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What is Mortgage Reducing Term Assurance (MRTA)?

April 26, 2017assurance mortgage reducing term

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What is Mortgage Reducing Term Assurance (MRTA)?

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The ING Mortgage Reducing Term Assurance (MRTA) is a policy that pays off the outstanding principal loan in the unfortunate event of death or total permanent disability. The policy would protect your family from the burden of repaying your loan should something happen to you. MRTA is a single premium policy and the premium is payable prior to the loan released.