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Difference between MRTA & MLTA
MRTA – Mortgage Reducing Term Assurance.
Normally can be purchased from any banks, if you are thinking of protecting your asset against death and total permanent disability. Get advice from your banker as they will provide MRTA loan on top of your housing loan to cover your purchase.
Now, in layman terms, MRTA has a reducing premium over time thus, as you pay your loan, the amount you owe the bank would reduce and the amount you need to be insured for would also reduce. Hence it is an expense item for your personal profit and loss as you don’t get a single cent out of it.

MLTA - Mortgage Level Term Assurance. Can be purchased from Insurance broker / agent.
MLTA is an asset as you get your money back and probably with higher
interest than what a bank would give.

MLTA
Flexi Insurance
Level Protection
Low Initial Premium
Tax Relief Up To Rm6000
Cash Return (Asset)
Transferrable
Death/TPD/Critical Illness + Premium Waiver
Level Premium

MRTA
Term Insurance
Reducing Protection
High Initial Premium
No Tax Relief
No Cash Return (Expense)
Not Transferrable
Death & Tpd Only
Higher Premium if financed by bank as it tied up with BLR.