The agent told me I may cash out 20 to 30k should the return is good, but after now they email me I have to top up my monthly payment or downgrade my plan because the premium is increased.

It is a scam lah, in long run you have to keep on topping up your
Monthly premium every 5 or 10 years, it is totally bullshit that you can withdraw the cash

Your agent drive what car?

Inflation.

Go study about it

How is it scam when he never say it is confirmed/guranteed?

This post has been edited by AnythingK: Feb 21 2024, 03:31 PM

Still, if I take insurance today with annual limit 500k

I'm entitle for my 500k annual limit

Inflation causes the increase of the things including medical stuff, which means my 20k treatment may now cost 30k..

But still I am within the amount agreed during the sign up, which is 500k

Inflation ok.. then increase premium, but I'm still covered 500k lol.. not 750k.

I won't say it's scam, because we still can use the service as per the policy..

Maybe the right word is something else, not "scam"

This post has been edited by Natsukashii: Feb 21 2024, 03:37 PM

Masili c class

who the hell keep huhah huhah insurance charge remain the same if take ILP?

insurance is about pool of money.
everyone put RM100 into the pool
if got 3000 people means that month they collect RM300k. one idiot sick and go claim 50k, the pool left 250k. if suddenly all people claim then confirm no money or have borrow from other pool.

It recommends me to top up rm133 per month, it is not a small amount, it is a scam lah, I bought this ilp is to hedge against conv to avoid premium increase. But now it is still the same has to pay more....

its not a good return

som1 here advised before just to get the insurance or coverage u wan

its sth u have to keep study or research.

its not like u pay 100 or 200 month then everything will be good till u r 75 or 100 years old

Never ever buy investment linked insurance. The only insurance you should buy is medical and life if you have family.

Investment, just invest yourself. Nowadays you can sit at home and invest worldwide...why need these leeches?

This post has been edited by CommodoreAmiga: Feb 21 2024, 03:46 PM

how old are you?

so far my ilp premium no change for 20 yrs now

Wrong.

Insurance is a big fat pool of money.
3000 ppl collect 300k.
Insurance company take 300k to invest.
End of year 50k myr claimed by the people.
When annual report, 300k become 400k due to investment.
400k give bonus and divident to shareholder then become 200k.
After 200k - 50k from the person who claimed.

Then next year send email to the person saying ur price has gone up. Please topup extra 25% of the premiums.

This post has been edited by Eulm585: Feb 21 2024, 03:50 PM

covered sum not kena inflation pun

liar liar, pants on fire

also, any upcoming vacation or not your agent?

Mostly scams to raise quick money for the insurance co to run.

impossibiru

It is possible, but insurance company will revise your coverage year become shorter, maybe last time cover until 70years old, now become 60 or less.

Double check, sked ur insulan kompeni already cancel ur coverage due to overdue payment

Impossible. Even my kid insurance kena 2 times already, medical insurance since he kecik kecik dahulu.

I have life with investment linked. Have been withdrawing for years from the linked account. Usually it takes a week to be disbursed into my own bank account.

True.

Mine also never change ever since.

All insurance agents are scammer.

Protip - Insurance agent commission is like half of what you paid for 5 years, after that it all belongs to the company.

True, i had to liaise directly with provider.

You can complain to BNM

which insurance company?

Gold class sales agent or platinum sales agent need mentenen ok... why u no purely buy medical but investment linked

Depends on policy and provider.

I think cancel it, just go gov hospital and run away after recover, Bangla also can why I can't

how about dont top up?

They make 40% to 90% of the premium u contributed

Stand alone medical card or with life insurance?

It's the premium increased due to inflation

sometimes is better to buy a whole new insurance :X

Life insurance without medical card. If you want medical card, get separate policy from other provider.

Cuz ts is also a scam account aka dupe.

medical inflation

Ceh ofcourse lah life insurance never increase lah🥵🥵🥵

Medical card is the one increase

Got pros & cons.

If jew still healthy go ahead u can do it. But beware got 2 years contestable period meaning if got major claim they can reject if dig any hole found possibility u had/related to that sickness before u bought the insurance.

So usually in order to avoid that, ppl keep the old policy running for 2 years. So u'd be paying for 2 policies for min period of 2 years.

yep, I bought my insurance in 2009, the medical card is co pay card, now they have newer one, but I need to topup a lot.

aia

but the existing policy benefit didnt inflate.

Really? My ilp also wanna to raise premium, but I refuse to top up, just maintain existing premium. So the investment part probably shrink to nothing.

