Mortgage Reducing Term Assurance (MRTA)

Why do i need it?

• Peace of mind in the knowledge that you and your family will not be burdened and left with debt
• With this coverage, your SME Property and Business Financing is paid when you are no longer able to service the loan instalments
• Your business can still maintain the possession of your property(s)
• You have the option of paying single contributions or financing on your loan

How much should I insure?

• Your total loan amount

Benefits

Mortgage Reducing Term Assurance (MRTA):

• Guaranteed benefits to settle borrower's outstanding Loan
• Death or Total and Permanent Disability (TPD)
• Flexibility in Contribution Financing

Death* (Due to All Causes)

• One lump sum payment of Reducing Sum Assured

Total and Permanent Disability (TPD) per life (up till the Life Assured age of 65 - next birthday)

• Sum Assured is paid up to a maximum of RM1 million (6 months after TPD incident date)
• The balance (if any, up to RM1 million) is payable 1 year from the date of the first payment

TPD coverage expiry age

• Any Covered Member whose age is sixty five (65) years or more on the Cover Start Date shall not be entitled to TPD coverage

TPD maximum coverage

• Not exceeding a sum of RM2.0 million for this policy and all other credit related policy within ETIQA, if any, of the same Life Assured

Exclusion

• Death due to suicide or pre-existing conditions within 12 months from Insurance Coverage commencement date
• TPD due to war ,aviation, self-inflicted injury, suicide attempt, etc

Loan's Advance Payment

• Etiqa will cover the Reducing Sum Assured and stated in the Certificate of Assurance, regardless of any advance payment made

Loan's Early Settlement

• Surrender value is only payable upon request for surrender by Life Assured

Period of Assurance

• Min: 5 years
• Max: 58 years

Entry Age (age next birthday)

• Min: 17 years old
• Max: 65 years old

Expiry Age (age next birthday)

• Max: 75 years old

Sum Assured

• Min: RM100,000 Free Cover Limit (FCL) up to RM150,000 with auto acceptance
• Above RM150,001 is subject to medical assessment

This web page is neither a policy contract nor forming part of it. The precise benefits, terms and conditions and other details are available in the Policy Contract.