The reason why I bought ILP for my children at age 2-3..

1)  you can have various coverage (ie. payor benefits) all lump into this policy. 

2)  medical coverage is much cheaper than that buying a standalone card, if you calculate the monthly insurance chargews deducte, the total cost of the medical coverage is like 30-40% cheaper than buying a standalone medical card.  Why medical?  Well, things happen so having a medical is important as I have bad experiece with goverment hospital..

3)  I understand that insurance charges increases significantly , but only if someone is after a certain age >30  or >40? i think??  ILP is cheap when someone is young.

4)  I insist on minimum coverage of Life & TPD allowed in this ILP, as a forummer here mention, we don't need money becoz of children's death..  So, by doing this i hope i will get more units at the end of each year.

5)  This ILP allows me to do fund switching 4 times a year, for free...which is good.. As I do follow market's condition.  So, ILP no not really for lazy ppl as claimed?

6)  I may not see any return the first 5-6 years due to insurance charges as well as the % of allocation of my premium into the unit trust..  But If i do aim for 20 years tenure and i do market monitoring and switch funds accordingly... I do think that ILP is ok for a lil bit of saving (be it their wedding gift when time comes, or helps in their education if necessary) and good coverage ..

errr...don't know if i have anymore..

It may be a bad choice, but that's my choice..  Comments are welcome to correct me..in case you are right, then i will have choice to cancel one of them, which i just bought last year ..

1. why not just skip the insurance and go for pure investment products (unit funds, asm/asw/asb, a property somewhere, etc?) + a standalone medical card

i doubt that a standalone medical card with the same amount of coverage will cost more than a ILP medical card...

problem is, all insurance agents i met just say "yes, yes," *nod* *nod* everytime i ask about guarantee renewal in their medical card   

until now havent see a medical card thats not auto renewed....

Hi,
Care to explain what is your definition of "guaranteed renewable"?

My definition is :
1) so long as the insurance co. does not withdraw the plan, I'm allowed to continue up to age xx unless i've used up the lifetime limit
2) Even if i suffered from a particular illness and hospitalized for long period of time, insurance co. should not reject my next renewal, or include new exclusions during renewal
3) I understand that premium can be adjusted, not guaranteed.  But in case of increment is deemed necessary, it should be on portfolio basis, and not on individual policy basis.    There is this fine notes in some policy brochure "The renewal premiums is not guaranteed and the company reserves the right to revise the premium rate applicable at the time of renewal.  Such changes, if any, shall be applicable to ALL POLICYHOLDERS irrespective of their claim experience.....".

Is this the same as yours?
Pls share.

Guarantee Renewable ------ insurer = Life Insurance Company(almost all plan)
Non-
Guarantee Renewable ------ insurer = General Insurance Company [premium cheaper than policy offer by Life Insurance Company]

Policy from Life Insurance Company
Premium fixed --------- saving plan policy(education plan, annuity plan), pure critical illness protection policy, pure Life insurance protection policy, Personal accident policy(Insurer have right to revise premium while life insured change job)
Premium adjusted --------- Hospitalization policy(revise according age)
but anyway please read the policy.
Some company(insurer) allow life insured/policy owner to cancel policy and fully refund within 14days when he/she receive their policy or within 30days from the first day of the policy inforce which ever come first.

* insurer---insurance company
  Life insured ---- person to get protection (Exp: Staff, kids, own)
  Policy Owner ---- person to pay premium (Exp: company--if buy insurance for staff, parent before kids 18yrs old)

Only know how to sell?

But don't know how to answer question?

http://forum.lowyat.net/index.php?showtopi...post&p=41225730

whats a good life insurance for family incase of death. i dont need anything extra for medical as that is already covered.
thanks

^i know that, but it seams theres often with packages etc. i just need a simple plan where incase of death, there is x amount for the family.

the answer is posible ... but any sum assured above RM500k will require a medical examination from panel clinic 

1)My personal point of view a medical card is more important as medical inflation is getting higher & higher each day.
For example i have a customer's son is infected by virus infection and cost him about RM70,000 in total bill for 22days treatment.
Pru medical card is the most accepted in the market . . . we covors about 40% of total individual medical card sold in Malaysia

2)If you are looking for big coverage for PA there is alwaz other alternative or stand alone plan which is much cheaper     

Haha... i think this makes sense...

Claim problem,services..maybe the company is good but from my fren and relatives bad exp I rather avoid it then take this risk