totally agree.
the agent tells you to sign up early, because if you do it later, the premium will be higher. he does a projection and say that by paying this x amount at this age, the ILP can sustain until you're y years old. you agree and sign up.
after 3 years you receive a letter saying that in order to sustain until y years old, you need to top up your insurance because medical cost has gone up. so you top up. after another 3 years they tell you the same thing, this time the monthly premium has gone up more than double - yes, it happened to me and messes up with your budget / expenses. imagine like paying rm300 and couple of years down the line they tell you to pay rm800+ ?
i didn't bother to top up my premium because of the ridiculous increase. I just continue on with the old premium, it may lapse at a younger age but i also create my own insurance by putting money into savings.
I'm ok wth an increase in premium BUT it should not be of a too significant amount.

This post has been edited by abhipraaya: Jan 10 2024, 05:55 PM