it was not designed for the purpose. It gives you the flexibility if you really need the money.

but normal circumstances best not to withdraw.

if you withdraw now, and put money later, there is a charge (like how you withdraw from your unit trust and want to save again, they charge sales charge AGAIN unless you have credit system)

for term life insurance coverage around 200k, for 30 years, which online insurance platform the best?

while waiting for responses, i googled and found this.
hope they can provide you with some info while you wait...

Best Term Life Insurance Policies
Customisable life protection plans with affordable premiums and flexible coverage terms.
https://ringgitplus.com/en/term-life-insurance/

I was attracted with this plan by then because the agent told me the cash value can be withdrawn after 10 years without any charges. And the cash value is almost same as I paid for the past 10 years according to the schedule shown, so I sort of think of it as a forced saving as well. But reading in forum, I feel like over insured but I’m not sure 🤔

No idea Sir, best to google yourself on that

Moonstone, you're looking for a good advise but it seems that you are not even sure what to get for yourself.

I rather get a good advise first then get a product.

Since you want online platform means you want cheap. Means you gotta research yourself?

Hint: cheap things no good, good things no cheap.

Hint 2: most of them have online. From aia to zurich, from A to Z

Hint 3: etiqa is cheap but is it good?

30yo female non smoker
400k sum insured
350k CI
100k early CI
100k care for mum
premium waiver

How much per year for above ILP in market now?

If the plan is marketed as a savings plan, the premium will be high, enough to have cash value equal to the premium paid.

A ILP would average RM200 per month onwards.

Sure got research, just want share opinion only, i think lowyat here no just for 'profit' & 'business' purpose only. Sometime can explore of a bit affordable plan and not everyone is rich here and poor people still need to buy some affordable plan to protect ourself. "Sharing is caring"

This post has been edited by edwin1002: Jun 28 2020, 04:38 PM

what is care for mum 100k?

anyways, ranging from 4000 - 6000 yearly

are you referring to Manulink Wealth? because there is another plan called Manuwealth Assured. If you are referring to Manulink Wealth (ILP), then yes cash value can be withdrawn.

basically so long its an ILP, you can withdraw the cash value anytime. for this plan if you made withdrawal within 10 years, there will be charges imposed due to the 100% allocation rate of the plan even from 1st year onwards. Save with a purpose (for example need RM400,000 in 10 years time), distinguish between savings and protection also will be better so you are clear of what you want and you don't forego insurance benefits when you need the savings in the future.

whats the occupation? assuming class 1 occupation (office job), a premium of 5400 p.a is needed for policy with such benefit to sustain until 70 years old.

This post has been edited by ckdenion: Jun 28 2020, 06:30 PM

It’s an extra for female illness. Thanks for the info.

Just wondering if the insurance agent living different place with the client, let say the agent live in Kedah while the client live in KL.

Any difficulties in terms of helping the client to claim / follow-up with the insurance provider if something went wrong?

This post has been edited by coldbasecamp: Jun 28 2020, 09:02 PM

Hi, i am new here. Recently was chit chatting with my friend and he mentioned to me that Allianz is one of the cheapest, but coverage above average. Anyone can give some info on Allianz medical insurance?

Thanks ya.

Oh I see, alright sorted it. Within 4k to 6k yearly as it is.

Nowadays with the internet, it's quite simple. Your agent don't have to be physically present other than signing of the policy.

As the agent is just an intermediary, your contract is with the insurance company, so in any case if you're based in KL, you can always drive up to the Branches or HQ to deal directly with the insurance company for any claims matter.

Uh I can definitely say it's not the cheapest but the coverage is above average than the other companies.

This post has been edited by lifebalance: Jun 29 2020, 12:15 PM

Ok thanks for the info

I'm 33 years old, just married second year & no kid yet. Existing got ILP with 70k life insured only.

Am thinking to add more protection on life insurance. Should i go for whole life or term plan? am considering the GE Great Term Direct plan....

Depending on your budget and personal self financial plans. Get a financial adviser to give you a proper advise.

Better to add CI in life plan.

Term life minimum coverage 5 years. Can add in CI
Less benefit compare with ILP life plan.

Anyway no right or wrong after you learn the different and make the choice. Depending your available budget.