MRTA for Car Loan?

This morning, my master's friend asked him about MRTA for car loan. He said his banker asking to buy the MRTA, so that when he died, the bank will not seized his car.

So, my master called Mr LL and informed him that he never dealt with the MRTA for car loan. But, Mr LL will ask his colleagues about that.

My master also asked Mr LL about his insurance NCD refund which is due by this month. Mr LL said that the cheque is ready, waiting signature from his boss.