AIA's A-Life Wealth Care is an investment-linked plan. You need to check whether your agent quoted is based on age 70, 80 or 100 coverage which will affect the premium. The "savings" inside any investment-linked plan is used to pay off rising insurance charges in the future. Which means that the savings or cash value will deplete on its own when the insurance charges is higher than the return on investment.

If you plan to withdraw the cash value, it basically means that you are spending future money so technically it is not really savings. Make sure that waiver is included in the policy as well so when you are diagnosed with critical illness, you do not have to pay for the premium anymore (until the coverage ends).

When do you need life insurance?
1. If your family relies on you for the lifestyle they are living (including children for their future education).
2. You have debt (house mortgages and other loans)
3. You have a high-risk job
4. You want to build an inheritance for your family

Considering you currently have 3.2 million life insurance (1 mil + 100k + 2.1 mil), you may consider adding critical illness coverage which will pay you cash lump sum if you are diagnosed with critical illness. You can consider similar plans like SmartProtect Legacy Max from Great Eastern.

hi linkham, what is your main concern when she approached you for the RM1mil life insurance? do you intend to increase your protection more or accumulate your wealth more?
hi rodeon, basically if you are just focusing on your house loan, so long the coverage term can cover your house loan tenure (or more its okay also) and the life insuranceamount is also = your home loan amount, then its ok already. the returns in any investment vehicle is not guaranteed ya. the projection is always just an estimation.

Hi Linkham,
Is the proposal an addition to your existing life insurance or you intent to replace it for Allianz PremierLink?