Malaysia is a federal constitutional monarchy with a population of 23.3 million. The currency is the Ringgit. Since independence, the country has had one of the best economic records in Asia, with GDP growing an average 6.5% for almost 50 years . Its Life insurance industry is considered one of the fastest-emerging life insurance segments in the Asia-Pacific region. Driven by factors such as a disciplined attitude among individuals towards savings, rising levels of consumer confidence and government initiatives on tax relief, the relatively underpenetrated Malaysian life insurance segment is expected to grow.