You meant both ilp and standalone having same quantum rate of increases like this example?


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My apologies. I was referring to the rate hikes affecting both ILP and Standalone.

I am more concern which one will be more of a shock in the quantum rate of increase in premium when one is at retiring age.

Will it be ilp or standalone?

It's built in within the cost of insurance table. However the charges are lower with ILP.

The purpose of ILP is also to give you the opportunity to level your premium and pay a lower amount now than you need to pay once you are age 90 plus for example where it's 20k plus while the ILP plan may allow you pay for example 4000 yearly now.

So that you won't be so financially burden to pay 20k yearly instead in your later years.

So cashflow is key.
We can all agree.

Does standalone plan also come with that option?

No one has a crystal ball to tell you.

Just buy insurance whether it's ILP or term based on what you are looking to cover. It's like trying to think whether you want to buy a proton or Mercedes hoping it will be a vintage car in 100 years from now on. Hoping to resell it for profit lol.

Nowadays it seems the draw of buying insurance is not on the coverage but cost instead. Which is not correct. Let me remind you again that you should be buying insurance for the insurance coverage so that you won't be financially burdened should such event happens. So start identifying your risk instead and don't measure against another person who may have different risk to cover.

This post has been edited by lifebalance: May 17 2024, 09:35 AM

So far, no.

Hi sifus,

Wanna see some advice regarding to my insurance coverage. Read some recent posts above and this made me worried as it seems that I don't really know in detail about the coverage that I have. All the policies that I have below were done quite some time ago with parents' friend/relative so I guess they just want to sell the products at that time

For AIA I have the following, extracted from the info that I can see at the MyAIA website:
1) ENHC HEALTHGUARD / ENHC PA HG (Critical Illness Protection) - annual premium is RM780, coverage amount is RM100k. Actually what is this 100k means ya? Yearly limit?
2) EXCELPLUS - coverage amount RM50k - also what is this about?
3) TERM - coverage amount RM5k - again what is this about?

Also the (2) and (3) above was under the same policy and they are now under the "IN FORCE DISAPPEARING PREMIUM OPTION". May I know if I shall let it be like this or better to continue paying for the premiums?

For Great Eastern, I have the "CENTENNIAL ADDVANTAGE INSURANCE", paying RM200 per month. If I see it correctly, the medical limit is 180k annual limit / 1.2mil lifetime limit. I guess this is those medical card where I can use it during hospitalisation right?

My main concern is on the medical coverage, especially after retirement or when the company's medical coverage limit is exceeded. Also I see above, there was discussion about the waiver of premium paying when got illness, etc. May I know how do I check this and how shall I start from here? And how to see if the coverage is sufficient for an average treatment at private hospitals when needed to? Average meaning I'm ok with 2-person room, etc.

Also would like to see, if there's any redundant policies? Or any outdated policies that it's better that I surrender it and get a current one instead?

Thanks in advance

That is what I did back then, ...
Buy within my financial capability...
Then when retirement age, I realised that, that decision to buy based on my financial capability during my income productive life may not be fully correct.

The rate of premium increase based in the table attached with the policy years ago which I think I can afford has gone up tremendously until it can be a burden at times.

The best way is to conduct a policy review and from the financial health check, I will be able to tell you what you need or don't need to cover based on your current status.

So the quantum rate of premium increase shocker will be expected to be more on standalone.

Ya this also caught me as well for my mother's policy. The premium I need to pay now is more than 2x the "projected" premium in the table that was shown to me 10 years ago if I remember correctly

This post has been edited by lowyat101: May 17 2024, 09:49 AM

Your story seems to be you bought term insurance and you are unable to service the premium thereafter. This would not have happened if it was an ILP where you can plan for how much premium you can afford over the long term.

You most likely didn't set aside the extra money you have saved from paying a lower premium if you opted for term insurance which you are suppose to invest the savings and use it to pay for your future insurance premium which is now. Hence you are feeling the burden of paying the higher premium.

Your best bet now is to either
1. reduce your coverage to maintain a lower premium
2. Continue the current coverage and pay what ever premium is required
Most worst case scenario
3. Cut off coverage if it's impacting your minimum daily expenses

Insurance should not be a burden to have in the first place. It's existence is to help you in financial assistance. But buy it within your means.

This "should" be my lesson to my children...can you afford to buy when you are retired or hv not active income.
What you can afford to buy during your income generating years may not become sustainable when the time come when you are at the most needing it. (Old age)

If you buy an ILP get ready for negative cash value or at best zero cash value at age 70 if you did t topup.

So you factor in topup, poor performance of the ILP which force you to keep increasing premium, I think you landed same place with standalone insurance.

That's why plan for it. That's why for me, if my 70 years old premium increase by say 100% from today price, can I afford it at today money? Can. Because I already plan for it when I buy it.

What happen if you got no money to service the ILP? There will come at time when the medical insurance premium is higher than the premium you are paying for your ILP. A honest agent will tell you expect negative cash value or at best zero cash value at age 70 while a agent that try to sell you stuff will tell you don't worry. You pay now, no issue in the future.

This post has been edited by Ramjade: May 17 2024, 10:48 AM

Your 70 yrs premium
Assuming your are 30 yrs old now, that means still hv 40 yrs.
100% increase in 40 years???
I think that would be easily...under estimated
If refer this as and example
The value stated in this table will be subjected to periodic frequent increases during the next 40 yrs too apart from the few years once medical inflation cost premium hike adjustments

BTW, some had suggested to use the money saved from standalone to do investing to help pay for future premium increases
Investing has prolonged down periods too. What if it was down periods when one retired or during retirement periods?

This post has been edited by MUM: May 17 2024, 10:33 AM


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If you invest for free cash flow doesn't matter if down or up market, money will keep coming in. There is no need to sell anything. I know some financial bloggers will kill me for saying no need to sell stuff but that is different story.

Hi guy, need some advice here. My father bought this GMC medical card during 2007 and his AL is only 60k which already fully claim for surgery (thyroid and cataract) this year.
At the same time he is also diagnose with a stage 2 laryngeal cancer where he will start radiotherapy end of this month.
Refer to the policy I uploaded, do the outpatient cancer treatment for 13k is included in the 60K annual limit?
Agent said that the 13K limit is included in the 60K limit but I feel the other way reading from the policy. Any agent can give clarification on the matter?



This post has been edited by H2O3: May 17 2024, 11:13 AM

While waiting for real value added inf9 from real 8nsurance sifus, I would just place my bet on item (12), overall annual limits