Cambodian Life is a new company offering life insurance, a service previously unheard of in the country outside foreign firms.

Established in May with co-operation between the Ministry of Economy and Finance and foreign companies from Indonesia, Thailand, China and Hong Kong, the company now operates out of the 21st floor of the Canadia Tower.

Mom Pagnahei, the marketing manager of Cambodian Life Insurance Company Plc., says that his organisation provides three kinds of services.

The first allows people to become the beneficiaries of their life insurance policy if they live to the age of 90, the second provides life insurance coverage for a limited period between three and 10 years, and the third provides for the coverage of an outstanding loan for a deceased person with a life insurance policy. To purchase life insurance, a person has to be between 20 and 60 years old.

“Knowledge about insurance is still limited among Cambodian people,” said Pagnahei. “This service will help customers decide how to make a long-term plan for their life. If a problem occurs, they will able to escape from any crisis that results and be able to keep their property because our company will respond to their needs.”

Before buying this service, the customer is required to pass a health check, which presents a new incentive to encourage Cambodian people to care for their health.

You should consider this service if you love your life and your family, since it is able to give financial protection in the case of your absence and it creates savings and inheritance for loved ones.

Since it is the newest service in Cambodia, there are quite a lot of job opportunities for youth. According to Mom Pagnahei, said that the he is currently seeking 10 new staff members to work as salespeople. If the company progresses well, he will recruit even more in the future.

“We are giving opportunities to the young. There are not many requirements for applicants, just some related skills plus some talent, and then we’ll give training sessions about our products to them,” Pagnahei said.