Insurance Talk V7!, Your one stop Insurance Discussion
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 Mar 27 2021, 10:01 PM
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#1
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Senior Member
1,330 posts Joined: Feb 2011 
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guys, want to ask, usually life insurance with investment linked and non investment linked, got huge premium differences ka?
try to get Etiqa life insurance but my medical card agent push only the investment linked one. without telling me the non investment one after asked. |
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Mar 27 2021, 10:19 PM
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#2
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Senior Member
1,330 posts Joined: Feb 2011
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QUOTE(lifebalance @ Mar 27 2021, 10:09 PM) The premium will be different for investment linked as you're able to add-on more benefits compared to a term insurance. is there a differences in premium term that I need to pay for those 2 type?Not only that, you'll be contributing extra as part of the premium will go into buying units of investment within the funds offered by the insurance company. Whether the premium is "huge" difference depends on the benefit that you've included as well as the sustainability that is included.  afaik investment link premium term should be shorter right like 10-20y and the investment acc will cover up after that? but not so sure about the non investment linked, do I need to keep paying the premium for the whole policy tenure? and also is there increasement in premium for both product or only one type will increase every 5-10y? in your opinion which product much better actually. (yeah I need only life insurance coverage/income replacement etc, not much on investment but if the investment acc can sustain on its own after I retire and I don't have to pay anymore, that would be good also.) |
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Mar 27 2021, 10:41 PM
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#3
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Senior Member
1,330 posts Joined: Feb 2011
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QUOTE(lifebalance @ Mar 27 2021, 10:31 PM) Investment linked policies do provide coverage up to the age of 100. However, you have the flexibility to decide when to terminate the life policy if you deem it's no longer beneficial for you. As for term insurance, they are renewable yearly, if you forget to make payment for it, it'll be terminated. Yes, the premium payable will be incremental as you grow older every year. Sorry, there is really "much better" product, the plan should be customized to your current/future need. I normally consult and understand my clients first before any proposal is made. QUOTE(Cyclopes @ Mar 27 2021, 10:37 PM) If it's a term policy, very likely you will pay till the end of the chosen policy term. okay thank you for the answers, I will try to consult my agent for more info and explanation and hopefully getting a good responses'Better' would depend on the term chosen, budget, sum covered among others; it can either be ILP or Term Life. |
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