Medical card with ILP generally comes with life insurance and critical illness coverage. Loss of license means provide coverage for pilots alone. For medical card/life insurance nowadays, any permanent disability or critical illness regardless of your occupation will be covered as well.

On whether mixing insurance with investment in ILP, you can do so by maximising the insurance coverage but the sustainability of the policy will be short. The investment/cash value is used to pay for the rising insurance charges in the future. If you are planning to get insurance for long term (i.e. coverage until age 80), you are still better off getting an ILP instead of term insurance/stand alone because ILP will be cheaper than term insurance.

MLTA is a type of mortgage life insurance which is a type of insurance to protect against the house loan you signed up for. Whereas for life insurance it is used to provide peace of mind and reduce financial loss or hardship faced by your family if you passed away.

In a person's lifetime, it is common to have multiple life insurances running at the same time. Different people have different needs and how much they want to leave behind for their family. So, how much life insurance you need is dependent on you.

hi fariz, if you are comparing COI, cheaper ones are Prudential, GE and HLA. For AIA, Allianz and Manulife, the COI is slightly higher but of course the benefits differs too.
hi afif, i'd never heard of 'loss of license' policy. for AIA latest medical card, you can actually find it on google.

as of life insurance, it will be more on risk management planning based on your current lifestyle and needs. (MLTA is actually life insurance termed as MLTA)

hi afif, in terms of "loss of license" insurance, i won't be able to shed more comments on that since i have never come across plans that cover that. for your friend's coverage, it's very depending on when he bought it, how many years the plan covers him for, is it a term or ilp, occupation, smoker/non smoker, etc. Can only share more if he is willing to tell you all the details and show you the plan. if you are really keen on how much plan you wanna get, just let me know. i can plan something for you but you are not obligated to buy/apply anything.
hi fariz, indeed Cost of Insurance (COI) will increase as one ages. COI is not equivalent to premium ya. when your payable premium + cash value is not able to cover the COI of the plan, then only insurance company will increase your premium.

Diabetes does not count as a critical illness.

In another example, if one day you lose your pilot license because of cancer, insurance company will pay you for the critical illness lump sum. Whether you can work elsewhere or not after your recovery, insurance company will still pay you because it is based on the critical illness, not the occupation. For pilots, it is considered as occupation class 2 and this information need to be declared to the insurance company when you sign up for the life insurance policy.

It's not impossible to do RM 1 million coverage for annual premium of RM2000+. For your age, 1 million life coverage can be done with monthly premium of RM250.

Yes most agent is like that. No matter how many times I told them I dont need that much medical coverage but they will still keep on HIGHLIGHTING whatever benefits that comes with the ILP which is not FREE in the first place.

Thought want to give a friend a little support (stand alone medical card) for 1 of my kid insurance but sadly they dont have it.

Your understanding on ILP needed to be beefed up.
You paid more ILP compared to standalone, because you are paying extra premium in the early year, that being saved and invested in unit trust, which used to compensate or pay the increase COI of medical coverage later on, it never deter the increase of COI.
Please be minded the investment part also can lose money instead gaining, so you also took the risk of investment in ILP.

All still comes from your own money, it never lock in the medical COI due to aging and inflation in medical cost.

In a correct insurance pov, you don't or can't or look for premium saving. Insurance is drafted based on actuaries maths, it is computed based on pool of risk.
Please don't have a mindset try to save on insurance premium by buying early, late or whatever strategy, it doesn't work that way. Insurance is a consumable financial product, you need it, you buy it.

When old, everyone will need to pay more in medical coverage, this is how insurance works, and how insurance company can be profitable.

Life insurance only needed if your have financial dependents, if you are not married and no financial dependents, then life insurance is not urgently important, except CI/TPD.

Insurance is all about financial management and personal needs, there is no single or universal rules how and which insurance needed.
Fix rules or fixed % amount must be insurance, it just means insurance company and agent can securely make fixed % profit from your wages. It is about marketing only, which doesn't address the personal needs for insurance which  is different for everyone based on different individual financial position.

If previous post was not in good manner, then apology for that. It is not my intention.

The reason of a little more strong word on ILP, because there were plenty of discussion always being loaded with misleading statement from few irresponsible agents that tell clients, premium is fixed so that they don't need to worry on premium increase like standalone.
Also, there may many potential misleading statement of "buy early so that premium will be cheaper", which is quite a common misunderstanding.

As a result, it may lead to many non-well understood clients that keep on trying to "save" or "buy cheaper" mindset in insurance, which eventually when something in the future is not as they expected, then say insurance or agent "cheat". <--- quite common when their ILP received letter or premium revision due to sustainability issue.

Just want to ensure everyone well understood and clear everything when signing up insurance, because insurance is long term commitment, which could affect personal cashflow problem if it is not well managed.

Insurance is buy what you need, there is no cheap or expensive insurance, as insurance is highly regulated industry.

Nobody claim who is smarter, we are here to share info and always learning with each other, and open minded for every aspect.
Cheers.

If your have housing loan, generally bank always insist of having MRTA, MLTA when approving the loan that will cover the loan outstanding if passed away. So it is not urgently need to have a life insurance to cover the loan, as most loan when taken up, most borrowers already signed up the MRTA or MLTA already.