I may be wrong. But ILP seems more expensive in every way.

https://www.mr-stingy.com/choose-insurance-plan/

That's not mentioned fund charges yet at 1.5-1.8%p.a

But Here’s Why I Chose Investment-Linked Insurance

1. Insurance companies provide incentives when you package plans together in an investment-linked policy. For example, if I had bought an RM 250 standalone medical policy from AIA, after 10 years the expected cost of insurance is RM 1,617.56. My investment-linked plan (with identical RM 250 medical benefits) is expected to cost RM 1,249 — but it also includes life insurance + a critical illness benefit. In other words, there’s a discount when you package medical plans with investment-linked policies.

2. Certain benefits are unavailable if you purchase standalone medical plans. For example, AIA’s RM 300 and above plans are not available as standalone plans. If you look at their website, Prudential doesn’t even have a standalone medical plan. It needs to be a rider on an investment-linked policy.

3. Word on the street is that standalone medical plans have “guaranteed renewal” when you get them from reputable insurance companies. But more than one agent has told me if you really want “guaranteed renewal”, you have to package it with an investment-linked policy. It looks like a grey area; as to whether standalone medical cards have guaranteed renewal or not.

I wouldn’t want to be in a situation where I got terribly sick, only to have my medical insurance tell me they don’t want to renew my plan next year. With an investment-linked policy — it’s clear. As long as I’m still alive, and the rider is still active — I’m covered.

4. I showed my actuary friend some investment-linked plans. And he told me that they were about 22% more expensive than traditional term plans. Because I’m an optimist, I’m willing to pay 22% more for the chance that my investments will prosper over the next forty years.

5. A standalone medical policy can lapse if you do not make payments on time. When you have a “savings/investment” portion, this fund can be utilized to cover premiums if you don’t have enough cash at that moment.

6. The fund management charges by insurance companies are expensive (~1.5%). But you would be hit with the same charges if you invested in mutual funds.

Will I be able to beat the investment returns by the insurance company if I invested money on my own? I honestly don’t know. And I have just enough faith in the insurance company.

Whether standalone or ILP, it's guaranteed renewal nowadays in Malaysia as long as the policy is running.

Cheers

Sure I do. Perhaps you should do your homework?

Here you go. These are the standalones that I actually considered getting.

AIA


Great Eastern


Medisavers


AXA Smartcare Optimum Plus

Don't worry. He is like that. He won't want to share information if you are not a paying customer. He will share limited or partial info but won't share everything. I will share at no cost as I have all the documents from the above companies with me.

Is your mum's standalone medical as well?

I would suggest you hunt now. To cost control the premium, do consider getting a plan with coinsurance or deductible. My mum is age 70 and i'm paying 7k for her standalone medical insurance. If you can get something like 1k deductible that would be good. Or 10% coinsurance also ok. Deductible or coinsurance is an amount you have to pay when hospitalised.

Medical plan without deductible or coinsurance will be horribly expensive for parents. I can afford to pay 10% or 1k.

I actually tried to apply lonpac for my mum, but didnt get approved. Lonpac was cheap and was with deductible, i forgot the amount but i was comfortable with it. Cheaper and has higher annual limit than my mum's plan. Sigh...

EDIT: the lonpac plan deductible was 6k. Maybe not the best example. But i hope i point you in the right direction. I really regret not getting the deductible version for my mum when i could have.

My mum generally healthy so that's why i ok to pay deductible.

Hi everyone,

I’m currently exploring insurance options that best suit my profile and priorities. (Yes I am 28 with no life or CI insurance at all!)

Here’s a quick summary of my situation:

Age & Gender: 28, Male
Lifestyle: Active (lots of walking & weightlifting), non-smoker

Existing Coverage:
My company provides medical and hospitalization coverage, so I’m not concerned about basic medical/hospitalization plans.
All my properties (liabilities) already have insurance, so I don’t need death coverage.

Main Concern: I want to ensure that in the event of critical illness or disability, I won’t be a financial burden to my friends and family.

Additional Perks: If a policy comes with useful lifestyle benefits like discounts on food, gyms, or wellness-related merchants, that would be a nice bonus.

Given my needs, which insurance providers/products would you recommend? Ideally, I’m looking for plans that offer strong critical illness and disability protection, with good value for money.

