About Mortgage Level Term Assurance
What is Mortgage Level Term Assurance?
Mortgage Level Term Assurance is a single premium non-participating plan which provides death and Total
and Permanent Disability (TPD) coverage. In the event of death or if you, as a borrower, suffer from
TPD during the coverage period, the sum assured will be payable to AmBank (M) Berhad (“Policy
Owner”) to offset against the outstanding mortgage loan. Benefit in excess of liability to the Policy Owner, if
any, will be payable to Life Assured. If there is no surviving Life Assured, the benefit will be payable to the
nominee.
If Refund of Premium option is selected, the single premium paid excluding any premium loading, will
be refunded to the Life Assured at maturity.
Who is eligible?
Mortgage Level Term Assurance is available to individuals aged from age 18 years to 65 years (next
birthday) only.
Key Benefits
Death Benefit Assurance
Upon death of the Life Assured, 100% of sum assured is payable in one lump sum. Once
the Death Benefit has been paid, the Certificate of Assurance (“Certificate”) will be terminated and have
no further value.
Total and Permanent Disability (TPD)
Upon TPD of the Life Assured, 100% of sum assured is
payable in one lump sum.
Maturity Benefit
The single premium paid excluding any premium loading, will be refunded at maturity if no claims were made during the coverage term.
Learn More
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