I believe your friend is advising you to buy term. If you are looking for cheapest initial startup premium for life protection, in Great Eastern, Investment link can provide higher protection than term with same premium.

An insurance agent that only looking at commission will not last long in this industry as this industry required a person with passion and love toward what he is doing by helping others. I've been seeing a lot of agent who only prioritize commission left the industry after a year or so.

If you think your agent is good, try to refer some of your friend to him. He will appreciate you

Just want to understand something... your friend is a senior person, or junior staff? like fresh grad or already working for at least 5 years?

insure until 45 only? maybe you really can la.  I'm thinking that if say... after 45, you do have those passive income, then maybe even if your kids are still young, somehow it's ok. so i'm thinking about what if you are not around and those passive income disappears as well. anyway, if you know what are you doing then i shouldn't butt in too much. i'm guessing you are missing out on certain details. maybe it makes sense in your case. it really doesn't make sense to me say especially most people at 45 later on, their kids are still in school or very likely approaching uni

assuming a salaried employee with reasonable amount of increment each year, us normal people probably won't have those passive income later.

you won't disturb any rice bowl here la. You won't be the only person who has a friend working for some insurance company as an actuary or something. at the end of the day, those big insurance companies like GE, Pru, AIA are selling more ILP than not. it's like their core business...

commission is pretty much goes according to a scale (after all, bank negara provides guidelines on the max comm the companies can pay). if you really want to pay less commission, buying through bank it's better, cause bank sales staff gets less commission than agent staff... supposedly less la.

There WILL be such a thing.

This will be under Life Insurance and Family Takaful Framework

The idea is to have commission-free pure protection products sold via direct channel. Those are who are more financial savvy and can manage their own insurance without being serviced by an agent can go via this route in future. However, when this can really happen is still an unknown.

Here’s a piece of news by The Edge which will give a summary on this framework. Obviously the agents are not gonna be too please.

The Edge

Example:
John Doe has a Life insurance, PA, and travel PA coverage. He travels very frequently due to the nature of his job. One day he travels to Hong Kong and met with an accident that so unfortunately took his life. John passed away on scene.

This is what follows:
1. Travel PA pays for the repatriation of his remains, and 100% of sum assured.
2. His personal PA also pays 100%.
3. His life insurance also pays 100%.
These payments will be directed to the names that appear as nominees in each respective policy, in the percentage as dictated by John when he first incepted the policies.
If there are no nominees, these payments will go under his assets and be distributed according to his will.
If John Doe doesn't have a will, it will be handed over to the gov to be distributed to his family members according to the law regarding inheritance (can be quite a hassle).

The joker really getting more interesting. Priority for warga emas and jabatan kebajikan... 

You are not so right on reimbursement by 1 party only. Hypothetically, if i have 2 medical card... Medical card A has limit 10k. Medical card b pays anything above 10k up to 100k. If your bill is 80k, you get 10k from A, 70k from B.

Medical insurance claims pay you back as to put you in a no-loss situation, so will cover you that 80k, no more than that

In an ideal world, yes, one can get medical card when she does not have medical benefit. That will save you alot of premium. In the real world, when we get older, we get funny things like diabetes, high blood pressure  and insurance company may not accept us.

Say i'm 23 right now and working with medical card. It's quite an extreme example if say i dont buy any medical insurance until i retire. One can either get it after 40 (maybe) or stay healthy or get a medical insurance with high deductible that has option to reduce deductible.