Life Insurance right?

it shows you never read the "love letters" your insurance company is sending you

My insurance cover with AIA is also 20 years now, last time the cover promise me cover until 100 years. But now, a few love letters came stating that "according to the current premium you're paying, your insurance cover is project to cover you until 70 years old)

which insurance company you using? kons mentioned his AIA never increase...

Apparently kons insurance company forgot to study about inflation

my AIA insurance premium also never increase for almost 20 years (cover since 2007). But 100 years old coverage has been cut short to 70 years old unless I "top-up"

My mother's case the same, prudential promise coverage until 70 years old. But few week ago suddenly a love letter came stating "your insurance coverage will lapse next month unless you top up". She's just 67 with 3 more promised years to go

Allianz, the best medical card I surveyed. Every year burn money for nothing

From the way banks tried to hardsell all these, already known it is a scam lah. Everyone saying China investments very rosy, etc.

Who could predict the future today? But if you were not like a herd type person only you can see what happening now.

Actually this insurance is like a triangle lo

Premium (monthly payment)
Years of Coverage
Covered value

U pick 2 lo. Cause of medical inflation everything becomes costly. So if u don't top up then years of coverage OR covered value becomes less je. Usually in this case years of coverage will be shortened lo.

If you want to keep the same years of coverage and covered value, then premium naik lo. Sometimes those investment linked insurance can cover the premium naik but if premium naik too much then still kena top up.

bets C180 converted C43 or C300 bodykit

damn... they can reduce like that?

Yea that could be possible if he missed the letters.

Or perhaps he was talking about life insurance.

Wait kons verify

just park in S&p 500

yes they can, it is all written in the t&c. The problem here is alot of insurance agents do not want to tell you upfront all these t&c otherwise it will make people think twice about signing up. This is one of the very bad practice in malaysia. I feel like insurance agents should educate the client on why insurance premiums increase and why you should still subscribe by showing the facts and figures, instead of hiding stuff shadily like this

Insurance saving/investment plan has one of the worst net return la.
Most only give an effective compound return of 2.5% p.a, same as FD, but they will locked your money for decades.
Better just put it in EPF

life/tpd
medical card
multi stage crit care
and some nonsense stuff

They don't force people one. They very good let you have a "freedom" to choose whether agree to increase the premium or not.

If you don't agree, they will either
1) reduce the coverage period or
2) reduce the coverage amount/benefits.

It's not a scam....just a bad product....yhoytb for buying

As said above already, if you want insurance, then just buy insurance.

And the only 2 you need are term life and surgical/hospital....and make sure you can max your tax relief.

Forget even whole life ...if you die at 80 why need to give money to your children?

Macam play in-between

1 more thing. How much premium?

What fund you invested into?
Meantime, insurance cost risen a lot these few years

nowadays insurance company damn clever... those term life/medical, the coverage very basic and short only. if want more coverage, need to take the ILP.

This post has been edited by Matchy: Feb 21 2024, 05:21 PM

1k monthly

Ur agent amoi or batang? Pm me contact number if amoi

Coverage depends on your insured sum ...tenure you decide....both you decide and the bigger and longer the higher the premium....

Calculate based on your circumstances. I figured that my family commitments will be over by the time I reach 60, so my term ends at 60....it lapse after that, I get nothing after that....but if I live beyond, I don't need the insurance payout anymore....so bye.

Insuran u need ask bonanza question :
" If i lost one of my leg or hand can get full compensation ah ' ?

Deswai fuk mutual fund. Put in SA also better

hello sorry to interupt.

any allianz agent here?

just want to know that normally how long will it takes to complete the process
of policy surrender?

summited all required documents via email.

Repricing is nowadays getting more common and unavoidable due to rising medical inflation. Most companies underwrite a policy based on the situation at the time the policy was written. Due to rising claims especially k favourite medical card, cost of insurance has been rising. In the past people has been misusing medical card and a lot of time hospitals don’t care especially when you request to be hospitalised. Nowadays, due to insurance companies getting more strict, hospitals are now more reluctant to hospitalise people for a long period of time. Last time you need to stay 2 days in hospital before you can make claims but nowadays doctors will even discharge you on the same day if you undergo minor surgeries. A lot of people do not know that medical card biz are not profitable and that’s why they normally sell ILM products to support the medical card and make a profit.

Also, all repricing requires BNM approval and it’s not just suka-suka do only as they have to give proper justification to BNM.

This post has been edited by 30624770: Feb 22 2024, 09:21 PM