They must keep a lot of reserves. If suddenly got terrorist attack to hit many2 tower , they may need to bankrupt

This post has been edited by Accord2018: Aug 1 2023, 07:47 AM

Agent will definitely said that due to increase in medical fee, you have to pay more premium in order to secure higher limit of medical insurance coverage.

Mine previously premium naik but coverage remained

Prudential

Did you recently had some health declaration that your insurance co found out?

maybe you went for a health screening and it reported to your insurance co?

Perhaps you can adjust, say don't want increase premium but reduce your coverage or investment.

Got nothing to do with health condition. Cause by only 2 stuff.
1. Investment not performing
2. Not much money left in the pool already

Usually increase premium and coverage stays the same.
Can't reduce the investment part as it's already fixed in the plan.

This post has been edited by Ramjade: Aug 1 2023, 01:04 PM

No unker had no health issue, from what Unker found out this is normal practice for all insurance company.

oh ok makes sense.

investment was supposed to support the premium.

don't quote me, as I do not know for sure.... but I think terrorism or war may not be covered automatically.
have to buy separately....

So now everything is affected by inflation?

Same shit with my GE.

terrorist attack is usually excluded from the policy

Always remember,

Insurance premiums =/= insurance charges

Take the premiums as your account’s credit and the charges as your monthly/yearly subscription fees.

Their relationship is roughly like below


You’re paying a roughly fixed sum everymonth to that your interests (hopefully) earned are enough to pay off your exorbitant insurance charges when you’re old. If insurance companies forecasting that your interests are unlikely to last till the projected age, they’ll push you to increase your monthly premiums.

That been said, insurance charges after you’re over 70 are high and ridiculously high when you’re closing towards/over 80. It became a luxury to pay the yearly charges and keep your policy active.

This post has been edited by msacras: Aug 1 2023, 02:19 PM

None of the insurance company can maintain the ILP premium with their investment. All of this ILP are deliberately designed to trap the customers to buy the ILP early and increase the premium later on.

This post has been edited by poweredbydiscuz: Aug 1 2023, 02:22 PM

Could i ask u for further details as I myself at the juncture of selecting either standalone or ILP..

So your premium is RM213/month for an ILP, may I know when did you sign the contract, what the original premium was and until what year was the ILP projected to last, eg: 70 years old?

I have a feeling that a lot of agents often do not disclose that ILPs are quite prone to frequent increase in premiums due to mediocre returns from the funds. In fact, most agents I have dealt with actually emphasize that the premium you pay for an ILP is "fixed" until the end of the contract...

You can see example here. Kindly take your time and read through.

But yet ppl trust them and still continue to support their Lamborghini.