Attached for your information:

Quote generated based on my information
Male
Non Smoker
NB 34
Office job

This is the minimum premium for RM50k Life/TPD/CI which is RM100/month. You may also refer to the COI for Basic (Life/TPD) and Unit Deducting Rider (IL CIBR) in the table below.



I checked the quote for Great Critical Care Direct, it would be RM11/month.

Great Critical Care Direct looks like a pretty good deal if you ask me.

As to why the COI for Great Critical Care Direct is much higher, it could be due to the monthly expenses for mortality, administration, and other costs incurred by the Insurance Company on Great Critical Care Direct differs/projected to differ from IL CIBR.

I'll open the stage to other learned thread contributors to contribute.

Best,
Jiansheng

If I am not mistaken, the insurance company pay for it. It's not free. Another word my agent use, insurance company will know. You cannot run away if you try hiding it.

To be reviewed by the insurance company. Discretion up to them if they need to impose anything after your disclosure.

Both will increase with time. See you want surprise increase or not. Cause I asked both AIA and GE agent no increase for standalone clients in past 10 years other than what's in the projected table increase. Any increase in ILP In the past 10 years? Yes.

So premium of ILP for life insurance plan also goes up periodically like ILP of medical insurance plan?

Does the premium of the NON ILP LIFE insurance plan also goes up periodically like the ILP LIFE insurance

Not necessary only the above, more ppl is claiming everything under insurance whether it is necessary or unnecessary.

As you can witness "discussion" on this thread that some would resort to unethical measure to file claims with insurance company. Why you think insurance cost won't go up?

Sick a little, pain a little. "I want to be hospitalized, I don't care, I paid for insurance, so I must claim from insurance" attitude is what is hiking the insurance cost.

if things can be remedied with Panadol / more sleep / right diet / less alcohol / less drugs / more exercise. Why trouble yourself to stay in the hospital.

Hi, I just want to explain my scenario quickly and ask for advice on what I can do in this situation.

7 years ago, I bought an ILP plan from GE (Insurance + Medical), and there has been an increase in the premium of the existing policy.

Then, a new GE agent offered me a new ILP policy. He proposed canceling the existing medical card in the current plan and adjusting the policy of the existing plan. This way, the overall cost of the Existing ILP policy (Insurance only) and the New ILP policy (Insurance + Medical Card) would be similar to the increase in premium.

After the new policy free look period expired, My old agent receive the letter of adjustment of old policy, and informed me that the investment fund in the existing policy would be affected, as the agent would no longer be taking commission from it. Thus, the money would go to the policy and investment fund.

Currently, I am planning to reverse the changes by sending an email to GE to appeal (cancel the New policy and reinstate whatever changes have been made in the existing policy).

If this fails, since the investment fund in the existing policy has been affected, I am planning to keep whatever is in the old policy and update the new policy to a standalone policy with Medical Card instead of ILP.

Can any expert (sifu) offer advice on any other steps I might not be aware of to fix this?

Hi all, any Great Eastern insurance agent here that can help clarify my query as follows:

In the ILP "Sustainability Notice" sent to policyholders annually, if the policy cannot sustain for the full contractual term, one of the options presented to policyholders is to increase the regular premium contribution.

There is a note that says: "The increased regular premium amount is treated as a Regular Top-Up based on the prevailing allocation rate."

May I clarify what does this mean?

If my policy is in the 7th year and my allocation rate is at 100%, what will the allocation rate be for the increased premium?

a. 100% - following the policy's allocation rate
b. 95% - following the single premium top-up allocation rate
c. 43% (Y1-Y2) / 76% (Y3-Y4) / 85% (Y5-Y6) / 100% (Y7 onwards) - following the allocation rate as per Schedule B of the policy contract

It's within your policy contract.

I think when the word "pool" is used, it does not mean each individual plan has its own pool. I think it's more of a gigantic pool for all existing plans for medical claims, etc.

Are you on standalone or ILP?

Like Ramjade mentioned, for standalone, eg: AIA they cover until 100 years old if you continue to renew every year. Some perks like you may upgrade to a better plan in the future for "free" without health check up.