Woo..this topic seems very hot....
Let me do some clarify, the RM2250 p/a is include guarantee and non-guarantee portion. RM1125 guarantee + RM1125 non-guarantee.
The guarantee dividend as follows:
1. From 5th to 8th years - RM625 p/a
2. From 9th to 20th years - RMRM875 p/a
3. From 21th to maturity (75y/o) - RM1125 p/a

Others benefit:
1. 25% funeral expenses of sum insured
2. Accident death/ TPD - Double of sum insured (2x Sum Insured)
3. Accident death/ TPD happened at public transport or public building 0 Triple of sum insured (3x Sum Insured)
4. Additional sum insured:
From 8th to 15th years - 10% sum insured increase
From 16th to maturity - 20% sum insured increase

Hope this info will help you in decision making. If you want to know more, pls do not hesitate to contact me....cheers...

Oh Hi, finally one ING agent came into talk to clarify things up, thanks

Rm2250p/a is already not much, and there is still non-guarantee properties included. This doesn't seems very well worth to me.
If I'd used the money to build a business, if (not to say successful but) normal, most probably I can get return of RM2000+ monthly after 5 years for that business.

Regarding to the 'other benefit', The agent had told me 1 2 and 3, but I didn't know 4.

Simon gives good advice Kent and yes if your aim for that money is purely for investment then insurance purely for the savings is not for you.

I think it is important to draw a line between investment/savings VS Insurance.

**For those who doesn't really understand insurance/ILP

For Insurance
The main priority on Investments/Savings should be to help you to cover your premium(insurance charges) at later age.

If you are paying RM2000/annually @ age 28. Once you reach till age 55 and above the RM2000 is not sufficient to cover your insurance charges.

Example at age 60,
Your insurance charges totaled up become RM 2400/annually.
But you are only paying RM 2000, where the 400 comes from?
400 will then come from your returns from investment.
Because of that, you WILL NOT receive a letter from insurance company requesting you to top up RM400.

Definitely you won't want to be asked to pay more once you are old age, and you will definitely be angry and asking "Why the heck so old still need to pay higher".

If your Returns of Invesment(cash value) is high, you probably only need to pay for 30 years and stop it. The premium will then be paid by using your cash values.

That's how your insurance agent will need to carefully plan for you.

*Do take note that insurance company reserve the right to increase the insurance charges in the future. (rising cost etc)

Drafting a plan that can give you a balance in protection and cash value is also important, especially for the additional plan I am going to take in addition to what I already have. Since I may want to terminate it once it serves the purpose I subscribed it then, (example a life insurance for house - MLTA), and I shall get back a fair returns and if I opt to continue it, I have sufficient cash value to help me go through the later years without needing to pay or at least top up)

Cheers...

My 2 cents

This post has been edited by davidlow7: Jun 28 2012, 11:39 AM

My advise, you should insure on 36 critical illness plan for the income protection cause now is the golden age for you. If anything happen, you will get a huge lump sump....always plan for the basic needs first then only investment...this is my own opinion la...hehehe....

Yes bro, I do very very concern over the bolded point.
One of my friend's parents are suffering from this. I don't know the exact situation, but it was something like, 20 years ago, the insurance agent promise that the plan works perfectly and you only have to pay the premium over 20 years, something very similar to the saving plan I purpose on first post, but theirs was a life insurance plan. After 20 years, they will no need to pay the premium anymore and the money invested will earn interest to cover the premium fees.
However, until today which passed 30 years, they still had to pay the premium every year due to policy and law changes. What is promised is not working.


Thanks, I already got insured myself on critical illness plan, but it was only protection, no saving or investment.
Meaning if I surrender the plan now, all the money invested will Burnt off~ No more