You cant compare white label investing with MXM and lonpac.

While i do not have any actual information that MXM is a shady or a legit company, you didnt go through the buying process to actually legitly recommend it also.

https://forum.lowyat.net/topic/4919324/+2360

This was shared here by lifebalance years ago.

Side note: While i dont benefit for speaking good on behalf of GE, there is no definite proof that GE is bad at paying claims. Alot of informations are hearsay and anecdotal. That is why we have regulators.

That being said, if you all stop buying from GE, i think i benefit in an indirect manner.

For me I don't care about MXM. All I care is who is my insurer and who my contract is with who. When you buy via mxm, your contract is with lonlac and not mxm. When you get admitted, your insurance is lonpac not mxm. When you claim, it's you claiming from lonpac and not mxm. Mxm just like agent. For me I can live without agent. So no issue if mxm exist or don't exist cause at the end of the day, I am  dealing with lonpac.

Currently is by my company's insurance AIA, can get GL.

I was thinking of getting my own medical card by AIA, was told now AIA Standalone 1st 2 years ONLY can pay and claim.

Don't buy insurance for tax benefit. Buy it to use it in the future. It's something you will use unless you are unlucky/lucky (depending on like how you see it) my colleague in his 60s and never use insurance a day in his life.

Agent bluff you. Latest and newest product by aia for standalone only is AIA Medi flex. You can opt to take rider or without the rider. Rider just extend the benefit to 1m+ coverage.

It existed. I was on the old plan call AIA Medi regular before it was discontinued this year. Not sure during 2015 it already existed or not.

Some products are only available through an intermediary.

As to what an agent is suppose to do, that depends on which agent you meet 🤓

I have seen several cases now that families over pay > RM100k/year in insurance premiums for protection needs.
Best,
Jiansheng

Customized plan as well as insurance plan that you can only get via agent.

Why get from agent compared to banca?

Very simple, just imagine you got a 3-month-old child now. The child got very sick.

Would you prefer to DIY feed it with herbs or some medicine from pharmacy?
Or you prefer to go see a Pediatric?

DIY, you slowly test one-by-one your own solution and maybe take longer to find the cure for the child or take wrong medication and your child end up dead; or
The pediatric can immediately investigate, diagnose and give you the cure.

Similarly, like myself, I can find out what's your financial problem, diagnose the matter with 20 insurance companies and give you the solution.

If don't need such service, also can, you slowly test & buy one-by-one which insurance plan is best for you. Afterall, insurance is a long-term plan. You can be buying the wrong insurance for the next 20 years wasting that money or getting the right insurance that you could have had and manage your finances better.

The choice is really up to different individual. Just live with the consequence thereafter. 

I like that you asked, amidst the agent-bashing going on.

I do have a handful of customers paying 6 and 7 figures in premiums annually.
And I was referred to a new uncle recently in is late 60s.
Long story short, he was ready to cough upwards of 90k to take up a life insurance for himself as his company benefit will cease as soon as he retires.
Heng ah. Jit pai hoseh liao loh 

However upon some questioning and understanding his situation a bit more, we ended up with just a medical insurance for himself.

I reasoned his way out of taking up a coverage that would be nice to have, but totally unnecessary.
He was ready to cash out his paid-up Universal Life policy (Singapore), but I talked him into retaining it. With good reason of course.

Now of course all this didn't happen all in one sitting.
I met with him a total of 4 times, before we met on a 5th time for the application to happen.

Now this guy owned and operated a VC firm in his time. Very shrewd guy and helped connect a lot of missing dots from the stories I hear from my existing clients (somehow my main customer base are 20 years my senior at least).
It has always made me wonder why is it that these somebodies would set aside the time needed with me, while my peers and many on this great forum just fail to see past my commissions.
I got to eat too, no?

Check what was written in the notes of the refund.

Was it a takaful? It's normal for takaful to have surplus sharing (refund) if there's no claim.

Was it a Takaful car insurance company? Because in Islamic finance, they are required to pay the surplus back to contributors if there is any excess, so it is normal.