Points to note when your agent changes company and suggests a replacement policy. Agents receive commission from insurance companies funded by the premiums you pay. The policy value may be affected. The replacement policy may be identical, but given the lapse of time, the operating costs and opportunity costs will be higher. Most existing Hong Kong policies have substantial guaranteed returns, set when the global interest rates were higher than today's. Most investment-linked policies offer no guarantees. Insurance premiums increase as you get older, and most traditional plans have guaranteed rates.