You can see on the ILP projected returns table when they make the proposal for you. Assuming you pay RM3000/month, it cannot last more than 72 years old if you use 2%p.a return by BNM. This is excluding repricing. If you don't agreed to be repriced, it will end faster around 60+.

So sustain until the contract. So what what happen when contract end? Now do you see my point?

If you want to buy until 80 years old, even in proposal at 2%p.a they already put can last only until 70+. So what does that tell you about cash value even if they reprice frequently.

This post has been edited by Ramjade: Jan 19 2025, 08:57 AM

You surrender already = no more medical insurance. You buy insurance for the insurance or the cash value?

If you are just buying insurance for the cash value, it's a very very wrong way of planning.

Actually to increase premium, the insurance have to show to BNM that they need to increase premium. Only if BNM allows it they an increase premium.

All the premium increase have actually been given green light by BNM. Only issue is insurance company too greedy and want to increase it at a faster rate. Hence the big hooha.

Yes. It's called company insurance. Usually company covers outpatient visit, GPs. Used to have one but was discontinued guess not making money for the insurance.

So to answer your question, Yes and no. Yes. Company insurance but not all. No for personal insurance.

No longer available. Only for renewal.

I will say it's AIA. Cause
1. They have lots of outpatient options available. Dengue, food poisoning, influenza, gastric, bronchitis can all be treated outpatient rather than admit.
2. They have option to give you upgrade to new plan without any new medical underwriting if you been with them for a long time and didn't claim.

Keep in mind I got incentive for you to buy AIA.

This post has been edited by Ramjade: Mar 18 2025, 01:14 PM

Better than other insurance that force you to admit for those things. By not admitting, the insurance company pay lesser Vs admitted which should be the way.

They do cover outpatient even if you seek treatment at GP for those illness.

It's is still better than other insurance in Malaysia where they force you to admit to avoid paying the bills. Now you got option of not admit and still get the treatment you want.

You don't get that with other insurance companies. Whether it Dave the insurance company money, I don't care. I don't like to be force to be admitted just because I don't want to pay my bills.

Sorry. I paid for my insurance and I expect them to pay for me. No out of pocket. If I want out of pocket, I wouldn't get insurance in the first place.

You need to understand that with ILP
1. You are paying for them to manage your money in hopes that they can pay your future insurance premium. In reality that is not the case. As and when the ILP is not performing and sustain losses (which is like majority of the time), you are required to add on extra into your premium to make up for the losses or else the duration covered cannot be sustained.
2. Whether the ILP is making money or not, you are losing money 1.5%p.a in fund management fees. This is excluding if your ILP have service charges (means everytime they take money from you they charge like 5%)

Life insurance is usually needed for people with dependends (kids or wife). Single people don't need life insurance. Also another way of insurance is having cash flow coming in. If you have say 6 figure of passive income coming in do you really need any insurance?

Shop around for critical life insurance. For me I found cheaper and more coverage in Singapore. This is real example. AIA offered me RM500k coverage for RM14k p.a. I found in Singapore they can do like RM1m for only RM7k p.a

Once you have insurance you cannot run away from repricing. If ILP or standalone you can opt for cheaper plan (downgrade). If you don't pay up for ILP now, your sustainability will be reduce. It cannot last as long as promise in the original contract. It's either you pay up now or pay up later. Either way you cannot run away. The only way you can control it is
1. Increase your topup for ILP now
2. Do a lump sum top up near retirement day RM50-70k topup
3. Control how the investment part perform by going standalone and EPF route as you are cutting away lousy fund performance.

Don't ask agent what you should do as they are incline to sell you things. Find independent financial advisor who are not earning via commission. That way they are unbiased.
https://nomoneylah.com/2019/12/17/personal-...ancial-planner/
Old post still relevant.

EPF perform better than majority of ILP over long term. I can't advise you. I can only tell you what I am doing. I buy standalone only and use investment money to pay for my future insurance cost with more excess than what I can get with ILP.

This post has been edited by Ramjade: Apr 6 2025, 07:28 AM

You can't do anything actually. The only choices you have are as below.

1. It's either you accept it and pay more premium now or
2. Keep current premium and
a. top up more in the future or
b. suffer decline in duration of coverage
3. Downgrade or remove some plans.

Can sustain only 100 years old is only a dream. If you see the projection table by the insurance company at 2%p.a and 5% p.a (as mandated by BNM) you can see that in actual fact it cannot sustain until 100 years old. Some where down the line 70-80y time, your ILP will run of of cash value. If you don't inject say say 50-100k of cash, no way it can sustain you.

Remember with ILP you are paying the insurance to invest for you to actually able to sustain you until the age require. For them to do that they need to invest to get about the 5%p a rate consistently. Can that happen? I don't know. I have look though lots of ILP and majority can't even match EPF returns, so you tell me.

That's why I don't bother with ILP but rather than let them invest for me, I invest it myself and just buy pure insurance. No investment part from them as I feel it's not worth me paying them money if they cannot even generate a decent return. Basically in plain English why pay them when you can do a better job yourself.

If you haven't claim, you are still in luck as you can still buy standalone. Standalone is just plain insurance without the rubbish investment. You take the savings and dump it into EPF which will generate better returns than whatever the insurance company can do.

Your choice.

Only few companies have standalone medical up to RM1m coverage.
1) AIA
2) GE
3) Generali
4) lonpac -medisavers vip

If you want to buy those 200k-1m coverage without agent, not possible. For those 100k coverage can buy fully online.

Generali can be bought online via fi.life

There are standalone available.Only agent not promoting it. You need to ask for it.
AIA, GE, Generali and lonpac have it.
For those 1m coverage above, need to use agent.

For those 100k coverage lots of options available. All can buy online.

They are effective for people with no money. Not everyone can afford 1m coverage.

Unless you landed up in ICU or have extensive surgery, RM100k coverage more than enough.

Because insurance is based off the coverage and premium you can afford. It's like if you pay for economy ticket, no way you can fly business right? Same thing la. You want business class, need to pay business class price. You want higher coverage, you need to cough up.

Its fair as in the one who pay the higher premium have access to higher coverage. it is like no way a house insurance premium have same coverage for sat a RM1m house and a 5m. Definitely the 5m will be more expensive as the insurance company is taking on more risk/payout so they demand higher premium as compensation.

If you are non profit, it's a different sorry .

Remember insurance is about you paying insurance some money to transfer the risk to them. If you don't claim they make money. If you claim they lose money. But they cannot lose money too much or else shareholder will bising. Many soveign wealth fund or pension fund have insurance in their portfolio to pay for country development or people retirement. But now insurance also wants to make money so package multiple products so that can make more money.

This post has been edited by Ramjade: Apr 21 2025, 07:49 PM

He memang passionate. I give him that. But can't do anything unless you are China.

I went with AIA in the end for the following reasons
1. Decent post hospitalization follow up vs generali/lonpac
2. Less problematic vs GE (you can see GE have tendency to reject claims as shown in the news. Yes news and not new.