Regarding ILP vs STANDALONE.

This is a data that I got for standalone plan...just for discussion sake

I don't hv the ILP version,....I only got the data for the standalone plan.
In 2011 age 39, premium was 930
In 2024, age 52, premium is 3430

For a coverage of 300k lifetime.

In 13 years, the quantum of increase is just staggering ....$2500 or 268.8% increases.
( every year about 20% increase??)

Looking at the quantum of rate increases, I believes the premium may reach 5k in another 5 yrs at age 57, then may even reach 10k at 68.
The chances of needing medical claims would be alot higher at age 68....insurance company will be happy I cannot continue to afford paying the premium ...

If one is not wealthy, .... May really "eats" into the budget of the retirement plan.

I always envy those that had bought the 1 mil standalone med coverage at young age....hopefully they can hv the mean to sustain it before they die

Just hopefully someone can provides comparison of the quantum of rate increases of ILP Vs STANDALONE plan .

What is lower cost or cheap to buy now may not be so after the premium increases...





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There are always will be someone going against any topic.

Just because of some "certified" people says it is good...do you fall for it that that things really suits you?

Just bcos some actuaries or doctors says it is good...




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I had heard stories of waiting lists of some normal emergencies like stent procedures can be long in govt hospital

medical insurance premium increases are a very common occurrence until there are numerous similar threads in LYN

Insurance Premium Naik!
https://forum.lowyat.net/topic/5396455

Medical card premium increased
https://forum.lowyat.net/topic/5049342/+20

medical insurance cost sudden increase 29%, normal !?
https://forum.lowyat.net/topic/4753108

Insurance companies announce higher premiums, Do we really need medical card?
https://forum.lowyat.net/topic/4894421/+0

Prudential Medical card premium increase, Medical card
https://forum.lowyat.net/topic/5125897

AIA naikkan my premium
https://forum.lowyat.net/topic/4865841

WTA Insurance premium increase
https://forum.lowyat.net/topic/4784419/all

Insurance premium increase due to age factor
https://forum.lowyat.net/topic/4771163/all

go look for the statistic of insurance sales of ILP vs standalone....
perhaps can get more input

they have nothing to sell to you but they may not provides the FULL pictures...

just like some people that from their "experience" promotes money games or stock trading or forex tradings etc etc....
they don't sell those products to you,...but they may not provides the FULL pictures

This post has been edited by MUM: Jan 10 2024, 09:21 PM

they memang have nothing to sell to you but they may not provides the FULL pictures...

just like some people that from their "experience" promotes money games or stock trading or forex tradings etc etc....
they don't sell those products to you,...but they may not provides the FULL pictures

there are others financial planners that promotes ILP too...they are legit too.

EACH have their point of views,....the issue is which point of views do you liked to follow?

if you liked STANDALONE,... so go with it,....
i also bought STANDALONE in 2011 and 2008, ...i hv experience to tell that just beware and take notes of the "quantum of rate of increases

looking at the sales of ILP more than Standalone insurance policies,....there must be something going on....perhaps agents pushes more or more people knows about the quantum of increases or ???

that is i suppose to be the same for standalone policy too....but they have a clause inside that mentioned they can increase the premium at anytime they want too

when you change policy or insurance company,...do take note of the "no coverage" period or periods that will be subjected to detailed scrutiny if you claim.
lagi worst, they may not covers you preexisitng illness if any

This post has been edited by MUM: Jan 10 2024, 11:37 PM

that means you will have paid 2 insurance premiums for that period.. perhaps 2 years of contestability period?

This post has been edited by MUM: Jan 11 2024, 12:03 AM

Set aside funds for self insured. You have to be persistent in topping up that fund.
1 month set aside 1k, yearly returns averaged 6% ( conservatively)
1 year = 12k
10 yrs = 120k + app roi 40k = 160k

If got medical need, you only hv 160k to use.

12k per annum insurance premium can get his much medical coverage?

Go for self insured plan if you are sure you will not need medical spendings of more than 150k in the next 10 yrs?

In that 10 yrs, if you had made medical spending of 150k, the money from your self insured plan will hv to start from 0. ...that is the time you may need more medical spendings as you are now 10 yrs older, or needed more medical follow ups.

Also, you will need to have to come out with money for deposit during admission and discharge....well unless your CC has high limits then that is not a concern


This post has been edited by MUM: Jan 11 2024, 08:16 AM

Passive investment thru stock investing???

Ha ha, ..that is a "good" way to gamble with money for risk mitigations

This forummer (imaged) had this to says about his "investment" too.

There are also many in forex or stock forums also said making 10-15% per month in their investment activities .

Just a note of concerns: Your money earned in the 1st 10 yrs may not last 1 major surgery and its follow up treatment .....


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I would say, they do it intentionally to slowly increase the premiums and to avoid a sudden big increases that would made customers angry and raises BNM queries.
As they are "allowed" to make periodic increases to suits the "said" medical inflation

Well said, ..as there is no way can get the same proficiency, thus I will definitely not subject my dependent of money for risk mitigations to it.

I think I did read Ramjade posted about the commission rate breakdowns about a year or 2 ago

Which one get more commission?.. I think since the premium for ILP is more, they will get more.

Try buy online ...May bypass the agent commission?

This post has been edited by MUM: Jan 11 2024, 09:15 AM

Good one

I think few years ago BNM had already had them made a more stringent projections by narrowing down their projected numbers??



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Ramjade, I think if I can remember correctly, the commission rate is not that low....
Did I remembered it wrongly?

Perhaps ask BNM to tighten the projection "range"??

Is it not something like 55, 45, 30, 25....
Reducing yearly for a few years?