Comments on: Everything about Life Insurance Company in Malaysia

By: Definition of 36 Critical Illnesses or Dread Diseases in Insurance Policy

Definition of 36 Critical Illnesses or Dread Diseases in Insurance Policy — Fri, 04 May 2012 05:39:49 +0000

[...] Everything about Life Insurance Company in Malaysia [...]

By: BelyndaOke

BelyndaOke — Wed, 29 Jun 2011 15:11:09 +0000

i have taken my pceia exam at 2009, but i din’t save a copy of certificate with me, now i am applying to become insurance agent, how do i get back that copy of certificate, can i know who can i contact and who can help me….. i dont remember the date i take exam already, currently i am a insurance agent of one company and i have my piam cert, but i only have the piam cert number, the insurance agent din’t pass the piam cert to me what should i do, now i am apply second insurance company to become their agent….. hope u can help me solve my problem. TQ

By: wei nan

wei nan — Sat, 21 May 2011 04:01:26 +0000

may i know why almost all the insurance company located at KL? all other place/state only branches or agency.
I work as IT programmer in insurance field, currently plan to shift back my hometown, Alor Star. But after search n search, hardly to get even 1 insurance company located at N. of malaysia(ii mean their IT department)?! May i know why? who can ans. me?

By: missingguy

missingguy — Tue, 17 May 2011 07:40:34 +0000

why in malaysia all the agents are fully commission based?? How come the insurance company or agency never recruit salary based agent?? is it due to responsibility and financial risk?? or is it due to culture or unsuccessful history??

thank you.

By: missingguy

missingguy — Tue, 17 May 2011 07:33:25 +0000

Hi,

would like to know where can find the rules and regulation to guide insurance agent and industry??

Also is there a rules stated that to open an Life agency needed 500k bank guarantee??

thank you.

By: KCLau

KCLau — Tue, 01 Mar 2011 08:49:06 +0000

Hi John,

I think it is because insurance company never put their effort in online marketing.
Just see how many advertisement are there in my blog that is related to insurance? Almost none.
And another thing is that insurance are mostly sold, not bought.

By: John

John — Wed, 23 Feb 2011 18:29:53 +0000

“Premiums generated via internet transactions currently account for less than 1% of total gross premiums for the general insurance business,” says a Bank Negara Malaysia spokesperson.

Although insurers have been allowed to sell insurance products to consumers via the internet since 2000, this alternative distribution channel has not grown as fast as other distribution channels. Why is this happen?

By: AskChong

AskChong — Tue, 04 Jan 2011 03:14:58 +0000

Hong Leong Assurance is aggressively recruiting new agent for Life business.

By: Netmask8

Netmask8 — Tue, 04 Jan 2011 00:42:46 +0000

Take Exam PCEIA # A ( General Insurance (Car/Home Insurance) and # C (Term/Whole Life Insurance) or CEILLI ( Investment-Linked Insurance). Pass the Exam and you may register it with any insurance companies in M’sia.

http://insurance.com.my/exam/exam_schedule_2011.pdf

Commission Based on Term (Level Term or Yearly Renewable) / Whole Life are vary depends on insurance companines after negotiate with insurance agent unions .. Usually, 1st year = 45% , 2nd year = 35%, 3rd year = 25%, 4th year = 15%, 5th year = 10% and 6th year = 5% .. If you are paying RM 2k yearly in 1st year, the insurance agent got RM 900 commission in 1st year, RM700 commission in 2nd year (if the client still pay the premium) , RM 500 commission in 3rd year …etc…etc. So, getting more than 100% commissions in 6 years based on insurance agent analysis & consultation.. Min Requirement to take Exam = SPM with 5 passes (inclduing BM) ..

By: KCLau

KCLau — Mon, 03 Jan 2011 11:09:46 +0000

It is not a requirement. But it is a good practice. Because this will avoid agents to try to get clients to sign up first but not really interested to pay. This reduce the bad proposal handled by insurance company.

By: Ak

Ak — Mon, 03 Jan 2011 09:59:43 +0000

Is it standard that every insurance company will need the 1st premium before underwrite a new proposal or commence coverage. Is this a bank negara requirements or insurance company practice?

By: KCLau

KCLau — Tue, 10 Aug 2010 06:13:24 +0000

You need to take the insurance exam. Then sign up as an agent with any of the general insurance company.

By: aqma

aqma — Tue, 10 Aug 2010 05:52:37 +0000

can i know how to be an agent for car insurance??

By: KCLau

KCLau — Wed, 04 Aug 2010 09:28:26 +0000

there is a guideline by Bank Negara. Generally, the highest commission can go up to 125% for regular premium plan with over 20 years term.

By: rubbaan

rubbaan — Mon, 02 Aug 2010 02:49:19 +0000

Can i know how much a insurance agent get his commission(%)?Is there any flat rate or the commission is based on the Insurance company?

By: YewKim

YewKim — Fri, 09 Apr 2010 02:05:53 +0000

Is this the latest data? Asia Life has been changed 2 TM Asia Life 2 yrs ago but y isn’t there any data available?

By: KCLau

KCLau — Sat, 27 Feb 2010 00:49:37 +0000

Bank Negara publishes the report every year.

By: chong boon chean

chong boon chean — Wed, 24 Feb 2010 08:55:51 +0000

hey…just want to ask regarding to the Report of Life Insurance Company financial status…where the data come from?

By: The 7 Most Essential Facts from an Insurance Claim Report |Great Eastern Claim Report

Sat, 22 Mar 2008 22:32:53 +0000

[...] claimed is from Great Eastern alone, and only for the period of January till March 2007. There are 16 life insurance companies in Malaysia. You know how to do the [...]

By: RM35,000 Cheer for Widow | KCLau's Money Tips

RM35,000 Cheer for Widow | KCLau's Money Tips — Wed, 15 Aug 2007 06:17:12 +0000

[...] My best insurance tips:Investment Replacement Feature in Investment-linked Policy that Beat Unit Trust5 Things You Can Do if Your Insurance Claim is RejectedWhen Should We Review Our Life Insurance Coverage?What Happen to your Life Insurance Without Nomination?How to Read Great Eastern Investment-linked Policy StatementEverything about Life Insurance Company in Malaysia [...]