Wow... insured 1 million... how many percent of our income should one insured?

Oh... I thought there is rule of thumb to insured about 5~10% of one income to insurance...

In my opinion, I think you try to cover too many items.
I think that setting about 10% for insurance is OK, yours might be slightly a bit too much.

For the time being as you are young and have I assume no dependent, why buy 360k life insurance... that is really a bit too much. Remember that that money is leave to your love ones depending on you your beneficiary

As for the Critical Illness, Hospitalisation Benefits and Premium Waiver.... all this rider take up money, based on your need, it is better to reconsider and cancel. RM150 for Room and board may not be enough if you want single room but generally if one is hospitalize, a four bed room or a single unit room is all the same. Besides, even if it exceed, just pay the difference lo, the more important coverage is the 900k annual limit to cover for accident.

When your income increase, and your needs changes, then come back and re-evaluate your coverage and riders.

Actually the topup on room and board means topped up from you own pocket. Not topup to get a better plan
Hospitalization Benefits Rider is not useful unless you really live day by day without any saving and you have kid that need the money when you are hospitalize and not working...

Getting RM50 /RM100 when you are hospitalize.... you seriously want to "earn" such money and pay much premium
Again, always consider if this and that happen, do you have enough to cover, if need to topup, is it in your comfort zone? Purchase insurance to cover emergency (example, surgery, tumour, accident) not to cover those menial cuts and bruise and get back money.

Actually it all boils down to you or your dependent needs and your budget. As money is always the constraint, we want to cover as much as possible within our budget. So topup medical card is feasible but currently may not be within your budget, you can always review/change your plan along the way, as a matter of fact, one should review their insurance very few years, to check if the coverage is still in line with your life style and product being offered. Your units in the insurance can always be manipulate by yourself to achieve your life goal, remember that

Example: 5 years ago medical card only offers lifetime limit of 40k with a premium of RM150, but look at the products offer now, 40k lifetime limit is a joke. So if one review its medical card, he can change the units to be upgraded into the new plan accordingly or in worst case scenario, sell the units and buy new plan.

The correct thinking is not to buy an expensive house and live forever in it, but buy a suitable one, live in it, and upgrade based on your needs and budget when the time is right.

Oh.. and one more reminder, the premium all those insurance agents quote, in most of the time not able to cover you till the intended ages. The agents can only generate 20 or 30 years of prediction anyhow. So if you know how the ILP products works, you may need to topup from time to time and always check the units available in your account every few years and tally with their insurance charges to see if the projection is in line. You don't want a rude shock one day in your 60's to find out that your medical card lapse because no more money in the account despite coverage is till 80 years old...

There is a few way to terminate, for ILP product, you may even get back some return on your premiums.
The other way is that you just left it idle and it will eventually lapse
Last, the insurance reach maturity and you get back part of your cash value but it is unlikely.

The main consequences is that you dad are NO longer insured once a policies terminated.

At this age group, insurance will not be cheap. It also depends on the riders you choose, Duration of the insurance... till 80, till 90... The premium increase exponentially especially in the late 60 till end...