Does anyone know about this insurance? I got approach by the agent while taking my bloodtest at Pathlab.

How is it compare with other insurance company?

This post has been edited by starbucks_2008: Aug 29 2009, 09:39 PM

i suppose MXM offer H&S policy. you need to compare the coverages eg sickness and which MCO in charged of the policy.

Found a bit info on this thread. http://forum.lowyat.net/topic/724871

Would recommend you to buy insurance policies/medical card from the one of 16 insurance companies in Malaysia.
http://www.liam.org.my/cms/

i was approached as well. how does it compare to others?

I have not heard about this company, maybe it's a new one or it's setup to merely sell another company's insurance product.

I would suggest you to do a cost benefit comparison, do make sure you go through the coverage details carefully before deciding.

this is a bundled product consisting of a H&S plan from pacific and a PA, death/TPD for all reasons and CI insurance from mcis zurich. both insurances are reputable players. seems pathlab is offering a group policy that combines both. i will add this to my list and let you guys know about my opinion. the charges are monthly so have to upscale it. from a quick glance the medical insurnance seems pretty expensive but the added package from MCIS is interesting due to the CI/death TPD for all reasons cover. i wonder if i can get that individually from MCIS

the medical card + life insurrance package is very good.
but , how about the mxm company??

any problem, when the company deduct the monthly or yearly bill ??
bcoz if u able to introduce other people, u're entitle to get rm30 ... ..
so. ur monthly bill is not same every month ...
normally the autodebit only deduct the exact figure that has been agreed b4

This post has been edited by bob: Feb 16 2010, 12:19 PM

I went and did a google search, and found more info at mxm.com.my.

1. MXM is not the registered agent of Pasific Insurance or MCIS Zurich. PATHLAB Healthcare management is. According to the About Us Section, its an associate company of PATHLAB (Even then, no clarification on what associate means, other than its part of Kam Holdings conglomerate).

2. So, does that mean you sign up with MXM, who then signs you up with PATHLAB, who then signs you up with Pasific and MCIS Zurich? Double the agent wor..

3. Who is your servicing agent then? MXM? PATHLAB? Who do you call to confirm your claim? One thing I noticed on the medical card conditions is that your claim is subject to reasonable and customary charge. Does that mean that if the insurance, or MXM or pathlab decides thats its not reasonable, you have to pay?

4. Introduce people get RM30? Since when insurance operates as an MLM?

5. There is a picture of a membership card prominently displayed on the first page of the membership details which shows that the emergency contact is a person with a handphone number somemore. If whoever is helping me can't contact this person, is there another person they can call. Why doesn't the medical card come from Pasific insurance then?

5. Coveted Agency award is for PATHLAB, not MXM.

6. Not even a member of PIAM? LIAM? Which law do you follow then? Akta Jualan Langsung (AJL) or Akta Insurans?

7. So you get benefit of term (CI, Death, PA) + medical card. Why don't you buy directly then. Many insurance company that do Life will sell you all those.

mfitri77,

quite true. i would also prefer to just get the term benefits from MCIS directly. those benefits are pretty good - the health insurance part isnt.

customary and reasonable charges is standard for pretty much all insurances in malaysia that offer H&S plans.

i would assume in case of claim you will be best advised to talk to the insurance company itself since MXM is basically reselling only. i doubt they are any kind of insurance company themself and didnt find any evidence they are either.

That's the thing. How could you be reselling insurance. You want to sell insurance, you get accredited, you get registered, choose a principal and then sell. Reselling muddies the water, especially considering agent commitments to the client, and insurer's commitment to the client, in terms of who should indemnify and take over liability.

Seriously tempted to check with PIAM if this is legal. Imagine running an insurance like a MLM.

Insurance company = Cost

Agent of Insurance company = Cost + Commission

Reseller of Agent of Insurance Company = Cost + Comission + Reseller Profit (Buildings ain't Cheap)

Agent of Reseller of Agent of Insurance Company = Cost + Comission + Reseller Profit + Reseller Agent Commission

Water Filter are soo yesterday...

mfitri77,

i'd be interested to hear what PIAM has to say. but i fear the setup is pretty legal. the only problem would be the usage of the term MXM Insurance. if they are just broking a group contract (if you look at the application form this sems to be the case) then the whole thing is probably just a bit grey because MXM might give unexperienced people the impression that they are in fact an insurance company of their own.

but they dont claim they are. company is called MXM international (http://www.mxm.com.my/main.html), the package is called "HEALTHCARE PROTECTION PROGRAM" the whole things is packaged into a "membership" (with 30 RM discount programm, very MLM) and the premium is pretty high. pathlab is the agent for the insurance companies and MXM seems a club of some sort run by pathlab.

so if you ask me - i doubt it's illegal but i also doubt its beneficial to the members. the medical premium seems high - not too sure on the term life package. i assume a similar or better cover can be obtained elsewhere, probably even directly from the respective insurance companies.

i think your hunch about the overly inflated cost is pretty spot on. the huge discount they offer speaks for itself. i never noticed its monthly before you pointed out the discount sheme.

This reminds me what my wife once came back and told me. An agent came to her school, touting free CI cover for two years, you don't have to pay anything, just sign up and you are covered for TWO YEARS. She didn't sign up merely because I've pretty much set her policies up nicely (and for the *nakal* daughter of mine, but her friends sign up in droves.

Know what they got? *** Credit Cards. Yes, the CREDIT CARD agent actually told the Ministry in need of EDUCATION that they are offering free CI cover, got a letter supporting them going to schools and signs up teacher (which income, even at the lowest, qualifies them for a credit card) on credit cards. Even the CI policy is a joke, not worth mentioning.

