GENERAL INSURANCE
Our General insurance covers a wide range of services which includes car insurance (motor insurance) and fire insurance.
MORTGAGE INSURANCE
Purchasing a house is a gigantic responsibility and will take the normal mortgage holder as long as 35 years to completely repay the loan. Consequently, you should be protecting this investment even when you are no longer around to complete the payment due to any unforeseen circumstances or unanticipated conditions.
Mortgage Insurance is designed to take care of the outstanding loan balance in the event that the borrower dies or suffers from total and permanent disability (TPD) before the loan is completely paid off.
Here in My Wealth Capital, we represent Great Eastern Life Assurance and Great Eastern Takaful for Mortgage Insurance (MRTA/MRTT).
WHICH ONE SHOULD I GO FOR?
Mortgage Reducing Term Assurance (MRTA) /Mortagage Reducing Term Takaful (MRTT)
The premium of this insurance is dependent on the sum assured and the tenure of coverage, as well as other factors pertinent to life insurances (e.g. age, gender). Customers can choose the tenure and sum assured, and the premium is settled in advance.
Mortgage Increasing Term Assurance (MITA) / Mortgage Increasing Term Takaful (MITT)
MITA/MITT are not typically packages as an option together with the loan, but must be taken up separately with 3rd party insurance providers. Premiums are higher than MRTA/MRTT, and are paid on monthly, quarterly, half yearly, or yearly basis. MITA/MITT policies are transferable to other properties. As such the policies can be used to insure new property loans, or when you refinance the property. Borrowers can adjust the sum assured as required without having to prove your health/age again.
Confused by the choices? FEAR NOT, our dedicated and experienced team of consultants will guide you through the process and explain plainly which is best suitable for you.
Contact us to schedule a free consultation session.
| MRTA/MRTT | MITA/MITT | |
|---|---|---|
|
Purpose |
Protection |
Protection, saving and cash value |
|
Protection |
Sum insured reduce according to loan tenure |
Sum insured remains the same on a fixed level sum assured basis |
|
Transferable |
No |
Yes |
|
Nomination |
Beneficiary is bank |
Beneficiary can be anyone |
|
Financing |
Usually financed into home loan |
Usually self-financed |
|
Payment |
Lump sum |
Periodic (monthly, quarterly, semi-annually or annually) |
|
Premium |
Low |
High |
|
Cash value |
No. It has a reducing cash value, which drops to RM0 at the end of the loan tenure |
Yes. It has a fixed cash value (guaranteed) throughout the loan tenure |
|
Claim |
Insurance company will pay the loan balance to the bank & beneficiary will receive the home |
Insurance company will pay the loan balance to the bank & beneficiary will receive the home plus cash |
PARTNERSHIP
We are partnering with several bank in Malaysia to get the fastest response and highest approval rate for our customers.
In Mortgage Insurance (MiTA/MiTT) services, we are partnering with Great Eastern Life Assurance and Great Eastern Takaful. We are recognised as a Million Dollar Agency for the past few years in Great Eastern, with a huge customer base.
We are also authorised agents for RHB Insurance and Allianz Insurance, to provide General Insurance services such as car insurance and fire insurance.
We provide our professional advice to assist our customers to get the best deal when they are buying a new house, remortgaging or refinancing.
OUR TEAM IS HERE TO HELP
My Wealth Capital Sdn Bhd is providing Housing Loan, Business/SME Loan, Refinance/Remortgage, Debt Consolidation, Mortgage Insurance and Asset Planning services by our dedicated team.
Our Mortgage loans services inclusive of all types of purchases, whether is residential property or commercial property, new project or sub sales. Experienced consultant provide mortgage loan services with professional advice. One step closer to your dream house.
QUICK LINKS
GET IN TOUCH
Address : 22A, Jalan Puteri 2/5, Bandar Puteri, 47100 Puchong, Selangor
Email : mywealthcapital@gmail.com
Phone Number : 018-906 8088