Mortgage Reducing Term Takaful
What is Takaful?
Takaful is a concept of mutual guarantee which is in compliance with Shariah principles. Contributions collected from participants are pooled together to provide for the benefits in the event of losses suffered by any of its members or participants. Hong Leong MSIG Takaful (HLM Takaful) as a Takaful operator is entrusted to properly invest and manage this mutual fund.
In the event of Death or Total Permanent Disability (TPD) of the houseowner, you and your family members may have to continue servicing the outstanding financing of the house. With HLM Takaful-MRTT plan, the financial burden arising from this Death or TPD is covered on a long term basis.
What is HLM Takaful's Mortgage Reducing Term Takaful (HLM Takaful-MRTT) plan?