Life and Non-Life Insurance Associations Select 33,469 Outstanding Certified Agents This Year

The Life Insurance Association and the General Insurance Association announced on the 2nd that they have selected 33,469 outstanding certified planners this year.

The certification period is one year starting from the 1st of this month.

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To be selected as an outstanding certified planner, one must have worked for the same insurance company for more than three years, have zero cases of incomplete sales, maintain a 90% insurance contract retention rate at the 13th installment, and an 80% retention rate at the 25th installment, among other strict conditions. Additionally, there must be no record of sanctions for violations of the Insurance Business Act or other regulations in the past three years.

The number of outstanding certified planners in life insurance was 14,834, accounting for 16.5% of all candidates, an increase of 1,730 compared to the previous year. The average annual income of certified planners was 111.23 million KRW, and the average insurance contract retention rates were 98.3% at the 13th installment and 93.7% at the 25th installment.

The number of outstanding certified planners in general insurance was 18,635, accounting for 15.6% of all candidates, with an average annual income of 106.84 million KRW, and average contract retention rates of 96.6% and 90.9% at the 13th and 25th installments, respectively.

The Life and General Insurance Associations introduced the outstanding certified planner system in 2008 to ensure complete sales of insurance products and establish a sound recruitment order.

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