Careers in life insurance
Published on: Monday, April 15, 2019
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This is what you would have heard about careers in life insurance. Is it true ?

Many think that a job in life insurance means just being a salesman or an agent. Yet, like any other financial institution, life insurance companies offer a whole spectrum of job opportunities. 

A career in life insurance is not only challenging, it also carries the satisfaction of helping others secure their financial standing. You help people realise and fulfil their financial goals whilst you fulfil yours along the way. 


Excellent prospects 

Statistics have shown that the life insurance industry in Malaysia has grown over the years. Growth in the industry is expected to continue. 

Therefore you should look at it as a long-term career rather than just seeking a job. A career in life insurance provides the satisfaction of helping people to meet their financial needs. 

Growing with an organisation, learning and acquiring technical skills as well as grooming oneself professionally should be the main agenda rather than aiming for mere financial rewards. 

You must be aware that you too, have a responsibility to help build great organisations, and to build the workforce of the future. 


Job security and satisfaction

With the Government’s emphasis on establishing Malaysia as a major insurance centre, there is high demand for skilled personnel in life insurance industry. 

This is spelt out in the Government’s Transformation Program. As part of a ten-year government initiative, it certainly will assure you of a long-term job security. 

Life insurance companies are always keen to select candidates who have completed or undergone a more holistic education.

 Besides getting their degrees, graduates who possess a positive attitude, integrate well, independent, multilingual, flexible and believe in personal development, will succeed better in their corporate life. 

These personal traits will also help them to adapt and perform well in teams. 

So if you have the above personal qualities within you, you’re on the high road to a promising career in insurance. 


Attractive salaries and employees benefits

Financial institutions are among the best paying employers. 

Remuneration for both junior and senior staff within the life insurance industry is competitive. 

Employees will normally enjoy the benefits which include medical, dental and life insurance; housing and renovation loans; sports and recreational facilities. 


Career prospects and training 

Life insurance companies do recognise the importance of promoting and advancing staff from within, and hence provide comprehensive training and development programmes. 

New entrants to the life insurance industry will normally be given opportunities to attend a wide range of courses to improve their skills or obtain professional qualifications conducted either by the Malaysian Insurance Institute (MII) or other recognised institutions. 

Training added with a wide range of positions available, will ensure that you acquire and sustain the flexibility in deciding your future career moves. To begin your career in life insurance, you need to have some related qualifications of the industry. 

Listed below is Certification and Professional Programmes offered by the Malaysian Insurance Institute (MII) for your consideration.


Types of Positions

There are a number of options to choose from for a career in life insurance. 

As financial institutions, life insurance companies will have openings in the marketing, distribution, actuarial, underwriting, operations, claims, customer service, investing, human resource departments and many more. 

(Source: Life Insurance Institute of Malaysia)

Career Tips

School leavers, college and university graduates who are interested in this field should learn about the industry by attending a certificate course offered by MII. 

With the basic product knowledge you will be able to understand the industry better.

 If you enjoy meeting people, helping people and working with people, you will be able to progress better. 

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