to major MNCs and universtities in the area provides the mall with ready catchment and population.
“Reports have shown that we serve a population of 450,000 with total untapped retail expenditure of RM3.97bil.
“The population in Cyberjaya is expected to increase exponentially when another 11,000 residence units are completed within the next two years and there are another RM14bil worth of developments over the next six years.
“That is good news for Dpulze, and Dpulze is good news for them,” said Kan.
Also present to witness the MoU signing ceremony was Cyberview Sdn Bhd managing director Faris Yahaya.
Faris said he was certain the mall would bring benefits to Cyberjaya.
“The shopping centre will enhance the city’s ecosystem and will further enrich the city’s lifestyle, with distinguished retail brands that offer an array of selections,” he said.
Mandated by the Government to spearhead the development of the city, Cyberview’s focus for this year is to transform and elevate Cyberjaya into a global technology hub while continuing to promote entrepreneurship, innovation and creativity.
DPulze Shopping Centre is expected to open in August, making it the first of its kind to open in Cyberjaya with several others to follow in the next two to four years.

Source:
http://www.thestar.com.my/Business/SME/2014/04/25/New-attraction-for-Cyberjaya-New-mall-set-to-open-in-August-with-major-tenants-signed-up/

Details please contact:
Jeff Chin 012-2616 494





Property King, 2014 February Issue

  

Excellent property for Investment!

Sold more than 80%!

Please contact:
Jeff Chin 012-2616 494

Mutiara Ville - Excellent Property For Investment!

 

Excellent property for Investment!

Sold out more than 80% in 3 weeks!

Grab a good property before CNY, your ever big "Angpao"!

Please contact:
Jeff Chin 012-2616 494

Cyberjaya

Cyberjaya D'pulze - TGV cinema, celebrity fitness, jaya groceries, tune hotel to b launch on 2014.
How often that we listen ppl say cyberjaya not a good place to live in?
Judge urself.

Tower D & E Promotion Package

Unit Type: Type Type A, A1
Booking Fees: RM10K
SPA Legal Fees & Disbursement: To be absorbed by Developer
Loan Legal Fees: To be absorbed by Developer
Pakage: 1) 4 units Air-cond
                  2) 2 water heaters
                  3) Kitchen cabinets (base & wall); Hood & Hob;
                  4) Bathroom Wall tiles to ceilings
                  5) Extra1 parking!!

Block D & Block E are now open for booking!

For further information, please contact:

Jeff Chin (012-2616 494)

Unit Type In Tower D & E

Block D & Block E are now open for booking!

For further information, please contact:

Jeff Chin (012-2616 494)