+1

Very good explanation.

For the claim part, I would said it really case to case basis, whether the documents are complete during submission of claim or they is some dispute in between. I could said most the insurance company have their SLA and everything is in the policy. Maybe you be surprise, customer may claim faster then agent, this is because company put customers in priority then agent.

Of cause is not advisable to surrender a policy. But what if the previous policy is really not enough and too many limitation & exclusion?
Sometime you be surprise when you review your policy to current available policy in the market. Such as a policy from P company I see before, for monthly premium of RM200 for age 20+, the Medical annual limit is RM50k, worst the lifetime limit is only RM150k.

Cost of insurance will increase over the time due to age, inflation and increase of medical cost. And whether to revise is base on the insurance company itself.

Yes, the 150k lifetime limit policy is years ago and never upgrade till now.

Seen you have Policy with Prudential, you need to have deep consideration before change to another company.

Agent serve as giving advise & support with all the pros & cons for the policy, the decision maker are the policy holder. And agent will respect client decision.

We all understand, it is important to get enough/reasonable medical insurance while we still young and healthy. Once we diagnose with anything, that is it, we gonna stick with current policy for rest of life.

Yes, it is common people change to other company better policy. But personally, I will advise you to get more info & advise before you surrender your current policy.

Hope you understand the different between term insurance and investment link.

Unless you plan only to get medical plan for maybe 5-10 years or less, then term insurance will be the best option (such as company only cover till 60 or retire)

Your parent could live till 90, understand medical insurance increase by age due to higher risk. The premium may cost 3-5 times expensive then during age 50. Then you might complain insurance cost not reasonable & too expensive to continue.

Investment link premium might be higher, but it will help to offset the increase of insurance cost in future.