Why commit yourself to insurance with ILP. Just buy those stand-alone. I bought 3 policy from different insurer and you can stop those that you don't need at that point and just pay for the medical insurance.

HLA Medical sum insured @ 690k lifetime - 120k annual - continue paying till I'm dead.
Manulife term life insurance @ 250k - stop when my kids reach 25y.o.
AIA for CI @ 250k - stop when my kids reach 25y.o.

For the next 10 years:-
Insurance premium average is about 2.5k a year for myself.
Add in 2 of my kids insurance will be 4.2k a year average.
Add in my wife insurance will be 5.5k average a year.

If a family of four sign up to ILP for 200 a month x 4 x 12 months = 9,600 a year. A 4k difference not exactly a lot but why buy a huge sum insured?

Many consumer still don't a clue on insurance and the unlimited lifetime limit medical card to me is gimmick.

Last year my wife relatives admitted to hospital then only i know if your medical bill cost 150k and your yearly limit is 100k you will have to pay the 50k from your pocket even though your lifetime limit is unlimited. So pray that your annual limit is enough for any major operations.

Increase in cost of insurance applies to all if your premium is not sustainable you will have to pay more also. The cash value that you have is to pay for the increase in insurance cost when you get older. While your money stuck in ILP I can choose where to invest my money and can choose to terminate my CI and term life. For you, your choice is either continue or totally don't have any insurance coverage if you choose to stop.

Hopefully my company can sustain my living expenses if I no longer able to work.