Okay, I have two plan.

Plan A
Get myself a Standalone MC first, premium is not that high at my age now, but also I aware that the premium will goes up after years. Plus, I also get myself another tradition life insurance, paying same premium while protection and cash value keeping increase. Let's say, when i was 40 years old, annual premium for my MC is 1000 (just an example), that's means every month I just have to pay RM83. So, RM83(MC) + RM70(Tradition life insurance) = RM153. If plus PA and etc. also just another few ten ringgit.

Plan B
Get myself a ILP, start with RM150/month now. After years, I think most agent will ask client to top-up to increase the protection and maintain the cash value. In the age of 40, maybe I have to pay RM300 to get what protection I have compare with Plan A (RM153).

Any comment or opinion from anyone here? especially insurance agent.

1)Is that true if I start my insurance plan early at now, when i still in university, so that my premium for life will lower & return guarantee (I refet to traditional life) compare with ILP?

2)In case, if I did not top-up or due to budget restrict, just top-up a little bit, at the end of the day, my cash value is 0?

3)The disadvantage of standalone MC is if I was admitted to hospital, later when comes to renew my policies will have more problem. Worse will lost my MC?

4)After looking on both plan, does Plan A really works?

5)Is there anythings that ILP have but the Tradition life or Standalone can't gave to us?

6)And then, seen insurance agent could get more commission from selling Tradition and Standalone insurance comapre with ILP, why most of them still advice client to buy ILP instead of Traditional and Standalone insurance plan? It's ILP really good at overall?



This post has been edited by Eddy924: May 13 2012, 06:38 PM