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...

Bro, even FIRE bloggers in Singapore also advised against taking ILP. These people got nothing to sell me. No course. They just blog to share experiences.
I wish that is true. Medical insurance with limit of rm1m+ need to go via agent. Those no need medical insurance usually limit is RM100k+.

Also the only insurance with 1m+ limit which don't need agent is Fi.life (partner with Generally Malaysia)

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

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

To to top it all off, the insurance only insured you up to like 70-80 years? Just when you need it most, they don't want to even insure you. Wise up.
Insurance is a risk calculated business where insurance company always win. How else they can afford a full color centerspread on newspapers announcing the success of their sales managers every now and then. They money comes from you. And when they increase the premium, did you see if they actually increase your coverage value? Or your coverage remains the same while they increase your premium stating higher medical cost but they conveniently did not increase your coverage... points to ponder. Mine did not increase the coverage while increasing the premiums and it's beyond 40% increase.

I had the same issue and I interpolated the increase amount up to age 75 when they stop insuring. The amount is staggering and I decided I am not going to do that.

Set aside funds for self insured. You have to be persistent in topping up that fund.

That's the scammy part. They can do a better and more accurate projection at the beginning so that the customers can anticipate and make better planning for it. But they won't, because if they show the real numbers, the people who willing sign up for their ILP (most profitable product) will reduce significantly.

Is the insurance reliable say when you need it the most when there is no agent to follow up for you?

Or is the insurance agent basically using the same escalation protocol as you like calling the same support line/raising ticket.

How much a value agent can bring to you VS without? anyone walked through these experience on their own before?