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<blockquote data-quote="astroboy" data-source="post: 351872" data-attributes="member: 4527"><p>MRTA (Mortgage Reducing Term Assurance), if your look at the risk reward rate, its ridiculously unattractive compare to a conventional life insurance. I suggest you increase your life policy coverages.. but MRTA is tax deductible when you are being slapped with RPGT (Real Property Gain Tax), which has been abolished thus far. </p><p></p><p>Furthermore MRTA itself is a rip off when you dispose off your property before the loan term mature, or early settle your housing loan as its totally inflexible for the insured to transfer the MRTA to a new property with outstanding loan or even to switch beneficiary from the bank to the house owner's next-of-kin after early settling the loan. Early surrendering or canceling the MRTA is the only option when one early settle the loan and the refund is of miserable proportion.</p></blockquote><p></p>
[QUOTE="astroboy, post: 351872, member: 4527"] MRTA (Mortgage Reducing Term Assurance), if your look at the risk reward rate, its ridiculously unattractive compare to a conventional life insurance. I suggest you increase your life policy coverages.. but MRTA is tax deductible when you are being slapped with RPGT (Real Property Gain Tax), which has been abolished thus far. Furthermore MRTA itself is a rip off when you dispose off your property before the loan term mature, or early settle your housing loan as its totally inflexible for the insured to transfer the MRTA to a new property with outstanding loan or even to switch beneficiary from the bank to the house owner's next-of-kin after early settling the loan. Early surrendering or canceling the MRTA is the only option when one early settle the loan and the refund is of miserable proportion. [/QUOTE]
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