In order to understand about this issue, I will briefly talk about the mechanism of Investment link product(ILP).

ILP is designed in such a way that the premium you paid(a portion of it for the first 6 years) will be used to purchase fund unit and then the accumulated fund unit will be used to pay for your insurance charges.

What is insurance charges?
Every of the rider you added in will incur a charges. Cost of insurance (COI) aka Insurance charges will increase over the time according to the mortality and morbidity table.

The accumulated of the fund unit after deducted the COI, the left over will be your "cash value" aka saving.

The reason you may upgrade your protection without upgrade your premium is because your "cash value" have enough fund to sustain your policy without increasing the premium. The "cost of increasing benefit" is absorb from your cash value instead from your additional premium.

Please take note that since COI is increasing over time, without proper planning, the fund might be depleted and might need to top up at later year.

Well, I'd advise you to look into the new medical card feature as the insurance charges is affordable and the benefit is great, with over a million annual limit and unlimited lifetime limit.

For age 60 years old, male, class 1, non smoker, the annual COI only additional RM442. It's great value for money if you don't plan to upgrade your medical card for another 30 years.