MRTA or Life Policy

I learn something today bout MRTA and MLTA. I am still deciding where do I get my MRTA and after meeting up with my my agent today I found out that I have other choices to opt for. For one, he suggested for me to get another Life policy to cover the house loan if anything happens to me. I just realized that the sum that I paid for the MRTA will be burn if I refinance in the future and will required to be bought again. And after the whole 20 or 30 years of the tenure, the money will be burn too. And I need to pay upfront one lump sum of money for the MRTA.

As for the Life policy, I will just need to pay the installment each month. There is also a money back gurantee at the end of the day and even early withdrawal if I need cash. If nothing happen to me I will get one lump sum of money after 30 years. And I do not need to worry if I do any refinance or selling of the house as I am always covered. Plus by getting a policy I can get addtional coverage such as TPD and Critical Illness. Whereas MRTA do not cover any critical illness at all. Another benefit of getting a policy. Still weighing both the options I had.