Mortgage Reducing Term Takaful (MRTT) HLB

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  • Mortgage Reducing Term Takaful (MRTT)
Mortgage Reducing Term Takaful (MRTT)

Ease your financial burden in repaying the outstanding property financing

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Product Benefits

  • Product Benefits
  • Overview

Worry-free commitment

Be secure in the knowledge that the payout of the Benefit in the event of your death or Total and Permanent Disability (TPD) will lessen your financial burden in repaying the outstanding property financing.

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Maturity Value

Upon your survival to the maturity age, the remaining balance in your Participant Account (PA) will also be payable.

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One-Off Payment

You only pay a single contribution payment to be protected for the duration of your coverage.

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Contribution
You may choose from one of two payment options:     
                       
• Non-Financed Contribution: A one-off single contribution payment
• Financed Contribution: Including your contribution as part of your property financing facility and paying through your monthly instalment.
Minimum Entry Age
18 years old ( age next birthday)
Maximum Entry Age
66 years old (age next birthday)
Maximum Expiry Age
76 years old ( age next birthday)
Minimum Coverage Term
5 years (exclusive of deferment period)
Maximum Coverage Term
40 years (inclusive of deferment period of up to 5 years)
Sum Covered
The Sum Covered will reduce on a monthly rest basis.
Benefit
Minimum
Maximum
Death
RM10,000
Subject to underwriting limit
TPD
RM10,000
RM3.5 million per life limit

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