Show me your medical ilp policy contract that mentioned that there is a need to hv your consent for any premium repricing imposed
and that the initial stated premium is fixed and cannot change throughout the policy terms

If you can't that just means ......

I... macam opened a can of worms...
Sorry guys.
Lemme just attempt to close it ya.

On Regular Premiums


On Premium Revisions


On Cost of Insurance


On Automatic Extension Feature (this one I don't know if it is standard across industry, please check your non-AIA policy contracts)


These are taken from the latest version of a contract specimen document.
I hope these definitions can help clear the air of confusion between differing opinions and hearsay.

As for some of the forumers who had bad experience dealing with agents in the past, I promise you that BNM, LIAM and insurers have moved WAY past that in terms of training, monitoring, random mystery caller surveys, etc. The industry is pushing really hard internally to remove the bad apples (with tangible evidence) from the system by way of enforcing quality business and sustainable business.

And for everyone else, let's not discount other people's experiences maybe.?
After all, our worldview is shaped exactly by the experiences that are only unique to us.
So maybe we can just be objective, just handle the points of discussion so that the silent readers betul2 dapat benefit.
So that this great topic thread can be known as betul2 bernas like the other topics too.

Again, there are products and plans to suit every socioeconomic segment of society.
None are necessarily better or worse than the others.
The best plan is one that is in force.
A good start to buying financial products is exactly how we buy pants - we identify the purpose then measure and find the right fit.
Lepas beli some will gain weight, some will lose weight. Then we adjust as needed lo. Buy belt ke, insert spandex ke (from personal experience)

Okay bro I bagi cara ya:

You request for the agent to first show you the repricing correspondence letter.
There should be a suggested premium amount there or what is the new premium that will be charged.
The insurer has to notify you 3 months in advance before actually charging you the new COI or premiums.

Then you can also request for a Sustainability Quotation.
Yes, want to change the premiums to increase the sustainability of the policy.
How much to increase to what age?
Gather the information first, then you decide.

decide = get my consent, right? Without consent, or even with my objection, can the insurer just force their way to increase my premium? Does it work this way?

So far I know AIA and Prudential does not work this way

Yes.

So there is 1) the premium and 2) the COI.

The insurer cannot force your hand on the premium.
But the insurer must notify you on the changes in COI before they charge you.

Keyword: notify

Refusing to do anything to the premium, does not mean the insurer cannot charge you the revised COI rates.
The policy will then be subject to a lower sustainability.

I'm just showing you how it works ya.

On the flip side, even if the insurer increases your premium without consulting with you, you still retain the right to move it back to the original premium via writing in.

THERE IT IS.

Like I said, insurers cannot just change the premium the next day whenever they feel like it. If I agree to pay RM400 then it will always be RM400 until I change my mind.

COI is another story. Yes the contract says that they can change the COI. But COI is not entirely related to the premium, because there is also the investment part. What if the investment part can cover the COI increase? Then why do I need to increase my premiums?

Some might say it is little difference. But to me it is a big difference. Money in my hand vs money in the ILP investment units are totally different things. I might consider to top up premiums if somehow the investment portion is doing badly, or I might consider to withdraw from the policy.

BNM said, ....
You decide, ....
You decide to pay as reprised or change to another product ....
https://www.bnm.gov.my/-/mhit-pr

Not you decide, does not want repriced premium but still want to continue to have the same coverage terms as the original before reprice




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Hmmm...afaik, Insurance companies' investment arms are among the most regulated lah.
No doubt there has been some years that surprised even me, but over the long term, it sticks quite closely to what's projected.
As it is, it is already uncommon for anyone to agree to pay above the minimum quotation for ILP policies with medical riders.
With COI hiking at the current rate now, the ones most affected are the customers who absolutely pushed for the lowest of low premiums for the highest of high coverages.
At the time of purchase, perhaps even patted themselves on their backs for their skill at kicking the can down the road.
Insurance is a numbers product. How far can numbers run?

Regarding fund performance
If you find that the investment portion is performing abnormally bad, perhaps consider fund switching before you withdraw from the policy entirely?
Again, please remember that you are buying insurance products for the coverage.
Because it is not an investment vehicle and it shouldn't be seen as such.

As per JIUHWEI earlier post.

They cannot suka suka Premium change next day, ...BUT they can revise the premium by giving you advance notice as stated in the image in his post

Why COI need to increase to during policy change / repricing.......for sustainability of your policy
As spelled out in another image in his post too







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Ask want to ask, ...
Any experience or knowledge about this?
Let's say I am on medical term insurance.
If the current premium is 1000 and after reprice it became 1100.
Can I go pay 1000 instead of 1100?
If I go to the counter office to pay, what will happen?
Will they accept it or refuse to accept it?

