Mortgage Reducing Term Assurance (MRTA) and Mortgage Level Term Assurance (MLTA)

Secure your home and protect your loved ones, now and in the future.

Buying a house is a major life milestone for many, providing both financial benefits and sense of accomplishment and stability.

To secure your dream home and your family’s future, MRTA and MLTA provides financial backing for your mortgage in case of death or Total Permanent Disability (TPD).

Why should you get housing loan protection?

  • Financial Protection

Both MRTA and MLTA ensures that your housing loan will be fully or partially settled in the event of death or TPD, protecting your family form financial strain.

  • Peace of Mind

Knowing that your mortgage payment are covered during unexpected events reduces stress and protects your home and loved ones, providing financial stability and peace of mind during challenging times.

  • Financial Flexibility

Bundling MRTA and MLTA premiums with your housing loan can ease your worries of having the need to allocate extra funds to pay for insurance.

  • Joint Life Coverage

Offers financial protection for both individuals in the event of unforeseen circumstances, covering the risk for both parties.

Eligibility

  • MRTA/MLTA are exclusively offered to all Bank of China (Malaysia) Berhad customer with loan facility.
  • Entry age start from 19 to 66 years old (age next birthday)

What are the differences and similarities between MRTA and MLTA?

MRTA

MLTA

Lower cost of premium.

Higher cost of premium.

Decreasing coverage over time in line with your outstanding housing loan.

Coverage remains the same over time on a fix level Face Amount basis.

The insurance company will pay the outstanding mortgage in the event of death or TPD.

Any balance of the benefits after the loan repayment will be given to the nominee.

Important Notes

Please refer to the terms and conditions in the product materials (Product Brochure, Product Disclosure Sheet, Product Illustration etc) for details of the important features and exclusions of the insurance plan before purchase any insurance plan.

This insurance product is underwritten by Manulife Insurance Berhad [Company No:200801013654 (814942-M)], a company licensed under Financial Services Act 2013 and regulated by Bank Negara Malaysia. Manulife Insurance Berhad is a member of Perbadanan Insurans Deposit Malaysia (PIDM). The benefit(s) payable under eligible policy is protected by PIDM up to limits. Please refer to PIDM's TIPS Brochure or contact Manulife Insurance Berhad or PIDM (visit www.pidm.gov.my).

This insurance product is distributed by Bank of China (Malaysia) Berhad (Company No:200001008645 (511251-V). Bank of China (Malaysia) Berhad is a Licensed Bank under Bank Negara Malaysia. Assistance provided by Bank of China (Malaysia) Berhad includes product enquiries, claims assistance or complaints, please contact us for further assistance.

Policy Service Enquiry

  • For more information, please call Bank of China (Malaysia) Berhad at +603-2059 5566 within office hours; or
  • Email: callcenter@bankofchina.com.my