I am curious...
this thread is "How to deal with medical insurance repricing?".

So how?
agents recommend ILP... DIY gurus recommend DIY with medical cards only and invest outside...

any other solutions beside be healthy?

for new medical plan introduce, is it having new pool of fund? i'm curious...
if like that, isn't it advantageous for healthy older people to join new plan? while young and latecomer participant will bear higher cost when they get older due to the plan no longer in the market and early participant may already 6 feet under or end their policy already...

Hi, i see my plan has Smart Medic, Smart Medic 99, Smart early payout critical care, Critical illness benefit rider, IL Waiver of premium plus rider.

Based on the breakdown of my premium paid statement, about 80% of the premium is related to medical.

I am just wondering how come the increase can be so ridiculous, 56% is no joke at all....

Age moving to costlier bracket is completely priced into the cost of insurance at inception.
that is why I asked to check if the steep variance is also due to fallen into next age group pricing.
Without confirming that, but just highlight the 56% increase could be not giving the fuller picture of the situation
Medical inflation is also somewhat priced in.

What is not priced in adequately at the point of purchase, is the loss of good risks and a higher proportion of bad risks within the pool.

It depends , dire emergency still we do it on the spot.
but if government facility too crowded then the waiting list will be long like fck.

example Appendix usually called at midnight, Acute Cholecystisis for Lap Chole is literally back of the waiting list.

If emergency which involve life and death, yes you will get treatment asap. Others wait your turn.

Sharing with you the insurance charges for an ILP underwritten by AIA, for reference 

Yes. But not subjected to most of the time non performing funds.
Hence only you get hit by the insurance part and not hit 2x (fund not performing and insurance part)

Very easy only. Every time the fund not performing well they can increase the premium and give excuse insurance not sustainable. I don't want them to give me  that reason to hike my premium.

Now do you want to be subjected to that excuse like every year (cause the fund is like dead weight over long term)? I don't. I rather get hit on the insurance part. They cannot give me BS oh fund not performing so not sustainable excuse to raise my premium as I don't have any fund for them to manage.

If fund not performing, fire the fund manager and not ask the one buying insurance to pay for the losses.

Of course. I found out ILP cheaper. But after hearing about "voluntary top-up" and making it sustainable than both came to more or less the same thing.

It's simple crude excel file of using the projected premium they give.

Tell me why should I pay extra for incompetence of the insurance company?

Do you think it's voluntary? It's more like being forced. If you don't pay your age sustainability decrease. Does that sound voluntary to you? If you don't top-up and no issue happen then it is voluntary.

Also like I mentioned, Every time fund making losses I have to increase my premium? Eventually the amount of top-up/increase premium will get excessive.

Bro I don't think you get my point.
Standalone you are only dealing with 1 point of increase in premium.
ILP you are faced with 2.
Insurance and fund not performing part. It matters if they are competent or not. Cause if a fund manager is competent, the ILP is paying for your insurance. If a fund manager is not competent, you have to pay for insurance and losses of the fund
If you have looked at the fund performance across most of the ILP (AIA, GE, prudential, allianz, Manulife, Tokyo marine) for past 10 years you will be very worried and won't even want to park your money with them.
Actually there is another one. Management fees of around 1.5%p.a

So don't laugh too early.

Let me put it straight by giving you a very easy example.

Insurance increase regardless standalone or ILP for simplicity sake increase RM10/3 years.

ILP increase say RM5/2y for bad performance.
1y no increase
2y RM5 for ILP
3y RM15 total for ILP 10 for standalone
4y RM20 total for ILP
5y no increase
6y RM35 total for ILP 20 for standalone
Get my point?

So my point is why should I take on the extra RM5 incurred by the ILP for bad performance?

Another example
My friend borrow my car. He kena saman. I need to pay his saman. Why should I pay his saman? Just because he used my car?
I should be paying for my saman and not his saman. Same thing. If you like to pay for other people saman, be my guest. 😂

Who cares about voluntary top-up for standalone? You can choose to pay until what age you want. If you can't afford to pay premium for that year, it's gone. Bye bye. Simple.
Next year you know already roughly say, I need to pay around say 7k, need 1y to get 7k. Let's make it 10k. Budget the 10k ready.
Eg, you plan to cover until 70. At 60 years old you can't pay. Then bye bye.
As long as can pay you can continue paying until 99 years old.

ILP if you refuse to increase premium, your coverage duration decrease. Same thing. If you plan to cover until say 70 years old, insurance company keep increasing premium and you already on the lowest tier plan and can't downgrade anymore, like it or don't like it, your coverage ends at 60 (likely sooner) once the fund have no more cash value cause you need to pay to keep the investment part active. So at age 60, if you cannot do volunteer top-up, your insurance ends at 60 year old. End of story.

just got the repricing for my parent. Just bought it 2 years ago, now gotten the letter for repricing and its 50% increase. Below screenshot top is the repricing letter, bottom is the quotation premium projection signed on day 1.

This is a standalone medical plan, maybe if we have bought ILP it could have cushioned the increase?