Potential of life insurance consulting profession

Large space for insurance consulting staff

According to the Vietnam Insurance Association, by the end of 2024, only about 11% of the Vietnamese population will participate in life insurance. This figure is about 38% in the Philippines, 50% in Malaysia, 71% in Singapore and 52% in the US. The State has set a target of 15% of the Vietnamese population participating in life insurance by 2025 and increasing to 18% by 2030. The room for growth of the insurance market in the future is very large.

It is an undeniable fact that after the Covid-19 pandemic, people have paid more attention to their health. This has contributed to motivating them to seek insurance as a financial protection tool against unexpected risks. According to estimates by the World Health Organization (WHO), healthcare spending in Vietnam will reach 26.9 billion USD by 2029. Not only a protection solution, insurance is also considered a new accumulation tool to serve the diverse financial needs of customers, in addition to fund certificates, securities, bank deposits, etc. Investment-linked insurance products with both protection and accumulation features have become increasingly popular.

The life insurance consulting profession is considered to have great potential for development in the future. Photo: Thu Hang

Notably, the life insurance industry in Vietnam has just gone through a transition period and is on the path to recovery. The legal framework of the industry has been significantly improved and changed towards being stricter and more transparent after reforms in 2024. At the same time, insurance companies have also made strong changes such as increasing digitalization, focusing on professional training, product innovation, especially enhancing training in basic medical knowledge, helping consultants support more closely to the reality and needs of customers. All of this has created a positive foundation for the development of the insurance consulting profession in the coming time.

A solid career from insurance consulting

In fact, the insurance consulting profession has been present in Vietnam for more than 20 years. During that time, hundreds of thousands of people have found jobs and developed their careers in this field. The insurance consulting profession not only brings a stable income and clear promotion opportunities, but also creates human values and positive impacts on society, helping people have a reserve fund against health risks, as well as contributing to reducing pressure on the State's health budget.

Ms. Tran Thi Thanh, an insurance consultant in Ho Chi Minh City, said that after 6 years in this industry, from an introvert who worked in office administration for 12 years, she has had a solid career. According to Ms. Thanh, this job allows her to proactively arrange her time, be financially independent and have the opportunity to expand her relationships by meeting customers from many different industries. Continuous training, most recently in-depth medical knowledge, is one of the factors that helps Ms. Thanh confidently develop in this field.

Mr. Bui Dinh Tho ( Hanoi ) used to be an architect before deciding to switch to the life insurance field. After 7 years of working, he is now the manager of a professional financial planning team. This job not only helps him develop his personal career, but also creates conditions for many people to successfully change jobs and build stable careers in the industry.

According to Mr. Tho, supporting customers to access suitable financial solutions and witnessing the growth of the team of consultants is the motivation for him to continue to stick with the profession for a long time. “Every job has its challenges, but if you persistently pursue your goals with a clear direction and a spirit of learning, the results will come in a worthy way,” he shared.

Mr. Bui Dinh Tho builds a career and is financially independent in the life insurance industry. Photo: NVCC

Meanwhile, consultant Pham Van Tam (Vung Tau ward, Ho Chi Minh city) said that, in addition to a decent income and clear promotion opportunities, working in the life insurance industry also helps him bring positive values to society. Joining Manulife since 2001, after more than two decades, he has accompanied and protected hundreds of customers. Many of them, thanks to participating in insurance, have had the financial resources to overcome illness. Those who could not overcome their fate, their families have received insurance payments to continue to maintain their lives. Many of his customers have started successful businesses thanks to the money accumulated from insurance.

Starting your My New Life journey at Manulife, you will not only achieve an income worthy of your efforts, but also build a sustainable career with a clear roadmap, step by step reaching success and creating a new life full of promise.
At Manulife, each consultant is not only equipped with professional knowledge of finance and insurance, but also trained in essential knowledge of public health through cooperation with prestigious organizations. This has created a distinct advantage, helping Manulife consultants become experts in their field, and at the same time become dedicated companions, providing comprehensive solutions, contributing to making Vietnamese people's lives better every day. Learn more at www.manulife.com.vn.

Source: https://hanoimoi.vn/tiem-nang-cua-nghe-tu-van-bao-hiem-nhan-tho-710605.html