My cousin currently wanted to buy an insurance. Already having SSPN-I from takalful, 20k D, TPD, up to 64 y.o.

So he went and ask one from etiqa.
25, male, non smoker, student
insured 500000, rider crit ill 300000.
Annual 3100 myr.

sustainability option chosen 30 years. policy term 75 years.

he wish to get pure term insurance only. But since the investment linked insurance able to let him get back some premium at the option chosen year, he consider on taking it.
any thought?

Question-
when can we actually wish to review the policy and make a change? does the change cost extra?

any input is appreciated.

does that mean nowadays all the invest link are far better then term? because I trust my investment rather then the fund they given. the fund that they given (even for a very stable fund that give the same return as FD, have SC of 1%) have charges, most of the bond fund which may perform better then the fund provided (I revised the fact sheet and compare the chart to common bond fund in 3, 5, 10 years perf) and at no service charge. On the other hand, the equity fund provided often perform below par and having high service charges.

may I know what is

sustainability?
match the additional premium?
COI?
Cash value?

First of all thanks for the clarification. Many jargon are being used in the reply thus I am asking question instead of taking things out of context just to prove my point. I re read my post and there isn't any.

Now I finally get the picture as a whole on what is the word "sustainability" that can affecting a life policy.

the question of 3100 vs 1500, however, I still cant figure it out based on the scenario you given. Isn't the 3100 is fixed? Why there is 1500? Where did this number come from? And I think people choose sustainability option is because they don't want the policy to drag that long? thus the point to continue the policy isn't there? If one need the policy to be life, its a no brainer to take it up to 100 y.o with a fixed premium thru out the policy years?

For ILP, if one doesn't mind to pay premium up to the chosen sustainability year, is the cash value in the account will still accumulate instead of the common "pay 10 year get 20 years" thing? As all this is actually taking the cash from what you contributed? Many people I think they miss this. And many agent doesn't even bother to explain this.

And regarding investment link, I myself faced the problem once. Still remember the 07/08 crisis? Yea, during that time my education policy is still running. They sent a letter to my parent mentioned that crisis cause their fund performance drop and expected the dividend to be low. That time my parent wasn't know how the thing is going behind the scene, they have no knowledge of investment and insurance. NAV, total return, dividend all are very bombastic thing to them. They don't know that NAV is actually more important then dividend pay-out as dividend is nothing when in unit trust, or something that fluctuate. Thus, the NAV drop, partial of the premium paid were gone due to bad market and over 20 years, we got exactly the same amount how much premium we paid with extra around 1000 MYR? Isn't that sound really bad to you guys? We earn nothing besides the saving. But the agent that time inform nothing, said nothing. I asked my parent and only got to know the agent they met is part timer..... And the fund they invest in is sort of stable fund? The return shall around 4-6% p.a. I don't know what is actually happening but this got struck me a lot.

And the point you had that regarding commission..... Majority I got the feedback is this, actually. How many out there are really committed to their job and being honest?

I really appreciated all the input you guys made.

Thanks!

I still cant get it where you got the 1500 from. For an ILP, how can the agent simply change the figure when its ficed amount of premium? They have their own policy too. As far as I concern, I the total allocated premium is 100% into the fund commencing year 5. toward they end. I am with the agent that time together with my cousin. I see the computer, the excel sheet was programmed accordingly. There no way to input any other thing except Sum assured and rider in which CI in this case.

And the premium is fixed. Why is it the premium will increase when COI and NAV drop when in the duration of chosen sustainability years?

My point is that is ILP the new trend nowadays? Because every insurance agency promoting ILP life no tomorrow. I have no objection on what the promote. What I don't like is that most of them don't bother to explain clearly on the T and C...

Is non-ILP have cash value too? Agent told me no. I doubt.

Honestly speaking, what do you think the offer from etiqa person?

Thanks for your reply. Indeed clearly without all those jargon.
Yea, as a investor its better to know the market. But as a investor too, when I look back all the fund sheet etc etc they have, they perform real bad. Not to mentioned the SC! And the scenario they gave in the table (I had the quotation and all tables) always projected at 6% for a bond fund, 8 to 10% for the EQ. But infact, in the charts, they wont even barely touch the % given. For bond fund, 1%SC, hovering around 3%, -1% its 2%. FD better than this?

But that doesn't matter as buying Insurance is for protection, not investment. Correct but when the full amount of premium gone in to the fund...... that's the other way round.
Do you actually tell that statement right into your customer face?
For the love of God.

This post has been edited by [Ancient]-XinG-: Jan 11 2019, 10:14 AM

300 permonth can insure 500k with 300k CI already nowadays.

Edit. Sorry. 41 maybe way higher.

This post has been edited by [Ancient]-XinG-: Feb 26 2019, 02:41 PM

Sorry. I only got to know you're 41. So. Can be way more than 300.

So as gov servant. They have privileged to get free medical services from gov hospital.

Even IJN services is covered.

Expt. Lenses, valve etc etc. But at discount. I think for now they only need to pay "hardware" but not "software"

Do you think CI is acceptable for them or redundant?

is Fully Paid Patient (FPP) in Gov Hospital can be claimable as the same process in Private?

got another plan is yearly premium 3k can covered 500k and 300k CI. its an ILP.

But yea, like you said, term is better choice. Now agent keep pushing for ILP and term less people talk about it.

Term Life Premium will be lower than ILP I suppose?

But does it have account value, at least we get back what we paid at the end of sustainability year?

And I am rather surprising that most, not all insurance are end at 100 y.o. (this is never a good idea)

This post has been edited by [Ancient]-XinG-: Feb 28 2019, 02:30 PM

Good point. But I disagree on the opportunity part.
I not really understand what's the opportunity here.
I think it's sound bad if you get money only sometHing bad happen. Should we rephrase it with protection or prevention?

One should know what they buy. This is the most important. Many people tend to rely on agent but agent betrayed them. Agent only tell what the best for them, not client. Well some agent is good but majority are part timer. Not permanent life planner. I think insurance agencies should ban part timer. They know nuts. Ask them question also say this is best for you.
Go fly kite.

And how one is over insured? Is it >10% of the yearly income?

This post has been edited by [Ancient]-XinG-: Feb 28 2019, 03:49 PM

Haha. Lucky now mysalam or whatever is here to help the b40.

Etiqa maybank.

D/TPD 500K to 600K
CI 300k


Around 260 280 including waive of premium.

It's ILP tho


Based on what agent told me and just suggestions.

macam hilang liao owh

How old are you?

Suggest go multiple quotation.

ILP if young.

Go for it! Rmb protection not investment.

If the agent mouth split the package as investment driven, go for another. He is not good planner.

A good planner will ask your job your concern your previous policy your expectations first.

And will explained to you what happens if specific scenario happen etc

No when how much you will earn after X years.

Jangan boy.

Great Cherish 80 is there.