First, would liek to thank you for your feedback.

You are right in saying the premium raises with age, and you are also right that allianz does have some investment linked crap which I dont want. But at the end of the day, I'm looking at a 25 yrs coverage (enuf for the little ones to graduate and kick them out of the house) and around 500~750k assured sum (yes this is not nearly enuf but its incase I croak, i have other plans in place for their education blah blah).

So for a comparison of 25 yrs term coverage @ 500k, I'm getting a monthly of 250/350 from Allianz and 420+ from Uforlife, hence at the end of the day for me as a buyer I'm only concern with the NETT premium I pay.

However, if you look at it from another angle... all things being equal, I do prefer to pay less NOW and pay MORE later as the cost will be more manageable taking into consideration my increase earning potential and inflation.

Don't think this is an apple-to-apple comparison as they are ILP and term plan, both targeting at different
customer segment. 
When you compare with Allianz ILP, of coz the premium you need to pay is cheaper compare
to that of Uforlife. But you need to realize that ILP is Not Guaranteed though you pay the premium
on time (the policy fund value might not be able to sustain as you grow older and you need to top up the
premium amount). Do bear in mind that the fund value amount illustrated is not guaranteed too and highly depending on the actual fund performance in the market.

For term plan offered by UforLife, it is Guaranteed Renewable until the coverage ends.

420+? that's expensive... you should be less than 40 yes? should not be that expensive... smoker? or family history resulting in loading?

aside of allianz... you can look into Great Eastern, which has like a short term ilp. what i do like about GE is despite their Dai Kor status in the industry, their price is usually quite on the cheaper side. but since i haven't done any comparison, maybe allianz could be cheaper.

OR... you can go back to old school term life insurance, depending on which company still offers it. not too long ago, this AIA agent said AIA still sell term life.

some companies still sell a whole life traditional life insurance, which is more expensive than the term life, but still has cash value but no investment kind of factor.

Oh, so this is only pure life insurance, but I found that they actually do have the Critical illness and the PA cover. Btw, what do you mean by term life and the yearly renewable term? Any different from this uforlife and other life insurances?  I just did a quotation at the uforlife official site. Find that it's quite a lot of questions to fill. Currently still considering whether to buy or not. The premium is acceptable, but I am confused with this term life and the yearly renewable term.

Oh, so this is only pure life insurance, but I found that they actually do have the Critical illness and the PA cover. Btw, what do you mean by term life and the yearly renewable term? Any different from this uforlife and other life insurances?  I just did a quotation at the uforlife official site. Find that it's quite a lot of questions to fill. Currently still considering whether to buy or not. The premium is acceptable, but I am confused with this term life and the yearly renewable term.

Hmm... I thought I outlined my requirement... I dont want a policy that goes on perpetually for the next 100 yrs. I buy this JUST incase I croak while I still havent dependent. Byt the time I'm 65 my kids would have graduated, I will nto have any dependent, my wife can keep the houses etc whcih will easily feed her for the next 20 yrs.

Since it is yearly renewable, you can cancel it at any time.

In fact, ILP is perpetual. Though the ILP premium you have to pay now looks flat, it will definitely increase in the future as the insurance charges for basic/rider(s) (this actually reflects  the actual insurance cost not the premium for ILP) are increasing as you grow older and you will need to increase your premium (it could be even more if the performance of the funds selected is not up to expectation).

Actually I am in the mid to sign up for uforlife insurance. I have some sort of trouble while signing up for this insurance.
1. Do I need to do a medical check up before purchase this insurance?
2. Some question - for example - do you have high blood pressure, cholesterol, thyroid problem etc.. in fact, i am not really sure, whether I am infect with this problem.. how should I answer? all NO? what happen, if I have high blood pressure now and I tell them I am not. Will I in trouble?
3. So i got question need help from uforlife, any online help?

Hi for all the sifu here,
Question about this AIA visionlifeplus.

my parent brought an insurance for me when i was small, it is called AIA vision life plus. My parent told me it is a saving plan, the money can be taken out when i need it for education.

we already paid for it for around 17 years, each year is like 800+, but this year when i want to pay for it, i come across this policy anniversary statement which shock me.

The total surrender value is just at around RM7000+ does that mean this is the amount of money that i can get back once i terminate this policy?

is this really a saving plan?

so what is the outcome of calculation?
which are u committing for?

alrdy clarified a few post back, Uforlife actually turns out to be more expensive the longer u have it for. For my 25 year case... Uforlife nearly 25% more exp on average

anybody can help to advise?

Hi for all the sifu here,
Question about this AIA visionlifeplus.

my parent brought an insurance for me when i was small, it is called AIA vision life plus. My parent told me it is a saving plan, the money can be taken out when i need it for education.

we already paid for it for around 17 years, each year is like 800+, but this year when i want to pay for it, i come across this policy anniversary statement which shock me.

The total surrender value is just at around RM7000+ does that mean this is the amount of money that i can get back once i terminate this policy?

is this really a saving plan?

But with annual RM800+, you can't expect much saving/investment return from it. With 17 years normal saving of RM800 yearly will give you RM13600 only.
The policy should have big portion of insurance coverage which eat up most of the premium and the return need to depends on the performance of the company.

Without the policy, we just can't tell what is the content and what really you had bought.

Best solution is refer to your agent or customer service. They will be the best person to answer your query in detail.

as I know if there is investment link or savings plan in the policy, normally the ratio for it is not big..could be like 7:3 or 8:2 hence whn u want to take the money it does not have a huge amount as u expected
anyway just check back with ur agent for better understanding

Hi,

I'm not AIA agent but Great Eastern agent, yes, you can cancel the H&S and HB benefits. You may also ask your new agent to help out for this. Usually agent are able to help you run the errand for all the insurance companies.
Hi,

Can you request AIA to provide the sales illustration?

i gave my agent a call. he said i can get back cash value + dividend. but to know the cash value i have to refer to a table found in my policy booklet which i dont understand at all.. i  guess i will have to give AIA a call ( with multiple of 20mins + waiting time on the phone... wth)
huh? what does that mean? something like a table?

Yes for something like Uforlife I can cancel anytime. Hence I calculate both plans for 25 years, and took the average cost for Uforlife (since it's a yearly increasing premium) and compare.

You should also take Time Value of Money into consideration. RM300 twenty years later is not as valuable as RM300 in today's money.

Compute the present value (PV) of the premium. Use a discount factor of say 8%. If the policy has cash value at the end of the term, calculate its PV too, and deduct it from the PV of the premium.

Question: If i pay half yearly for GE ILP Medical plan, when can i get the statement for income tax purpose? Next year?

EDIT: Why i ask? Because i want to know the actual amount for tax relief.

I am sort of new to the working society. Is it necessary to buy medical insurance? I am 26 yr old.

What about life insurance? Is it better off to opt for life insurance rather than term insurance?