My relative is a GE agent. When I asked him any medical plan without IL, he said nowadays all medical plans are ILP.

Kek.

ini benda orang tak paham

stupid i must say. only know to komplen instead of finding out.

the product not scam, but some agent [u mean most insurance company] didnt do proper explanation.

if scam, BNM already at fire since all products are approved by them.

LELS.

fired and revoked license are two different things.

misleading rarely because of the products itself. is how the agency want to tackle the product to the masses.

the guideline of the product is prepared and agreed by both parties, providers and BNM.

how to sell it, is up to the agency forces. this is where the mislead came. although BNM already came out sales guidelines or code and ethics in dealing to the masses, well, still up to the agent how to win sales.

im already out from the agency line because of this loophole. more to license financial advisers now. direct license with BNM. much better ethics in doing sales.

ini benda orang tak paham. stupid i must say. only know to komplen instead of finding out.

the product not scam, but some [most] agent [and insurers] didnt do proper explanation [resulting in BNM intervention].

if scam, BNM already at fire since all products are approved by them.

I would say unethical. If this reported by the customer to BNM, the agent will get severe punishment.

The ILP has various products. Some products only use instrument vehicle to manage the policy sustainability. Customer received benefit from this ILP by not worrying about the cash value that only be saved to support the policy. Some portion of the monthly contribution will be channeled into funds. Be it equity, balanced or fixed. So, the value inside [losses] can helps [further damage] the client in the event of contribution holiday kicks in. Not to find profit. This cash value or fund is useless as emergency funds or investment.

However, there are some products that have benefits in terms of profits. This is the kind of product being famous in midleading. Personally i dont market this products, i only market the product i stated previously. Insurance / takaful only use as protection.