An Investment Linked Policy is a hybrid product consisting of two different components – insurance and unit trust funds. ILPs are more affordable, especially for those in their 20s and early 30s.
It may not be practical for agents to make lengthy technical presentations on how an ILP works to most of their clients.ILP policyholders know that their premiums are fixed. But not many of them know that their actual insurance costs are not fixed and will increase as you age. 30 years later, you are now in your 50s. Your insurance cost has gone up, exceeding your “fixed ILP premium”.
If that is the case, raise it to RM350, 000 or a higher sum where the software is unable to churn out a quotation.
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