What are the differences between Mortgage Reducing Term Assurance (MRTA), Overdraft Term Level Assurance (ODLTA) and Mortgage Level Term Assurance (MLTA) insurance? Which is better for my needs? Does it make a difference if the property is for my own stay or for investment purposes?

Updated: Oct 21, 2018

As part of property ownership, you need to consider asset risks planning if you buy your property with financing should anything unfortunate happen.

We discuss a few options for protecting your property assets, and provide guidelines on pros, cons, tips, costs, and how much coverage is needed.

 

Why the need for property asset risk planning?

Being a wise property owner, you will want to manage asset risk planning to make sure unfortunate events i.e. becomes incapacitated or passing away have minimal impact on you and your loved ones.

Property Asset Risks

  • Losing the home you and your family live in.
  • Losing your property to the bank or forced to auction off your property.
  • Forced to sell your property at a loss.

 

MRTA: Mortgage Reducing Term Assurance