1 What is Insurance?
Insurance is an agreement where, in exchange for a payment called a premium, a company or the government commits to providing compensation for specific losses, damages, illnesses, or deaths. With this, anyone will be able to safeguard his or her affairs and loved ones from financial losses.
2 Why should I Study Insurance as a Course?
Insurance as a course is an exciting path to follow. Studying insurance policies and risk analysis as a student might improve the chances of securing a mid to top management position.
Your expertise in the subject is also limited to just one path; it can also open doors to various career paths, including but not limited to banking, brokerage, and financial services. This study not only enhances job opportunities but may also lead to higher salaries for Graduates of the course.
Note: Please be aware that the requirements listed below may vary in some schools. In such cases, it is recommended to refer to the PDF version of the JAMB Brochure for accurate information.
3 O’Level Requirements to Study Insurance
Faculty of Administration
SSCE Applicants who want to study Insurance at the participating Universities will need Five (5) SSCE credit passes, including English Language, Mathematics, and Economics, plus any two (2) of Accounting, Business Methods, Commerce, Government, Geography, and Statistics. Two sittings are usually accepted except a school requests only one sitting.
Faculty of Social and Management Science
To study Insurance under the Faculty of Social and Management Science at a university in Nigeria, you need to have five (5) SSCE credit passes, which must include English Language, Mathematics, Economics, and two (2) other relevant subjects.
7 FREQUENTLY ASKED QUESTIONS
Is Insurance a Commercial or Art course?
Insurance is a commercial course. In most Nigerian Universities, the course usually falls under the Faculty of Administration, not Arts. However, it can still be studied by an Art Student but it will largely depend on the subjects taken in the SSCE.
Can Science Students Study Insurance?
Science students who want to make a change will be able to study Insurance. However, This will depend on whether they meet the subject requirements in their SSCE.
What Jobs can I apply for after studying Insurance?
After completing a degree in Insurance, you can pursue diverse career paths, including roles such as Insurance Underwriter, Insurance Broker/Agent, Claims Adjuster, Risk Analyst, Actuary, Loss Control Specialist, Insurance Consultant, Insurance Operations Manager, Claims Manager, and Insurance Compliance Officer. These positions span various functions within the insurance industry, offering opportunities in underwriting, claims assessment, risk analysis, and managerial roles. Additionally, the skills gained can be applied to broader financial and risk management positions across different sectors.
How many years does it take to Study Insurance?
It takes a minimum of 4 years to earn a degree in Insurance. However, if you are a direct entry student, this should take at least 3 years since you are more likely to start from the 200 Level.
What is the cut-off mark for Insurance?
Students who score at least a minimum of 140 in the JAMB UTME are eligible to participate in the POST UTME as part of the requirements for applying to study Insurance in their chosen universities.
Note: Note that the conditions mentioned above might differ in some universities. In such instances, it is advisable to check the PDF version of the JAMB Brochure for precise details. You can also access Jamb Subject Combination for other courses.