For prudential , it is not possible for plan A to have non ILP . All plan for A type is ILP only.

Stated within the article - go through the article again

210 - 375 monthly

This post has been edited by lifebalance: May 22 2021, 05:13 PM

Not sure why your preferred is NON-ILP, maybe you have tired google and read some bad reviews for ILP in other countries etc.
However, for Malaysia, ILP typically will always give you the best deals, especially if you are looking for multiple combined coverage.
Malaysia ILP market is rather unique vs many other countries, as in Malaysia ILP is the key product, hence intense competition.

I am actually looking to fix the cost of insurance till the term of 70 years -80 years old.

By this way, isnt it means I am able to save for my future (as insurance cost will keep increasing yearly)

Understand that the premium will be way higher than ILP. So I want to see whether I can afford that.

I prefer to keep my investments and insurance separately if possible

if the cost of insurance is re-adjusted higher overtime then the premium payable will need to increase.

Will there be policies which I can lock on the cost of insurance now?

By agreeing on a higher premium?

Sure, traditional policies.

Only the medical (and sometimes critical illness) will have the premium revision, and this is unavoidable.

A traditional medical insurance will have premium revision as well. It is still relatively uncommon now due to the small size, and for some insurers, they feel that the cost for system enhancement will less than the new revised premium.

ILP = investment + insurance is quite a common misconception.

Say if you purchase an ILP, and select 70 as the expiry age, this indicates that you will get back 0 (assume fund return as expected) at the end of policy term, and this implies that your ILP is 100% protection, which in this simplified example, is exactly similar to a conventional product.

Of course, back in old time, or even right now, many agents will intentionally "apply" a high premium to their customers, instead of select the lowest possible premium, to earn higher commission upfront.

Hey, thanks for clarifying. Seems like I'm unable to avoid the premium revision. And thus, no point for a non-ILP.

I highly doubt the returns of ILP will be expected and also it does have extra fees I believe that will eat up the returns isn't it?

Understand that agents will intentionally bump up premiums, but I do understand that we are also able to customize the sum assured in order to lower down the premium right?

agents commission will be gain throughout the first year of our policies?

Hi guys, I'm looking for a medical card for my mother. She had one with Allianz but the policy lapsed (cos I ignored the renewal notice until it lapsed 😓)

She doesn't want to do a medical check up to get it reinstated or for a new policy. So several agents from AIA, Pru and HLA have advised to just apply and see if they ask for a medical report.

Can anyone advise and provide me a quotation? Alrdy got advice from AIA, Pru and HLA, so others are welcomed.

• Age: 64yo (year of birth 1957)
• Existing condition: Hypothyroidism (under medication. Last check up/medical report was about 10 years ago)
• Non-smoker

I'm fine to exclude the current condition from the coverage if I can proceed without a medical test, if it can work like that.

My ILP has half the cash value of my traditional insurance.. and I got a notice to top up if I want it to last until 70. At least 10k.

Haix...you see that's what I want to avoid....

I don't trust their "projected" returns

But there's seems to be no other way to fix cost of insurance as previous mentioned even traditional have a slightly bump up in insurance premium.

Hmm, maybe traditional insurance bump may not be so significant as the ILP

There is no way to "Fixed" your insurance premium if that is your main intention for asking those questions.

With such condition and advanced age, chances are the insurance company would like to perform a check to confirm her current health status.

However, if you wish to try, I do have some under my disposal.

is it all insurance company price increase this yr?

Not all.

For death/accidental etc, you get a fixed amount when an event happened.

For medical, you get to cover your medical cost when an event happened, this medical cost, is not a fixed amount, hence the premium, will never be a fixed amount as well.

If the premium is fixed, mean the premium factored in all future inflation, even assume a low inflation 3% for 50 years, that is already 438%, or if a 10% inflation for 20 years = 673%
A product will never get sold, if the initial premium factored in future inflation.
This is not unique to Malaysia, and is rather a common practice worldwide.

For Malaysia, the current medical premium revision cycle is ~3 years.

If not mistaken, the assumed projected return is 5%.

Of course year-to-year, it will not be 5%, especially KLCI is very underperforming now, but overall, say over 20 years, it is not unreasonable to expect to gain 5%.

If over 20 year period to gain 5%, this is damn easy.

On insurance, their illustration they will show y-o-y 2%-5% gain isn't it..

So ILP gains in investment is super low + not very sustainable. Have to take consideration of the annual fees as well. Can't really help to sustain.

If I have a choice I would want as less as possible from my premium to go into ILP Investments and i'll take the money and invest elsewhere to gain compound interest

Insurance companies investments are not for capital growth with high returns p.a. Like it or not, the insurance companies are more keen to design around ILP/UL plans than term policies.

You are always free to get term policies and invest the rest. Just keep in mind that your coverage options will be limited.

Your best and first option is to try to re-instate the policy if at all possible. If it has just lapse, then revival is very possible just by paying the outstanding premium without the need for medical underwriting.

Do contact your insurer urgently if that option is still open.

HTH

This post has been edited by roystevenung: May 23 2021, 11:22 PM