We never know due to both variables.
1. Variable in term of COI - medical COI tends to rise over the years, due to inflation, population aging, newer medical equipment/treatment etc.

2. Variable in unit trust return. Investment link is actually investing in unit trust only, not something sophisticated to understand that unit trust return vary due to market condition. Bare in mind, the unit trust may actually yield a loss instead of gain, which may result a shorten duration of ILP or else insurance company needs to raise the ILP premium.
ILP premium is never guaranteed to be fix throughout.

Insurance company generally has a projection based on previous record of COI increment and unit trust return, that give a projection to ILP client that one can refer to, but it is never guaranteed.

As what cherroy pointed out.

These 2 variable will make it hard to determine the future COI as well as how much premium you should contribute now in order to make sure that it 100% can last through >80 yrs old.

You may always try to stand by some extra buffer on top of what you’re paying for your insurance premium at the moment for the future if you are worried that your cash value within your insurance policy may not sustain until the age that you’re targeting to last until.

When a quotation is created the COI numbers will be created. But this figure can change in the future due to unaccounted higher than calculated inflation. Once you stop paying at age 65, if enough slack (extra premium) is paid during your younger years, you may be able to stop paying at 65 and the savings can cover the COI

This all depends on how the insurance is set up.

Generally, insurance is a consumable product hence it should be burned off one.

No, one may not need to pay insurance until one died.
As there are some insurance that may not need once reaching certain age or condition.

eg. Life insurance
Generally you do not need it once no longer generate income or breadwinner of the family.

Medical
After average lifespan of 70/75+, medical insurance or COI for medical will be extraordinary high, it may not make sense for having one, especially for low and middle class people that no longer generate income and not having large amount of retirement fund.
As the extra-ordinary high premium may not affordable to those people and affecting their financially greatly.
Even the huge medical cost is covered, he/she may not have extra money to cover the rest expenses and continue their further life.
Life is cruel and insurance is not charity organisation.

This is precisely the reason why, for me, after 10+ years paying for an ILP, GE advised me to up my premium payment for a whopping 26%. Had I understand this earlier, I could have gone for a term medical insurance.

Not necessary, you did get to enjoy other insurance benefits besides hospitalization benefit alone.

Having said that, I’m sure the premium that you’ve paid had helped you to buffer some of the increasing cost for a period of time although I’m not sure how your insurance policy was structured by your insurance agent.

choose your insurance policy & agent wisely.

if thats the case, it doesn't make sense to get external insurance at all ? Because I notice its so hard to claim from private insurance when we compare to company insurance. Most disease only comes after age of 65+, by statically .

If I have a linked policy, I think I would move most of the fund to investment. And move those medical when I grow old. Is that possible?

This post has been edited by soules83: Apr 23 2019, 02:42 PM

That's why medical insurance premium is cheap when you are 18, and become expensive when 60.

Insurance companies have done statistics extensively and employ sophisticated computer algorithm to calculate those probability in the first place.
Insurance companies exist as same as bank, or private companies, they exist because of profit.

But policy owners are not at a loss as well, as joining in the pool of fund of insurance, means if unfortunate strike, then they get the compensation from insurance.

As mentioned, insurance is consumable, please do not have a mindset that try to "win" against insurance, nor try to calculate whether it is "worth" or not.

Yeah you are right, but I was uncertain....as a lot of insurance agent promo it like its a secure for our old age....but now it defy my original understanding which is to buy at early age to secure us when we grow old.

So, just another question. If I bought insurance at early phase will the premium stay the same across my lifetime until old? Or it growth over time which will burn out our COI?

Heh. Consumers should go in with the mindset of buying an insurance with the hopes of not wanting to use it at all. Hopefully.

you will definitely need medical support when you get old. I would said invest in reduce old age illness would be a better choice.

Unless you can guarantee yourself not to get sick or dead before you’re old to buy your insurance, you wish you had insurance so you’re covered for things which are not pre-existing (illness).

Like cherroy says, you don’t want to try to “win” against insurance.

If you’ve read my post earlier, it already answers your question. Medical cost is the key component that is the costliest. Your insurance cash value exhaust because of its increasing cost.

Haha then when get into accident in a car / house on fire / lying in bed, thank their lucky star they had insurance, when happy go lucky that time, say waste money.

You buy medical cards as per all insurances. As a backup. While having a coverage all the way to 100 years is important, anything beyond that is just... unnecessary expenses. Nowadays, to increase sales, companies are pushing legacy insurance.

All medical insurance premium rise together with age one, disregard you first bought when you are 1 yo, or 30.
The difference is the pre-existing illness exclusion, if bought it early.

No such thing you buy early, then you pay cheaper at old age or premium remain the same.

Insurance companies will close shop, if there is a medical insurance premium stays the same across lifetime.

2 suggestions:
i. Check the ILP projection table in your policy against actual cash value every year. Your birthday is a good and easy date to set as reminder - you may top up lump sum every 3-5 years if the actual vs projection cash value runs too far (cons: lump sum investment front loading charge)
ii. As you age, slowly move Equity->Bond allocation by 5% every 5 years to ensure less volatility in cash value (cons: lower rate of return as you progress)

Hey thanks bro. I think I could look into your suggestions.

Got it, I think some insurance agent didn't cover this part clearly. Thanks for the heads up.

Thanks. age 65 just my guessing, I just trying calculate all the possible risk. Of coz that include taking care of my own health to reduce the risk of dependency on insurance.

Isnt it whole life insurance cater for this where premium stays the same for the lifetime? Of coz consumer need to pay quite a high premium upfront for the first many many years.

Here got any AIA sifus?

there are many but a quick find, found one in page 3....
look at the signature* of the forumer
(the little sentence they posted at the end of their posting)

It's depending on what kind of plan you get, the premium you pay and the rider you having.