There is a reason why such plans are not sold to individuals due to its non-sustainable business model. Individuals who apply for it normally abuse it with unnecessary claims or sickly people who has a very high claim ratio.

There are many plans like this that has withdrawn in 1 - 2 years time in the past as they simply didn't last though the pilot phase.

The withdrawal clause is there to pull the plug should there be such a problem.

Missed out your last question

Yes there is. But more catered for VIPs with better benefits.

I think corporate plans means companies that cover their employees and dependents for outpatient and GP, but utilise insurance company management to execute it.

Obviously it is a pure loss making scheme as it is just an expense for the companies to bear as a benefit for their employees.

At least most companies have insurance for their staff. Mine had none (pay and claim first). Typical Chinaman company.

Hush hush. You just "discovered" the secret feature of ILP. Answer is as long as the Medical Card portion can deduct the fees from somewhere, no change in your coverage.

So just make sure the card is feed every month.

You double check your contract. If there is no consequence missed payment or there is no reward to payment on time, you dont have to do it.

Since your investment portion is drained, very likely it will not be able to sustain the plan until maturity and they will ask you to increase premium.

The premium "revision", in case you didn't notice, is only a suggestion, regardless of what insurance agents say. So you can choose to follow/disregard, or you can decide to make a big lump sum contribution later in your life to so called top up the "buffer" in the investment portion. The latter is my plan, as currently my investment portion is already bigger than my life assured notional (I just use it as a gauge: ie the surrender value of my plan is greater than my life assured).
So I just continue paying the usual monthly payment via auto-debit to my CC.

Now for the premium revision, it is on a pool basis (the specific medical plan you are on) and not supposed to target any individual person of the pool. The pricing is based on the pool.

(this part is just the devil in me thinking. There are other ways to target you: like rejecting you when you get hospitalized by claiming all sorts of story. So there is no reason logically to target extra 100 rm premium from just you to improve profit. This part is all conjecture on my part and I brought it up just for casual discussion).

PRUBSN already sent notification for premium increase..i think this is the 3rd time since i took the plan in 2011.

2011 - RM 200
2018 - RM 215
2021 - RM 251
2023 - RM 278

Tell u insurance is a loss-proof business

Critical illness coverage purpose mainly is to cover expenses when you are diagnosed with an illness and is unable to work. Imagine you cannot work and you have bills to pay, this is there the critical illness coverage comes in handy, and usually it comes in a lump sum. Please do check if it covers early stage critical illness. If it only covers late stage critical illness, no point getting it.

So it really depends on how much your monthly spending is, what your commitments are, and use all those information to calculate how much coverage you need. Some people just take their monthly salary and multiply by the number of months for easier calculation. The higher coverage you purchase, the more expensive the plan gets. Hence you need to strike a balance.

On the plan swap, tbh I wouldn’t do that unless I really need to. If I really need the additional coverage I would just purchase a new plan. However, I can’t really give any advice without knowing your actual situation.

Recommended coverage is around 3-5x your annual salary. If you want more kiasu then 10x your annual salary (more expensive). You can actually DIY your own critical illness illness yourself too.

Depends on how you see important or not. If you lose your job or need go for prolong leave because of your illness, can you afford it?

Don't bother about AIA critical illness. Expensive for the same coverage and lower payout.
Take a look at Singlife Insurance
Some recommended ones are
Singlife Multipay
-only critical illness with coverage for all stage of cancer and even cover cancer relapse
Singlife elite
-it have life, tpd, basic critical illness or + early critical illness rider
Downside is you need to travel down to Singapore to sign the documents and it's priced in SGD. But way cheaper than what AIA offer. I will give you one example.
AIA quote me RM500k coverage with early critical illness included and it cost RM14k/year
I got same coverage from singlife for RM7k/year and it have multiplier.

Keep in mind you don't need to cover until 70 years old. You just need to cover until you retire. The longer you choose to cover the more expensive it is.

Also keep in mind for critical illness if your ill doesn't meet certain definition, you won't get paid out. One example is heart attack. If you have heart attack and your angiogram is only 67% block, you won't get paid out cause the definition required paid out is min 70% (this is real life example told to me by my agent).

Also, basic critical illness is very cheap Vs early critical illness. The more early critical illness coverage you get, the more expensive it is. Something to think about.

Wanna ask a typical critical illness insurance does not have death benefit right? Eg if the policy states that must survive 30 days to be eligible for claim, and the person dies at day 29, he and the beneficiary will receive nothing right?

Some critical illness come bundle with death benefit. Don't la look for 30 days survivability. Look for those 14-15 days survival period.

If your insurance does not have death benefit, then yeah nothing.

In the brochure, covid not in the list of 23 disease that they cover.

Keep in mind it's a PA policy. Means they cover accident only. Infectious disease is not an accident. It just that they happen to offer some benefits that cover some infectious disease.

Great Eastern Life Insurance.

Which is the best & convenient method to surrender?

I called their customer service line, keep listening to music.

Anyone has experience of surrendering GE pls help?

I think all insurance online website got write there amount needed to pay? I know AIA, GE have.

One way I do, pay lump sum every year so you no need to worry about payment not made.

Alternatively if lump sum too much, make manual payment on first of every month. That is what I am doing for my other bills and credit card. I manually pay one by one. No auto deductions for me.

If the  policy is very old need to do top-up cause no more cash left. Usually they got write there sustainability until xyz year. Cash value how much.

check whats the balance/value of the investment pot of your ILP....  from what I understand, as long as it is still positive and with sufficient amount, your policy is still in effect.

Just to share my experience, not with PRU but with GE.

Last year I remove auto debit on my GE ILP and let it deduct from the investment value for one whole year until I terminated it and get back the remaining balance. Didn't receive any lapse notification and the policy is still in-force until it's terminated manually. My agent told me the policy will stay in-force as long as the value is enough to pay the premium.

Try throwing like 1K rm (since your monthly payment is supposed to be 173rm). It could be timing issue/how their batch system run to check if there is enough funds or not.

But the worrying part is the phrase "lapsed". You better call the CS or agent to double confirm that your ILP is still "alive" and in effect.

Check with customer service does your insurance have conditions that you need to pay for like 5 years or more then only you are allow a premium holiday. Since yours is only 4 years. Cause for the first and second year, >50% of what you pay goes to agent if am not wrong. So maybe that's why not enough cash value.

I genuinely think an ILP is not for you.

Nope, that's not how ILP works.

It's not about needing the cash value.
Cash in is into the fund or place holder. Medical card fee component take out from such fund or place holder. Hence why sometimes you can skip payment because the fund still have cash value to cover any missed payment. It's transparent to their process.

Sometimes, trying to optimize 100% takes too much effort, and we outsiders don't know exactly the internal process. Even agents most probably won't know.