Appreciate any insights from those with experience or expertise in this area! 😊

If it is true or really enforce able by law....
........
.......
These repricing things had been there since many years ago, ...... had been brought up in the medias,  ......had been brought up in the parliament, ......  BNM had also got involved, ...... recently there was even a 2 days public gatherings organised by PAC, .

Has Those "things" brought up to the attention ?

You judge yourself loh

Then it is not enforceable by law that the published premium rate during initial purchase had to be fulfilled to maturity

When I 1st bought insurance, ... not so many info available ( no internet), perhaps I was too young to really pay attention to the things said 30-40 yrs later, ..things about the insurance charges started in the policy table will be different according to age and that it will be subjected to changes.
The medical inflation rate at that time i believe was not high then......as I believes it started to jump alot after Covid.
Also due to the income n budget, there are only a limited types of insurance I can buy.

Later years, BNM came out with, "free look" requirements, which allowed the purchaser to read and understand before actually holding to it.
Now in the internet age, many info are available, so reading those info in the policy during the "look free period" easier

[attachmentid=11511528]

I was quoted RM500 + RM200 loading for this GE ILP plan.

Is this quotation fair/reasonable for medical insurance based on my profile/background?

Age - 36
Existing conditions - previous history of mild hypertension (currently normal range), blood sugar at pre-diabetic range + slightly high BMI
Existing medical insurance - very old/outdated AIA standalone plan at 110k annual limit and 330k lifetime limit
Insurance/Take home salary ratio - around 10%

Hi,
Thanks for the valuable feedback. 

As the ILP stands now, it has 400k lifetime limit.  And you are right about Option B, it has a upgrade possibility now which I'm trying to find out the what's the added premium & coverage like.

About Option A.  I didn't know we can just let it deduct the medical portion, so if there is an option to terminate the Life coverage then it may work too.  But AFAIK, ILP don't exist without Life+Med ?  Will surely check it out.

And lastly, thanks for the reminder about withdrawing the old policy after a year ...

Cheers.

Is this a standalone or a ILP?

Thanks for telling
Just asking, .....
If you dont mind, if it is not inconvenient and when you feel like it, ....
Can take a picture of the "Cost of Insurance" table that is attached with the policy? (Especially table data from age 46 and beyond till max)

Thanks for telling
Just asking, .....
If you dont mind, if it is not inconvenient and when you feel like it, ....
Can take a picture of the "Cost of Insurance" table that is attached with the policy? (Especially table data from age 46 and beyond till max)

The COI table is split into medical rider + booster, too long to share full details here. But I just show you the abbreviated table:

I think the COI is not equivalent to the same amount of the premium to be paid.

I could be wrong.....

If it is fixed then the premium should be not affected by any medical repricing down the road.
If the premium can be revised upwards due to repricing, then the premium of 400/mth is not fixed till 80 y/o sustainability age.

So if it is not fixed, then just prepare the available of budget after retirement so as to beable to keep having hv that XX million medical coverage. After retirement, the chances of needing that coverage would be much higher

So is the premium always fixed or it is fixed unless gov allows it to be increased and then your consent is not needed? the latter means it is not fixed.

the last 2 years shenanigan basically tells you the answer already, regardless on how one wish to describe it. If can happen once, it most probably will happen again.

In your medical policy, does it has mention that premium is fixed or mentioned premium is not fixed?
I believes there is a statement mentioned premium is not fixed.
Check it out to confirm?

Even if your fund performed extremely well, repricing can also happens because of the rising cost of medical care and increases in the number of policyholder/participants going to hospitals, resulting in increases in claims on top of those scheduled increases due to age.
Can the gains from the funds is so large and also have sustainable gains until it can offsets those other factors that can cause the need for repricing for tje sustainability of your policy?
Insurance companies/takaful operators need to adjust premium/contributions to ensure claims can be paid, so they can continue to provide you with the coverage you need.
Funds managers of investment linked funds has less leeway than those normal UT funds managers. Check and compare their funds performance against those of normal UT funds.

They dont need your consent to the repricing, ....they just gives you the options, ......agree to the increase or have the sustainability shortened. "They just suggest to you"....They dont force you must . ....ha ha

Last time, i did not keep up with the premium, solely using the investment / cash value to sustain the policy.....
In the end I got this letter from them. (as imaged)