Possible More Commission For Agents

Earlier, president of National Association of Malaysia’s Life Insurance & Financial Planning Advisers (Namlifa), Sethu Karuppan said in line with its vision and mission, Namlifa would continuously engage in activities that could help elevate the livelihood and professionalism of their members.

He said activities such as ManLIFPs, Mega Convention and Akard Award ceremonies were examples of their contribution towards the life insurance industry.

According to him, Bank Negara Malaysia is concurrently embarking on a semi-liberalisation exercise on the cost control guidelines, introduced in 1996. He said it was well intended to benefit consumers and to create a competitive atmosphere amongst the insurers, in a healthy environment.

Namlifa, he pointed out, as an important stakeholder, would continue engaging with BNM and LIAM to ensure that a fair and equitable method of practice was in place that would ensure a win-win situation for the consumers, shareholders and the agency force.