If I do it through online banking, can the system accept it?

Will it accept the 1000 but call me up months later telling me that the policy may lapse if I did not top up another 100?

Straight answer - No.

Short payment is akin to no payment for standalone medical policies.
Insurance company will hold the 1000 until the grace period expires, return the 1000 to you after.

No matter how you pay for it, system will show short payment unless the full amount is collected.

If ILP, can. As long as got sufficient account value, no issue.

For standalone, of course cannot. Not possible whatsoever.

But what if it is a medical ILP, that has cash value inside?
Same ending for the 1000 too?

ILP charges the COI to the Fund Value.

So long you maintain sufficient Fund Value for the COI to be charged, then okay.

The process goes like this:

1. attempt to charge for premium >>> fail
2. System reflect premium not paid.
3. You manual pay RM 1,000
4. This RM 1,000 will not reflect as premium, but rather an ad-hoc top up.
5. Ad-hoc top up works this way >>> 5% charged as fees, 95% goes to buy units that shows up as your Fund Value.
6. The COI then is charged to your policy, and it is paid by selling the units.
7. Policy status will reflect as Premium Holiday

This post has been edited by JIUHWEI: Oct 30 2025, 08:14 PM

yep, as you already said, we buy insurance as a protection expense, not an investment product. But many agents are pushing it as an investment product, even ask you to buy additional investment riders so called to cover your COI increase. I hope you can feedback this back to your colleagues that this is very bad unethical practice.

My principle is this: as along as there are units to deduct, then deduct those units, don't come to ask for more money from me. You can inform me of the projected sustainability, but never force me to put in more money just to maintain the sustainability, let me make my own choice

That is why I buy insurance only and omit any investment.

Might not be fitting to exactly what you asked but I just share my experience here

My ILP was from like 20 years ago and it accumulates a sum of cash value and of course over the years kena few times repricing

So until one point I was like why I keep topping up the stash and every few years premium up due to repricing while the COI is still so low (understood is buffer for high COI for old days) and the ROI is not superb averaged out

So I asked a few here + the CS in their branch, as long as cash value enough then policy won't lapse. And I decided to stop paying since like 2022. So I let my cash value to feed my COI. Thankfully last year return was okay @ about 7% so cash value still about the same as 2022. This year so far very bad so should see the value slowly going down if next year ROI still bad

So now I can have slightly more liquidity on my cashflow (never have to pay premium) but of course I let the money generate dividend

And yes my provider only NOTIFY me on the premium up, no consent required. Letter has nothing regarding acceptance. Even I told CS I don't want up also can't. They only said can reduce your coverage which can never happen (agent will siam you when you told them come I want to meet to reduce benefit) which driven to my decision above

My other family member's provider yes need consent. Can accept proposed number, accept a lower number (key in yourself), or reject
If never respond in the portal the premium won't change

Me, too, previously I put in large premium, ... the agent said, then can stop no need add anymore, ...the COI is cheap can be covered by the investment. I was so happy no need to worry about annual premium. Easy for my cash flow and budget planning as that 1 time premium is a 1 time expenses, so I thought.
It ended with, ....

So beware, you policy may lapse nearer to the years when you could be needing it most. Unless

Btw, on your this statement, "If never respond in the portal the premium won't change".
I just think and believes, premium won't change but the sustainability of your policy till full term will be impacted . So beware. I could be wrong, so Better check with the insurance company to confirm my beliefs and thinking.
Also check top last few posts by contentchris and JIUHWEI which may hv relevancy

This post has been edited by MUM: Oct 30 2025, 10:15 PM


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This one not to worry I monitor my cash value regularly, at the least annually (from the annual statement)

Premium were changing and I tell you la will still change

If they managed to made BNM let them this time, what is stopping them from repeating it in another few years

Afterall, now they already keep preaching claim amount is high whenever they have the chance

I will tahan until I really don't feel the policy is worth then I will just walk in and remove the medical rider

EDIT to add on your new points on sustainability: Yes, this one definately. Either topup to maintain the sustainability or keep it the same at the cost of coverage years. No usch thing as no price up but hope to keep the year of coverage since COI already up. Unless your investment ROI suddenly shoot up but you know the likelihood is low.

This post has been edited by coolguy_0925: Oct 30 2025, 10:20 PM

Eventhough you did not response? I thought earlier you said ...
"If never respond in the portal the premium won't change".