karazure, anangryorc,
that's why you go with standalone. Whatever increase they already write out and inform you upfront before you sign the form. Of course can increase more than what they stated but all this increase usually affect ILP. That's the reason I avoided ILP at all cost.

If you are still healthy, can surrender the ILP and buy standalone one.

Maybe increase some more?

This post has been edited by Ramjade: Jul 28 2023, 02:27 PM

No. I guess it's BNM rules that they have to invest locally. There are some global funds but never pure US fund.

To add on, if a fund is not performing, then increase in premium is likely going to be more frequent. Increase in premium is cause by
1. Not much money left in the pool as lots of people claim
2. Underperforming or not performing funds
3. Medical inflation

They are just act like online agent. The main company is who fi.life is distributing for. For medical it is generali Malaysia (previously AXA).

You buy from what company is the same. All ILP will have this problem. Only way to avoid this problem is buy standlaone. But standalone can also have this issue if say not enough money in the insurance pool already.

Their PA don't think it's under Generali.

That's not how insurance work. Insurance works by collecting everyone money into a pool which is use to pay someone whenever claims are make.

Now if everyone don't claim then the pool remain constant. If people start claiming, it will come a time when there is not enough money for everyone. So because you are in the pool, you are also forced to pay up even though you never claim. Cause not everyone so good hearted don't want to claim.

Think of it as a reservoir. When reservoir no water, water rationing affects everyone.

Imagine you already pay so much for insurance, to get back some of the money back, you need to get yourself admitted or else money wasted right? So if one person think like that, you bet there will be others who also think like that.

Also the coverage amount is the same but the sustainability (means the insurance can last until xyz years) will decrease if you don't agree to increase the premium.

This is what my agent said not I said, standalone tends to follow the projected rate increase and yes there are some years which are exception while ILP won't follow the timetable. So some people get increase in price as early as 2 years.

That's why I didn't go with ILP. I was like I already pay so much and you want me to pay extra money every now and then when the insurance company request? Nope. Not going to happen.

This post has been edited by Ramjade: Jul 29 2023, 04:37 PM

In theory. But in reality different story. I was luck I did research here and on Reddit and found out the truth.

Yes what you said is true but that's for the old plan. Nowadays all new plan does not have that clause anymore. That's the not guaranteed clause. Nowdays insurance only won't cover if you
1. Don't pay on time/fully pay
2. Commit fraud
3. Surrender policy

That was one of my main criteria make sure there is guaranteed renewal. I said I don't want your word, I want black and white from company. She pull up the contract and it's stated there policy will be renew unless the above happen (can't remember the whole terms an condition)

This post has been edited by Ramjade: Jul 30 2023, 01:14 AM

Or else how will they make you buy? Many people got hook to ILP because if so call stable premium.

Term la. I won't waste good money by paying for things I don't want and are useless.

Er no. That's why it's call investment linked. You choose the fund and they buy the fund and you get charged 1.5-1.8%p.a

Physiotherapy, medications cover la.


If you buy medical rider with the ILP, then overtime no more surrender value cause ILP with medical rider will become zero or negative.

You can buy great Eastern, aia, prudential shares and go makan. One in sg, one HK, one UK.

I am ordinary people. So not applicable to me. I only buy what's available on the market. Nothing specially tailored.

What insecured? I know what I want and I shop around for best price. I have no brand loyalty. I think you are got mixed up. I have always said Cimb sg have the best SGD to MYR rate. I have always said CIMB Malaysia have lousy rates even though TransferWise got fees and CIMB Malaysia market themselves as no fees. The net SGD you received after using Cimb MY and TransferWise for huge transfer is significant (you received less SGD by using CIMB MY). Like I said, I shop around. I have compared maybank, Hong leong, uob, standard charted, public bank, cimb, OCBC, all give rubbish MYR to SGD rates. That's why I never recommend anyone to use banks.

Kindly checked again/ask your agent to give you the sustainability table. In the beginning yes, yes you will have cash value. But towards the end of the insurance say when you are 60-70 years old, there is usually no more cash value left unless yours is not medical insurance.

Nah. EPF one doesn't have coverage of min RM1m. Anything that does not have RM1m coverage automatically I disqualified them. Also EPF does not have medical insurance. Correct me if I am wrong.

This post has been edited by Ramjade: Jul 31 2023, 09:17 PM

Read carefully. CIMB Malaysia have lousy rates. CIMB sg have good rates.
If you are moving RM to SGD don't use banks.
If you are moving SGD to RM use cimb SG. Yes there is a fintech which I know offer better rates than comb sg but it's only available for people working there or staying there not for regular poor human like me.

You go check yourself. I already check DBS, CIMB, Maybank and transferwise.

There is. You need to do research.

There is a fintech in Singapore that give better rates than what cimb sg is offering. I have seen their rates. Like I said kindly do research.

Anyway stay on topic please. This is about insurance premium.

This post has been edited by Ramjade: Jul 31 2023, 09:40 PM

Don't worry. I am still sane. You can discard or ignore what I have wrote or do your own research.

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

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