Kindly read the stuff before and decided if ILP good or not.
https://investmentmoats.com/budgeting/insur...-right-reasons/

https://investmentmoats.com/budgeting/insur...rance-and-ilps/
https://www.reddit.com/r/MalaysianPF/commen...egular_medical/

For me I am buying AIA a-med life regular with booster (standalone). Avoid ILP.

ILP Holiday premium
You can don't pay for a while but you will need to pay for it eventually. How many months depend on how good is the investment. If you look at majority of the investment, cannot even match EPF return.
If you are a good pay master (always pay on time) standalone make more sense. Of course if you can generate 50% returns with the money saved by not paying premium, than ILP might be better choice. How many normal humans you know can generate that kind of returns?

ILP waiver
Only applicable if you got critical illness which is not early stage.

If you want to buy life insurance, just buy term until you retire. Don't need to buy until old age.