Hi sifus,

I was approached by an old friend (lol) who's a GE agent. Was introduced to the SmartProtect Legacy Max.

My friend sent me a quote as per the photo below:

- Assuming I'll be paying RM 500/month
- Pay for 30 years




I'm 25 this year, non-smoker. I already have my own medical card (RM 300/month coverage 1.5 million with AIA) - was just wondering if this plan is ok or should I just politely decline my friend. I would really appreciate any expert opinions as I'm not so well versed with ILPs.

Thank you

My current commitment is pretty ok in general - only paying for medical card and PTPTN loan at the moment. No car loans or rent as I'm staying with my parents, I help pay for the utility bills at home too but I'm able to save about 50% of my salary?

I don't think I need this coverage since I already have my medical card...

This post has been edited by magicnox: Jul 1 2021, 02:04 PM

Ask yourself this question
1. Why do you need such coverage in the first place?
What attracted me was the fact that at least my family can get a certain amount in case anything happens (touch wood)

2. Is this necessary?
At the moment...no. In a few years, maybe - especially when I settle down and have a family.

3. What was discussed that bring upon 500k as the sum assured ?
According to the agent 500k is the sum insured, he did not really explain why but he mentioned that for accidental death it's x2 (1million) if accidental death via public conveyance x3 (1.5 million)

4. What are you not sure about ILP?
Probably part of me doubts if it's really worth it in the long run....returns and all. Also thinking about my future lol

5. I can't comment whether this is for you or not if I don't even know you & your personal finances. [It's akin to asking me to prescribe you a medicine without even doing a diagnosis/consultation]
This is true...my personal finances are generally ok at the moment. Currently living with my parents, only paying for ptptn loan & medical card. I help with my parents' utility bills as well. No car or house loan at the moment (I'd like to keep it that way for now lol) overall I am still able to save about 50% of my current salary

This post has been edited by magicnox: Jul 1 2021, 02:19 PM

Thanks for the explanation

1.5mil for annual medical limit, and my AIA plan also includes CI (100k), Personal Accident, Disability benefit (100k)

This post has been edited by magicnox: Jul 1 2021, 02:27 PM