AKARD Awards
A story was written in an ancient Babylonian clay tablet, 5,000 years ago, about a man who through self-discipline and prudent management of his money, discovered the magic of compounding interest from his method of saving regularly and re-investing a percentage of his income. Wise as he was, in the art of wealth accumulation and wealth preservation, he became the richest man in Babylon, during his lifetime. This man was ARKAD, who was trusted by the good king Sargon. The King entrusted ARKAD to teach the people of Babylon the art of accumulating wealth.
Inspired by this story, NAMLICA recognized the role played by the life insurance professionals and financial advisors, who help people to plan and accumulate wealth for their future and that of their loved ones, while at the same time providing the vehicle of life insurance to create an umbrella which shields and protects, against the loss of the human economic value.
This gave birth to the AKARD AWARD in the year 2004, wherein only those who were eligible for membership were allowed into this elite club. Today the AKARD AWARD represents 5% of the top producers in the industry.
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AKARD PERSONAL AWARD
This award is in recognition of Individual, who help people to acquire the art of wealth accumulation, preservation and distribution.
AKARD LEADERS’ AWARD
This award is in recognition of Leaders, who share their abundant passion, knowledge and skills, to build individuals to become successful as Life Insurance professionals and/or Financial Advisors.
AWARD CATEGORIES AND QUALIFICATION CRITERIA OF THE 2025 AKARD
1) AKARD Personal Gold
i. Production requirement to qualify for 2025 AKARD Personal Gold is RM113,000 of eligible production credit.
ii. A minimum of 60 percent (RM67,800 paid FYP) must come from policies listed under Unlimited Credit (See Item 1).
iii. Additional premium credit may come from Limited Credit. Anyone applying for Personal Gold will be ineligible to qualify for Personal Platinum, Personal Diamond and Personal Titanium within the same award year. All rules and regulations concerning AKARD members apply.
2) AKARD Personal Platinum
i. Production requirement to qualify for 2025 AKARD Personal Platinum is RM225,000 of eligible production credit.
ii. A minimum of 60 percent (RM135,000 paid FYP) must come from policies listed under Unlimited Credit (See Item 1).
iii. Additional premium credit may come from Limited Credit. Anyone applying for Personal Platinum will be ineligible to qualify for Personal Gold, Personal Diamond and Personal Titanium within the same award year. All rules and regulations concerning AKARD members apply.
3) AKARD Personal Diamond
i. Production requirement to qualify for 2025 AKARD Personal Diamond is RM375,000 of eligible production credit.
ii. A minimum of 60 percent (RM225,000 paid FYP) must come from policies listed under Unlimited Credit (See Item 1).
iii. Additional premium credit may come from Limited Credit. Anyone applying for Personal Diamond will be ineligible to qualify for Personal Gold, Personal Platinum and Personal Titanium within the same award year. All rules and regulations concerning AKARD members apply.
4) AKARD Personal Titanium
i. Production requirement to qualify for 2025 AKARD Personal Diamond is RM1,125,000 of eligible production credit.
ii. A minimum of 60 percent (RM675,000 paid FYP) must come from policies listed under Unlimited Credit (See Item 1).
iii. Additional premium credit may come from Limited Credit. Anyone applying for Personal Titanium will be ineligible to qualify for Personal Gold, Personal Platinum and Personal Diamond within the same award year. All rules and regulations concerning AKARD members apply.
5) AKARD Leaders' Direct
i. Production requirement to qualify for 2025 AKARD Leaders’ Direct is RM450,000 of eligible production credit.
ii. A minimum of 80 percent (RM360,000 paid FYP) must come from policies listed under Unlimited Credit (See Item 1).
iii. Additional premium credit may come from Limited Credit. All rules and regulations concerning AKARD members apply. Leaders’ Direct is defined as business from the Leaders’ Direct Unit Performance.
6) AKARD Million Dollar Agency
. Production requirement to qualify for 2025 AKARD Million Dollar Agency is RM1,000,000 of eligible production credit.
ii. A minimum of 80 percent (RM800,000 paid FYP) must come from policies listed under Unlimited Credit (See Item 1).
iii. Additional premium credit may come from Limited Credit. Anyone with RM3,750,000 eligible production credit must apply for the Mega Million Dollar Agency category. All rules and regulations concerning AKARD members apply. Million Dollar Agency is defined
7) AKARD Mega Million Dollar Agency
i. Production requirement to qualify for 2025 AKARD Mega Million Dollar Agency is RM3,750,000 of eligible production credit.
ii. A minimum of 80 percent (RM3,000,000 paid FYP) must come from policies listed under Unlimited Credit (See Item 1).
iii. Additional premium credit may come from Limited Credit. All rules and regulations concerning AKARD members apply. Mega Million Dollar Agency is defined as business from the Leader’s Direct Unit Performance and direct down line Managers. Excluding direct break-away / spin-off.
