AIA Malaysia

Credit Life Insurance

Credit Life Insurance

AIA Corporate Solutions Department (CSD) provides specialised consultancy and product solutions to protect both the consumers' and lending organisations' interests by insuring current and future credit obligations. This includes mortgage, hire purchase, credit cards, personal loans from Financial Institutions to other more lifestyle based obligations such as tuition protection, utility bill payments and subscriptions. Products are customised to suit each client's requirements to ensure the objectives and interests of all parties are achieved.

You may also browse through our range of products by clicking on the link below

Credit Insurance Solutions

Credit Life Insurance

Buying a house is a milestone in one’s lifetime. But we believe that one should look beyond the present and protect the future as well.

We offer a range of products to protect your home and family against unforeseen events.

The products are as follows :

  • Mortgage Reducing/Level Term Assurance (MRTA/MLTA)
  • Mortgage Reducing/Level Term Assurance with Critical Illness (MRTA–CI/MLTA-CI)
  • Overdraft Term Life Assurance (ODLA)
  • Overdraft Term Life Assurance With Critical Illness (ODLA-CI)
  • Auto Credit Protection (ACP)
  • Creditor Term Life Assurance (CTLA)
  • Credit Card Cover/ Assurance (CCA)
  • Education Loan Assurance (ELA)
  • Unit Trust Assurance (UTA)

Mortgage Reducing Term Assurance (MRTA)

1. Do I really need MRTA coverage?
Yes, the AIA MRTA Plan is designed to settle any outstanding mortgage balance should untoward incidents like death or total permanent disability happen. Therefore, your family and your home will be securely protected.

2. What is the difference between MRTA and Life Insurance Plans?
Currently, life insurance plans in the market do not specifically cover your progressively reducing outstanding mortgage balance. Instead, they work on fixed amounts of coverage. The MRTA Plan is designed to handle the reducing mortgage balance, thereby helping you save on the premiums. However, this is only applicable to mortgage loans.

3. Will the MRTA premium increase my loan repayment?
Yes, but only a little. In most cases, the single premium payment is added to the loan and amortized over the loan tenure period. You will hardly notice the difference.

4. What are the application procedures?
Simple. Just complete the application form and send it to AIA Corporate Solutions Department for coverage processing. Alternatively, you may deal directly with your respective financial institutions which offering you the mortgage loan facility.

5. When does my protection start?
When your application is approved, a confirmation letter plus a request for payment will be sent to you by AIA. Protection is effective upon receipt of your payment.

6. How do I make a claim?
Once AIA accepts and approves your claim, the insurance proceeds will be paid directly to the financial institution to offset the outstanding mortgage loan