@chretien22 Hi OP, i think it may be more purposeful for yourself to discuss with someone (who hopefully is not an insurance agent because i worry you end up just getting confused about buying another insurance product) about what you want to achieve from your insurance planning.
I think you are confused about what coverage you have and what is out there.
To put it simply, you are paying RM325 a month, and your medical coverage is 1.3mil, Critical Illness coverage is 52k, death coverage is 52k.
Can you get cheaper out there with a different plan, be it IL or non-IL? Probably yes. I am not sure but you have to survey.
Is it beneficial then for you to switch to a cheaper plan if it cost you only rm250 now. The answer to this is more tricky. Changing insurance plan is not like changing postpaid plan. There is alot of fees that you have paid. And you may pay more if you buy a new one. Which is why BNM always have this warning that they force the companies to put in. Buying a life insurance is a long term commitment, it is not advisable to switch plans due to the high initial cost.
But what most people dont know is, you can go back to AIA ask to reduce the premium instead of getting another plan that cost 250. There are limitations to this but for simplicity, let's assume it can. In the world of mobile postpaid plan, it may have the same effect. In the world of insurance it is not the same. I dunno how to explain how it's not the same but that warrants a separate reply and post all together.
The actions available to you arent just 0 and 1 where you keep or you say bye bye. There is something in between.
Good luck.