Hi, i received a letter from my insurance company saying that there will be a change of contribution due to age factor. They will increase it. Is this something that they can actually do? Its my fault that i didnt ask my agent last time on this matter but i did read last time that the contribution will be fix until the end of contract

I read my cert just now to re confirm but i could not find anything related to the change of contribution due to age factor. Anyone can help me on this?

Mine without investment as i put my investment in somewhere else. But i did read that the price will fix until certain age where the contract expired. Around 60 iirc.

I should have known. This makes me want to change insurance plan to something more cheaper but cover the things i needed not something i wanted. The only thing makes me stay contribute coz i thought that the premium will never increase unless i upgrade my plan.

Mine non investment plan.

Medical plan only

I don't wanna state the actual plan as it will reveal my insurance company. But in general, its a medical plan. If i know this will happen, i would have change my plan long ago. The reason i stay coz i thought the premium will never change as agent always said "buy at young age will have cheap premium". Now suddet this make sense. Its not it will never change but i literally pay cheap previously when i first sign up.

I felt cheated now. They should told me last time and i should ask them too. Its my fault that i didnt ask about this last time. Now, i going to change my plan to something cheaper yet covers what i need instead of something i want. Something that cover 100k annually seems fine to me. Currently my plan cover 1.25m per year with no lifetime limit.

I survey last time but i stop as i decide to continue with current plan. Now i will resume my search. U have any recommendations on which company i should go for?

Mine is takaful actually. I havent call them yet. I need to get the clear picture first before calling them and end up saying yes to everything. I dont have deep knowledge in insurance. They can easily cheat me again with simple explanation.