Are you being called to a career in commerce? Does the short-term insurance industry interest you? Or are you wanting to apply for the designation of a Fellow (FIISA) awarded by IISA? Why not consider enrolling in Milpark Education’s Bachelor of Commerce with a major in Short-term Insurance?
Offered via Distance Learning (DL) and Distance Learning Online (DLO) - Click here to find out more about our Ways to study
The current drive to expand and professionalise the short-term insurance industry requires the development of people with general business management skills and an in-depth understanding of the workings of the short-term industry.
This option provides a strong foundation in general business principles and the required accounting, marketing, economic and quantitative skills. The additional modules allow the student to acquire detailed knowledge of the key principles, rules and theories that underpin the short-term insurance industry.
Students who complete this major will further gain knowledge on a wide range of products, including specialist products available in the short-term insurance industry. Combined with a sound understanding of the regulatory environment and of the practices involved with claims, underwriting procedures and the principles of risk management and reinsurance, students will be enabled to make ethical and professional decisions based on short-term insurance industry-specific scenarios as reflected in the Case Study module.
The purpose of the Bachelor of Commerce (BCom) degree is to provide a broad but solid educational foundation to students in the field of commerce, including various key discipline areas such as business management, accounting and economics. The qualification has been designed to provide the knowledge base, practical competence and
The programme would be suitable for:
Successful completion of this qualification should enable the student to:
Kindly note that there is an overview factsheet available that provides information on all the different BCom majors offered by Milpark.
MAJOR: FINANCIAL PLANNING: 405 CREDITS
|Semester 1||Year 1||Year 2||Year 3|
|Generic||Induction to Business Studies*
Principles of Microeconomics
Principles of Accounting
Introduction to Business Management
|Specific to major||Legal Framework**||Commercial Lines
Commercial Property and
Business Interruption Insurance**
|Semester 2||Year 1||Year 2||Year 3|
|Generic||Principles of Macroeconomics
Applied Financial Accounting
Business Law BLAW
|Specific to major||Personal Lines Insurance**||Liability Insurance**
Advanced Insurance Products**
|Total credits per year||164||130||122|
* Please note that Induction to Business Studies and Business Numeracy are only offered via Distance Learning Online (DLO) and should be completed in the first semester of study.
Also note that:
Liability Insurance and Short-term Insurance Environment will be offered in both semesters
Commercial Property and Business Interruption Insurance is offered in Semester 1; while Advanced Insurance Products, Case Study and Reinsurance are offered in Semester 2.
On completion of the Personal Lines Insurance and Legal Framework modules, a student can apply to receive a letter of completion for the Short-term Personal Lines Insurance class of business.
If the candidate matriculated in 2007 or earlier
Candidates who matriculated in 2007 or earlier require:
1. A Senior Certificate with matriculation endorsement/exemption for degree studies. Candidates who have a Senior Certificate but who do not meet the matriculation endorsement/exemption requirements stated above, may apply to Universities South Africa (USAF), for mature age exemption (https://mb.usaf.ac.za/); and
2. A symbol of E or higher for Mathematics on HG, or a symbol of D or higher for Mathematics on SG. Candidates who do not meet the Mathematics requirement may be offered admission on condition that they successfully complete the BCom bridging programme, if they have achieved at least a symbol of E on HG or a C on SG in any two of the following subjects:
If the candidate matriculated in 2008 or later Candidates who matriculated in 2008 or later require:
1. A National Senior Certificate (NSC) with a minimum of 50% in four NSC 20-credit subjects, including English as the language of instruction at Milpark Education, as certified by Umalusi. Candidates who have a National Senior Certificate (NSC) but who do not meet the matriculation endorsement/exemption requirements stated above, may apply to Universities South Africa (USAF), for mature age exemption (https://mb.usaf.ac.za/); and
2. A minimum mark of 50% for Mathematics or 70% for Mathematics Literacy. Candidates who do not meet the Mathematics requirement but who have achieved a minimum mark of 50% or higher in any two of the following subjects may be offered admission on condition that they successfully complete the bridging programme:
Candidates who have completed a relevant Higher Certificate (NQF 5) or Diploma (NQF 6) in the field of business or commerce, may also be admitted to the BCom degree.
Any applicant who has a certificate other than a South African National Senior Certificate has to provide:
Milpark admits a small number of students onto its programme via Recognition of Prior Learning (RPL). Applicants interested in applying via RPL will be considered individually by the relevant Dean.
Distance Learning Online (DLO)
Distance Learning (DL)
|Cycle 1||Semester 1|
|Close of Registration: 17 January 2023||Close of Admission/application: 3 February 2023|
|Close of Registration: 17 February 2023|
|Cycle 2||Semester 2|
|Close of Registration: 14 March 2023||Close of Admission/application: 7 July 2023|
|Close of Registration: 15 July 2023|
|Close of Registration: 27 June 2023|
|Close of Registration: 22 August 2023|
Description to be added