8) AKARD Star Rookie
i. Production requirement to qualify for 20 AKARD Star Rookie is RM83,000. New agents (Rookie Agents) may qualify once in his career. Production count includes all business done within the first twelve months from date of agents’ contract.
ii. A minimum of 60 percent (RM49,800 paid FYP) must come from policies listed under Unlimited Credit (See Item 1).
iii. Additional premium credit may come from Limited Credit.
iv. There are two accepted scenarios:
a. The Rookie agent fulfils production requirement within 12 months shall apply for AKARD Star Rookie before closing date.
b. If the 12th month goes past the closing date, Rookie agent shall apply the same award before the closing date in the following year.
9) AKARD Builders
i. Definition of Agency Leader in this context will include Agency Managers’ and Unit Managers’ direct agencies.
ii. AKARD Builders Award is divided into 4 categories and Agency Leaders can apply for only one award category subject to a minimum number of qualifiers within the agency as follows:
– Silver – 3 AKARD Awardees
– Gold – 6 AKARD Awardees
– Platinum – 9 AKARD Awardees
– Diamond – 12 & Above AKARD Awardees
**Compulsory to attach name list and NRIC no. of awardees (kindly ensure they are AKARD awardees at point of application along with Company Certifying Letter, failure to do so will result in disqualification
10) AKARD 101
Minimum 101 cases (new cases written and stay in force within the calendar year)
11) AKARD Life Members
An individual becomes a qualified AKARD Member for the year when his/her application papers are approved. Anyone who qualify as a 10th time AKARD Member can apply for AKARD Life Member without any additional payment provided that their NAMLIFA membership is still in force. Life status is maintained in future years by submitting an application each year with production or attesting to having met current minimum production levels and by paying the required dues.
APPLICATION CHECKLIST
+ VERIFY that all information is correct. Mark any corrections directly on the application.
+ ANSWER all questions completely, and provide additional information where warranted, such as Certifying Letters and information relating to complaints.
+ INCLUDE additional Certifying Letters if you are applying using Production Credit other than your Principal Company.
+ PAY all fees due by completing the credit card information area or by bank transfer to NAMLIFA account.
+ SEND your signed application form, including dues and any additional information to a [email protected] on or , before 30th April 20 25 to avoid th e late filing fee.
AKARD CODE OF ETHICS
Members of AKARD should be ever mindful that complete compliance with and observance of the Code of Ethics of AKARD shall serve to promote the highest standards of membership. These standards will be beneficial to both public and the insurance/takaful and financial services profession.
Important Note:
NAMLIFA reserves the right to reject the application or withdraw the Award (if the award has been presented) if and when a member is proven to have committed any breach of conduct in relation to misrepresentation, mis-selling, phantom agent and all the like. NAMLIFA also reserves the right, at the discretion of the National Council, to announce such decision in the press. All payments made by the member to NAMLIFA shall not be refunded.
THEREFORE, MEMBERS SHALL:
1. Always place the best interests of their clients above their own direct or indirect interests.
2. Maintain the highest standards of professionalism and give proper advice to clients by seeking to maintain and
improve professional knowledge, skills and competence.
3. Hold in the strictest confidence, and consider as privileged, all business and personal information pertaining to
their clients‘ affairs as required under the PDPA 2010.
4. Make full and adequate disclosures of all facts necessary to enable their clients to make informed decisions.
5. Maintain personal conduct, which will reflect favorably on the life insurance/takaful industry and the AKARD.
6. Determine that any replacement of a life insurance/takaful or financial product must be beneficial to the client.
7. Abide by and conform to all provisions of the laws and regulations in the jurisdictions in which they do business.
APPLICANT CERTIFICATION STATEMENT
a) I have read, understood and agree to abide by all the provisions of the AKARD Code of Ethics and the Applicant Certification Statement included in this material.
b) My application to AKARD does not include any business resulting from the cancellation or surrender of an existing policy, except for that portion of any such issued business which is in excess of the original AKARD credit of such cancelled or surrendered policy or policies.
c) I am personally eligible for the production credit claimed. I am entitled to all future credit on my paid business as reported; I have not assigned or promised to assign any of these credits. Full details of any exceptions are attached.
d) If I am a member of a corporation, a partner in a partnership, or associated with a corporation or partnership as an employee on a salary or percentage of production basis, I have taken credit only for the proportionate share of paid business to which I am entitled under the terms of my agreement with my associates.
e) If I am a manager or leader, I have taken credit only for business to which I am entitled. No part of my qualification credits arise through spin-offs or equivalent.
f) No credit has been claimed for my business, which is beyond the limitation on personal production on my life, my spouse or dependents.
g) I HEREBY AUTHORISE NAMLIFA to obtain from all sources such additional information and documents as it deems necessary in connection with this application for previous years. I hereby agree to cooperate fully in obtaining and submitting such additional information and documents, including but not limited to my hereby waiving of the privileges of any privacy laws. I hereby agree to cooperate fully in obtaining and submitting such additional information and documents to release it, without incurring liability to me, to NAMLIFA’s request. NAMLIFA and upon