Do you currently work in long- or short-term insurance? Would you like to attain further training on the relevant legislation, products and personal selling skills to enhance your understanding and skills? Well, you need look no further, as Milpark Education’s Higher Certificate in Financial Products is the course for you!
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The Higher Certificate in Financial Products provides students with a broad introduction into the life insurance industry and its products. As an industry-oriented qualification, its purpose is to provide "representatives" (as defined in the Financial Advisory and Intermediary Services Act (FAIS Act)) who advise clients on basic risk and savings products with introductory knowledge, cognitive and conceptual tools and practical techniques for their current roles in industry and for further higher education studies.
Students will be equipped with the required knowledge and skills to provide sound advice to clients on products outlined in Categories B1 and B2 of the FAIS Act, while also providing them with a basic understanding of the more complex products that clients may have. The knowledge emphasises general principles applicable to long-term insurance and the application of these principles in the financial services industry.
The purpose of this industry-oriented qualification is to provide “representatives” (as defined in the Financial Advisory and Intermediary Services Act (FAIS Act)) who advise clients on basic risk products with introductory knowledge and practical techniques for their current roles. The qualification is primarily aimed at representatives who work in Long-term Insurance and/or Short-term Insurance, and who require knowledge on the relevant legislation, products as well as personal selling skills in order to be successful representatives.
The Higher Certificate in Financial Products appears on the Financial Sector Conduct Authority’s (FSCA) list of recognised qualifications for FAIS Fit and Proper purposes.
The qualification will equip students with the required knowledge and skill to provide sound advice to clients on products outlined in Long-term Insurance subcategories A, B1-A, B2-A and Short-term Insurance Personal Lines A1 of BN 194 of 2017. The knowledge emphasises general principles applicable to long-term insurance and short-term insurance, and the application of these principles in the financial services industry.
The programme would be suitable for:
Persons working in the financial services industry requiring a qualification to meet the competency requirements for FAIS Fit and Proper purposes set for Category 1 FSPs (representatives appointed to perform only the execution of sales in respect of financial products) within the subcategories of Long-term Insurance A, B1-A and B2-A, or the subcategory of Short-term Insurance personal lines A1.
Successful completion of this qualification should enable the student to:
| Module name | Offered in | C/E | Credits |
|---|---|---|---|
| Insurance – Environment and Concepts | Both semesters | Compulsory | 20 |
| Regulatory Environment | Both semesters | Compulsory | 20 |
| Risk Products | Both semesters | Compulsory | 30 |
| Personal Selling Skills | Both semesters | Compulsory | 20 |
| Investment and Savings Products | Both semesters | Electives –select one | 30 |
| Personal and Commercial Lines for Call Centres | Both semesters | 30 | |
| Total* | 120 |
For entry into the Higher Certificate, candidates require a Senior Certificate (SC) or a National Senior Certificate (NSC), as certified by Umalusi, with a minimum mark of 40% in English, the language of instruction at Milpark Education.
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 Head of School.
Cycle 1
Close of registration: 13 February 2023
Cycle 2
Close of registration: 15 May 2022
Cycle 3
Close of registration: 14 August
Why not continue your learning journey with us and apply for your Advanced Certificate in Financial Products?