Large space for insurance consultants
According to the Vietnam Insurance Association, by the end of 2024, about 11% of the Vietnamese population will participate in life insurance. This figure in the Philippines is 38%, Malaysia is 50%, Singapore is 71%, and the US is 52%. The State has set a target of 15% of Vietnam's population participating in life insurance in 2025... and increased to 18% by 2030. The development room for the insurance market in the future is huge.
An undeniable fact is that after the Covid pandemic, people have paid more attention to their health. This contributes to motivating them to seek insurance as a financial protection against unexpected risks. According to the World Health Organization (WHO), spending on health care 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... Investment-linked insurance product lines that have both protection and accumulation features have become more and more popular.
Notably, the life insurance industry in Vietnam has just gone through a transition period and is on the way to recovery. The legal corridor of the industry has been significantly improved and changed towards closer 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 increasing training in basic medical knowledge, helping consultants support closer to reality and customer needs. All of this has created a positive foundation for the development of the insurance consulting profession in the coming time.
A solid career in 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 had jobs and developed their careers in this field. Insurance consulting not only brings stable income, clear promotion opportunities but also creates humanistic value and positive impacts on society, helping people have a reserve 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 of joining this industry, from an introvert, working in office administration for 12 years, she has had a solid career. This job allows her to proactively arrange her time, be financially independent and have the opportunity to expand relationships through meeting customers from many different industries. Continuous training, most recently being equipped with in-depth medical knowledge, is one of the factors that help Ms. Thanh confidently develop in this field.
Mr. Bui Dinh Tho (Hanoi) was an architect before deciding to switch to the field of life insurance. After 7 years of working, he is now the manager of a team of professional financial planners. This job not only helps him develop his personal career, but also creates conditions for many people to successfully change jobs and build a stable career in the industry.
According to Mr. Tho, supporting customers to access appropriate financial solutions, while witnessing the maturity of the consulting team is the motivation for him to continue to stay in the profession for a long time. Every job has challenges, but if we persistently pursue goals with a clear orientation and a spirit of openness, the results will come worth it, he shared.
Consultant Pham Van Tam (Vung Tau ward, Ho Chi Minh City) said that, in addition to a worthy income and clear promotion opportunities, working in the life insurance industry also helps him bring positive values to society. Having joined 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 financial resources to overcome their illnesses. For those who do not win their fate, their families have been entitled to the insurance payment to continue to maintain their lives. Many of his customers have successfully started their businesses thanks to the savings from insurance.
Starting the My New Life journey at Manulife, the consultant not only achieved the income worthy of her efforts, but also built a sustainable career with a clear roadmap, gradually reaching success and creating a new life full of promise.
At Manulife, each consultant is not only equipped with professional knowledge of finance - insurance, but also trained in essential knowledge of public health through cooperation with prestigious organizations such as Hanoi Medical University. This creates a different advantage, helping Manulife consultants become experts in their field, and at the same time become dedicated companions, bringing comprehensive solutions, contributing to making the lives of Vietnamese people better every day.
Learn more at www.manulife.com.vn
