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Professional Certificate in Life Assurance (PCILA) is a specialized program focused on providing comprehensive training in the realm of life insurance. Tailored for individuals already working or aspiring to work in life insurance roles, the course extensively covers principles, technical aspects, and practices specific to life assurance. Participants gain expertise in life insurance policies, risk assessment, underwriting, product development, and claims management within the context of life assurance. Emphasizing compliance with legal and regulatory standards, ethical considerations, and industry best practices, the PCILA aims to elevate participants’ proficiency and knowledge in the field, enabling career advancement and specialization within the life insurance sector.
Upon completion of the programme, a PCILA holder is eligible for exemption of 7 credits if he / she pursues AMII level 1.
Recommend For
- Life insurance professionals
- Individuals pursuing a career in life insurance industry
Enrolment Requirements
- SPM
- GCE ‘O’ level or equivalent or higher
Modes of Exam
- Computer‐Based Exam (CBE)
- Virtual Computer-Based Exam (VCBE)
Programme Objective
The objective of the programme is to provide insurance personnel with the specific operational and analytical knowledge and skills to analyse and conduct a wide range of routine and non-routine life underwriting tasks or life claim task. The combination of both practical and theoretical aspects in this programme will support Life Underwriters and Life Assessor in their career development and job advancement. PCILA is also useful for customer service personnel and agents.
Learning Outcomes
Programme Modules
Module 1
Insurance Principles and Market Practice (Life)
- Risk & Insurance
- The Insurance Marketplace
- Principle of Insurance (Conventional and Takaful)
- Insurance Regulation and Consumer Protection
- Medical & Health Insurance
- Legal Aspects of Life Insurance
- Life Insurance Products
- Life Insurance Premium Rating
- Life Insurance Underwriting and Documents
- Life Insurance Claims
Module 2 Stream A
Introduction to Life Underwriting
- Introduction to Basic Life Underwriting
- Who is the underwriting personnel?
- What are their authority and approaches?
- The principle of Risks selection
- The tools of Underwriting
- The classification of Underwriting
- The Underwriting process
Human Anatomy & Physiology
Introduction to Anatomy and Physiology
- Introduction of Human Anatomy
- Overview of entire body systems
- Related disorders and diseases based on each body
- system
- General information:
- Definition
- Causes
- Signs & symptoms
- Risks factors
- What to expect?
Module 2 Stream B
Introduction to Claims Practice
- Introduction to General Principles of Insurance
- What is Insurable Interest?
- Indemnity
- Utmost Good Faith
- Duty of Disclosure
- Proximate Cause
- Contribution
- Subrogation
- Basic types of Life Policies and scope of coverage What is a Life Insurance Policy?
- Term Insurance
- Endowment
- Supplementary Rider
- Various Types of Life Claims
- Basic Legal Aspects of Insurance
Human Anatomy & Physiology
Introduction to Anatomy and Physiology
- Introduction of Human Anatomy
- Overview of entire body systems
- Related disorders and diseases based on each body system
- General information
- Definition
- Causes
- Signs & symptoms
- Risks factors
- What to expect?
Module 3 Stream A
Life Underwriting Technicalities
- Underwriting Individual Life Insurance – Medical Risk factors.
- Underwriting Individual Life Insurance – Financial Risk factors.
- Underwriting Individual Life Insurance – Personal Risk factors.
- Underwriting business insurance, specialized policies, replacements and supplementary benefits Underwriting business insurance
- Financial assessment of a business
- Business valuation/ Key man life insurance
- Employee benefit plan
- Creditor insurance/ Partnership
- Underwriting Individual Health Insurance
- Underwriting Group Life & Health Insurance
- Group Insurance Underwriting Activities
- Risk assessment for Group Insurance
Legal Aspects of Life Insurance
- Sources of Malaysian Law
- Formation of a life insurance contract
- Insurable Interest, Proposal Form, Duty to Disclose & Misrepresentation. Provisions under the FSA 2013
- The Life Policy
- Life Insurance Agent and related provisions in FSA.
- Premiums
- Beneficiaries
- Assignment
- Trust & Statutory Trust
- Policy lapse, Non -Forfeiture, Surrender and Reinstatement.
- Life Claims Management Concept
- Payment of Policy Moneys
- Discharge of Life Policies
- Bankruptcy and Inheritance
Module 3 Stream B
Effective Claims Practice
- Types of hybrid policies and scope of coverage
- Types of Life Claims
- Basic Legal Aspects of Insurance
- Application of Financial Services Act (FSA) to Life Claims
- Claims Management Concept
- Claims Management Definition
- End to end process – from registration, investigation to payment of Claims.
- Registration of Claims
- Documentations for a valid Claim
- Policy Conditions
- Exclusions and Endorsements
- Appointment of Adjusters and Investigators
- Fraud Detection
- Assessment of Claims
- Insurance Payment
- Handling Complaint
Legal Aspects of Life Insurance
- Sources of Malaysian Law
- Formation of a life insurance contract
- Insurable Interest, Proposal Form, Duty to Disclose & Misrepresentation. Provisions under the FSA 2013
- The Life Policy
- Life Insurance Agent and related provisions in FSA.
- Premiums
- Beneficiaries
- Assignment
- Trust & Statutory Trust
- Policy lapse, Non -Forfeiture, Surrender and Reinstatement.
- Life Claims Management Concept
- Payment of Policy Moneys
- Discharge of Life Policies
- Bankruptcy and Inheritance
Programme Structure
Course level : Certification program
Course Duration : 70 hours
Assessment Structure : Examination (100%)
Exam Format : Multiple Choice Questions
Exam Duration : 1.5 hours
Exam Mode : Computer Based Examination (CBE)
Passing Mark : Minimum 70%
Dates
TBA
Fees
Course Fee:
- 4,300 MYR (inclusive 6% SST)
- 2,452 MYR (inclusive 6% SST) for CMII holder who has applied and received approval for exemption of module 1
For new students (1st time registration): Student registration fee + Individual membership = 200 MYR
Additional Information
Class Details
Intake 2024 :
Note: Programme is offered as in-house only.
Exemption
MII Recognition of Prior Learning (RPL): Exemption for Module 1 is permissible at MII’s discretion