Foundation in Life Insurance Products

Welcome to the “Fundamentals of Life Insurance and Product Development” program! This comprehensive learning initiative has been designed to provide participants with a solid understanding of key concepts related to life insurance products, the product development cycle, types of riders, and the structure of life insurance policy provisions contracts.

By the end of this program, participants will not only have a solid grasp of the basic concepts of life insurance but will also be well-versed in the intricacies of product development, types of riders, and the structure of life insurance policy provisions contracts. This knowledge will empower them to navigate the dynamic landscape of the life insurance industry with confidence and expertise.

Recommended for

  • New entrants in the insurance companies / Takaful operators
  • Newly recruited agents

1 & 2 July 2024
9.00 a.m. - 5.00 p.m.

Method: In-Person Training
CPD Hours: 14
Registration Closing Date:
26 June 2024

About the trainer:

LAU GAK HOW (ELWIN)
B.Sc (Hons) (UK), MFP(Aust), ANZIIF(Senior Assoc), ChFC, CFP, RFP and Shariah RFP

Elwin has been actively involved in insurance industry for more than 25 years. He has held various positions as Manager of Underwriting, Branch Head and Head of Operations and Customers Service. He holds a Bachelor of Science (Honours) and a Master in Financial Planning. He is also a Senior Associate of The Australian Insurance Institute and New Zealand Institute of Insurance and Finance (ANZIIF).

He currently provides financial planning consultancy to both individual and business owners in the financial services industry. He serves as Treasurer of the Malaysia Financial Planners & Advisers Association.

He also conducts regular trainings in technical insurance with The Malaysian Insurance Institute (MII) and various other institutions in financial planning for professional examination. He is a certified trainer for MII, RFP programmes and CFP programmes.

Elwin is a Chartered Financial Consultant (ChFC), a Certified Financial Planner (CFP), Registered Financial Planner (RFP) and Shariah Registered Finnancial Planner (Shariah RFP).
Course Outline
Day 1
  • History
  • Life Insurance Products - Worldwide
  • Types of Life Insurance Products
  • The Pricing Strategy of Life Insurance Products
  • Introduction to New Product Development and Product Life Cycle
    Strategies
  • Reasons for New Product Failures
  • Main Stages in New Product Development:
    » Idea Generation
    » Idea Screening
    » Concept Development and Testing
    » Business Analysis
    » Market Strategy Development
    » Product Development
    » Product Implementation
    » Post Implementation Review

Day 2

Definition of Basic Plans

  • Individual
  • Group
List of Basic Plan
  • Endowment
  • Term insurance
  • Whole Life
  • Investment Link
  • Annuity
  • Hospital and Surgical
Definition of Riders
  • Total Permanent Disability
  • Term Rider
  • Accidental Death Benefit
  • Hospital Income Benefit
  • Waiver of Premium

Standard Policy Provision
  • Basic Plan - Individual
  • Basic Plan – Group
  • Riders

Contact Info

The Malaysian Insurance Institute 197701004772 (35445-H),
Level 6, Bangunan AICB,
No. 10 Jalan Dato’ Onn,
50480 Kuala Lumpur, Malaysia 

Tel : +603 2712 8882

Email : customercare@mii.org.my

Customer Service Virtual Office: Open from 10:00 a.m. to 12:00 p.m., Mon-Fri

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