to check over-insure you will need to provide info like,

how much is your salary,
how many dependants do you have,
what is your day to day activties and
what are your worries right now if any.

in principal, if this is your 1st big life policy, then you should consider a whole life plan, term life or an endowment. it provides a more consistent pay back bonus while the assurance is guaranteed.

while unit link products also provides the same protection but there is a risk if the fund does not perform well ( loose money ) then the amount you lost may eat into the protection part, fee etc ... troublesome stuff ... if it does not eat into your protection part then it plan cannot repay itself and lapse, and usually you only find out when you want to claim it ....

so even though link products is great but for a start, buy a pure insurance product first ... especially when you are not well verse with all the differences.

after said, 100K is really something MINIMUM to start with ... I cannot imagine any 'proper' insurance lower than that. So it is VERY HARD for you to over insure in this case. However, you may over pay for the same protection thao ...

here in I give you some price guidelines ....

for a 100K Life, TPD, Accident and Critical illness protection, pure protection payment starts at RM 500. So if an insurance company offers you RM 800 or more, that is common because the remaining money is used to build your bonus or extra cash benefits. If it has features like you pay 10 years and then stop where the policy pay for itselfs, then you may expect RM 1500 to RM 1800 ( like your plan now ).

on another aspect, to compare the return of a policy, use this as comparison ....

if you pay RM 1,800 for a 100k policy ( as above ), and assume the lowest guarantee return in the market ie. FD 3%, then you should get back AT LEAST ...

15K at 10th year
24K at 15th year
35K at 20th year
62K at 30th year
100k at 40th year

hope this helps a bit ....

in short, I think you should ask your agent to propose you the same plan but as a wholelife plan OR ask for a 15 or 20 years endownment plans which could fit you best ( for now ).

1. it WILL increase after March, just a matter of how much

RM200 saving is good enough. you should learn to Save First, Use Later. Basically setup a Standing Instruction from your salary bank account and deduct RM 200 to transfer to another bank account that you will not access. This is also called Automatic Millionaire approach.

2. for parent, you should calculate how much they need to substain their life. ie. how much they use every month. multiply by how long they will live, ie. pick 100 yrs old. then that is the Sum Assure you need to buy insurance for.

3. company insurance is not a permanent thing but it is very good before you do not need to buy ALL the insurance yourself. ie. company covers you for 50K sum assured, and you need 100K from #2 calculation, then you can go ahead and buy a 50K insurance. a few months before you quite your current company ( and new company do not give you any insurance), then you will need to buy another 50K insurance ....

4. make a guess when you will buy your house, ie. next year or 3 years later etc. Then set a target ie. 100K, 200K. then understand house purchase process ie. how much downpayment, getting loan etc. then calculate if interest is 3% like FD, how much you need to save. if earning 5-8% interest, how much you need to save etc.