People, please. YOU NEED COVER. Can't stress that enough. But a good cover cost money, and it does not come free. The best cover is a policy that stands on its own, not part of a membership card that gets you free coffee at starbucks, of free buffet dinner at some kopitiam.

You join a club or get a membership for a purpose. Join Fitness First to use the gym, join Persatuan Bulan Sabit Merah for the first aid knowledge (or the cute girls) but why on earth do you join MXM? What reason, what purpose? If its for the medical benefits as stated, then as I have pointed below, better get in touch with direct agents or go straight to the principal. Why - For one, we are REGULATED to our noses, hanky panky and WE COULD END UP IN JAIL. OR worse, TERMINATED.

The list of insurance company, and the agent representing that you should deal with is www.piam.org.my and www.liam.org.my. or www.malaysiantakaful.com.my for takaful. Any of those companies listed there are fully regulated by BNM.

base on my understanding (in blue...)

that is my basic understanding about this ..
if there is a mistake, hope someone can explain better.
actually, i still thinking to join or not ...

This post has been edited by bob: Feb 17 2010, 06:37 PM

1. To sell insurance, you must be an agent, or license by BNM to do so. Its the law. Again, if you are not a registered agent, you shouldn't even be able to talk to a prospect.

2. Why tie up with MXM then? Just go and buy direct from agent or principal, again, for what reason must I join MXM. I sell Pru policies, but I don't ask them to join Pru as members.

3. You think hospital would accept this answer when you are being admitted?

4. Who do you think pays the Rm30? The company? Please lah, the poor sod who you introduced pays your that Rm30. That Rm30 more than getting it from agent or principal.

5. So where's the medical card from Pasific then? Why give MXM branded card? Your relative can provide guarantee letter to the hospital?

6. All agents need to register with LIAM if they sell life and PIAM if they sell general. Or MTA if they sell takaful. Again, as agent selling insurance you are under the purview of LIAM, PIAM and BNM. Not AJL. MXM cannot avoid that.

7. What saving? Dude, you seriously need to talk to a proper agent. Some GI will accumulate cash value, even term would accumulate cash value over time. Trust the otai's here when they say this is not worth your money. There is no win-win situation here. You only win if you get insured from the proper party.

mfitri77,

i really appreciate your comments. good to have someone trying to sense into the interested parties.

the fact that they are willing to give the introducer RM 30 every month for every introduced member clearly shows that the product is overpriced. not only do you pay insurance profits, agent comission and MXM profits but apparently there is so much profit in this that they can offer 30 RM off too without hurting their buttomline.

if anyone likes the package, go call MCIS and pacific for the pricing if you insure directly. yes MXM got a group cover which sometimes can be cheaper but the obvious overhead and the apparently quite high prices for the end-product seem to show that those savings are not passed to the group but are beeing kept in the company.

i will check with MCIS what i would have to pay if i buy the same package from them directly. if i get an answer, i will let you guys know.

u can go direct to insurance company.
the premium bill monthly is lower than what MXM is offer.
BUT, u've to pay everything by urself.

with MXM, eventhough the price is higher but if u can get 5-6 client, then the medical card is free for you.
Bcoz for each client, u're entitle to get rm30.

remember, if there is no claim for medical expenses so whatever amount u pay monthly will consider burn. U can't claim anything. Not like life insurance coverange.

This post has been edited by bob: Feb 18 2010, 12:35 PM

Let's put a few things straight. I am an insurance agent, life and soon to be General also. If you are hankering on getting returns when you buy insurance, then you don't buy general insurance, you buy life.

In general insurance, not every policy will make a claim. That is because its a short time limited contract, eg. cover will be on a spesified period only, eg one year. After that, no more cover. Because of this, general insurance is cheaper. And no return. BUT CHEAP!

In life, every policy will make a claim. Either maturity, withdrawal, claim or whatever. We call it whole life because its more of cover until u die situation. You get return based on the type, either endownment or ILP, or accumulated cash value.

You agree that premium is lower by taking it direct, yet you argue that you have to pay yourself, because if you get 5-6 client then medical card is free. Are you joining MXM because of the medical card benefits or because you want to make untung here? Because if you want to make untung, that means you are acting like an agent for MXM.

That means you need to pay RM180, I assume a month to get the listed benefit. If you are willing to pay that much money a month, by taking an ILP you will get more benefits.

Okay, another thing is, how long does your entitlement last? The whole year?

General medical cards are also now giving out NCB, eg discounts on renewal if you don't make a claim. Life also now starting to give cash bonus for NCB for medical cards.

They final point here is this. We think this is a very bad idea, considering the higher premium you pay. Get better cover, better policy somewhere else, or get direct.

its up to the user.
u can pay less, by urself
Or .... pay more but can get its for free if u can get others to join.

afterall, the medical expenses is covered by insurance co. too

no harm at all

i believe this is a new scam of MLM.

Looking into this further, what I found is if this is a group policy issued by Pasific and the agent is Pathlab, and they are promoting this as a membership thing, they would have to go under section 186 of the Insurance act. That means whoever is selling this gorup policy has to disclose ;-

No person shall arrange a group
policy for persons in relation to
whom he has no insurable interest
without disclosing to each person

a. Name of insurer

b. Relationship with insurer

c. conditions of the group policy, Including remuneration payable to him

d. premium charged by the licensed insurer


They can't hide how much premium Pasific is charging, and how much they get from the deal. If they do so, then breach of section 186.


* Goes under section 152, Insurable interest - Policyholder that have insurable interest, like

a. spouse, child or underage ward

b. employee

c. notwithstanding a, a person who is wholly and partialy dependant