Organization: Old Mutual Position: Licensed Insurance Sales Representative / Financial Advisor Location: Nationwide (Branch Network & Hybrid Options) Compensation: Base Support + Uncapped Commission Structure Sector: Financial Services / Insurance
In the economic landscape of 2026, financial stability is the primary objective for both families and job seekers. For sales professionals, finding a role that offers the unlimited earning potential of commission combined with the security of a heritage brand is rare. Old Mutual, a titan of the African financial services industry, is actively recruiting Licensed Insurance Sales Representatives for its 2026 advisor cohort.
This position is a strategic entry point into the high-value Wealth Management and Insurance sector. Unlike volatile gig-economy sales roles, this opportunity provides a structured career path within an institution that has weathered economic cycles for over a century.
For the ambitious professional, this role offers the “Golden Handcuffs” of the industry: Uncapped Commission. It is designed for the high-performer who wants to build a diversified portfolio of Life Insurance, Funeral Cover, and Investment products, securing their own financial future while protecting their clients’.
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Table of Contents
Background & Job Description
Old Mutual is synonymous with financial security in Africa. As a Licensed Insurance Sales Representative (often titled Financial Advisor), you are the face of this promise. You are not just selling policies; you are conducting Financial Needs Analyses (FNA) to help clients navigate risk, retirement, and estate planning.
This role sits at the intersection of Sales and Compliance. In 2026, the regulatory environment (COP/RE5 standards) is stricter than ever, meaning this role is reserved for professionals who are not only persuasive but also ethically sound and technically competent.
The position fits into the broader “Solvency II” and “Twin Peaks” regulatory frameworks by ensuring that customers are treated fairly and sold products that match their risk profiles. By bridging the gap between complex financial instruments and everyday client needs, you drive the revenue engine of the organization.
Key Responsibilities
This is a performance-driven role requiring high activity levels and strict adherence to compliance.
- Prospecting & Lead Generation:
- Build a robust pipeline of potential clients through networking, referrals, and digital lead sourcing.
- Conduct cold and warm calls to set up appointments for Life Insurance and Investment consultations.
- Utilize Old Mutual’s CRM tools to track client interactions and maturity dates for policy upgrades.
- Financial Advisory & Sales:
- Conduct detailed Financial Needs Analyses to identify gaps in a client’s risk cover (Death, Disability, Severe Illness).
- Present tailored solutions using the Old Mutual product suite (Greenlight, Savings Plans, Unit Trusts).
- Close sales effectively while ensuring all Record of Advice (ROA) documentation is compliant with FAIS/Insurance Acts.
- Client Relationship Management:
- Conduct annual policy reviews to adjust cover based on life changes (marriage, new children, mortgage bonds).
- Assist clients with the claims process, acting as their advocate during difficult times (death claims, retrenchment).
- Compliance & Continuous Development:
- Maintain “Fit and Proper” status by completing annual Continuous Professional Development (CPD) points.
- Adhere strictly to Anti-Money Laundering (AML) and TCF (Treating Customers Fairly) protocols.
Licensed Insurance Sales Representative 2026: Old Mutual | Uncapped Commission & Benefits
Qualifications
To succeed in this high-compliance vertical, specific licensures are non-negotiable.
Education & Certification
- Matric / High School Diploma: Mandatory minimum requirement (Mathematics/Accounting preferred).
- Regulatory Exams (RE5): For applicants in South Africa/Zimbabwe markets, passing the RE5 (Regulatory Examination for Representatives) is often a prerequisite or must be obtained within a strict timeframe.
- Certificate of Proficiency (COP): For Zimbabwe-specific applicants, a COP in Long-Term Insurance is highly advantageous.
- Wealth Management Qualification: A tertiary qualification (NQF 5/6) in Wealth Management or Financial Planning is a distinct advantage.
Experience
- Sales Track Record: Proven experience in face-to-face sales, preferably in banking, insurance, or real estate.
- Network: A localized network of potential clients (natural market) is critical for the first 3 months of production.
- Digital Literacy: Proficiency in using tablets/laptops for digital onboarding (paperless applications) is required in the 2026 operating model.
Core Competencies
- Resilience: The ability to handle rejection and maintain high activity levels.
- Ethics: Unquestionable integrity when handling client data and financial advice.
Why Apply for This Position
1. The “AdSense” Revenue Potential (Personal Income) Insurance sales is one of the few careers where your income is dictated solely by your output. With high-ticket items like Life Insurance and Lump Sum Investments, the commission splits can lead to earnings that far outstrip managerial salaries in other sectors.
2. Brand Authority Selling “intangibles” like insurance requires trust. Walking into a meeting with an Old Mutual business card removes the friction of “credibility checks.” The brand does 50% of the work for you.
3. Recession-Proof Industry Regardless of the economy, people die, get sick, and retire. The demand for Funeral Cover and Risk Protection is inelastic. This offers a layer of job security that tech and retail sectors cannot match.
4. World-Class Training Old Mutual’s training academies are legendary. You will receive tuition on tax law, estate planning, and advanced sales psychology—skills that are transferable to any high-level business role.
Application Tips & Insights
1. Leverage “Compliance” Keywords In your CV, explicitly mention “RE5,” “COP,” “FAIS,” or “Fit and Proper.” Automated Applicant Tracking Systems (ATS) in the financial sector heavily weight these compliance terms.
2. Quantify Your Sales Success Do not just say “I am good at sales.” Say: “Exceeded annual sales targets by 120%, generating $50,000 in new business premiums in 2024.” Numbers signal competence to sales managers.
3. The “Natural Market” Plan During the interview, you will likely be asked: “Who are your first 10 clients?” Prepare a “Project 100” list—a mental list of 100 people you know who could be potential clients. Showing you have a warm market ready to go is a massive hiring trigger.
4. Highlight Digital Savviness Old Mutual 2026 is digital-first. Mention your comfort with Virtual Meetings (Zoom/Teams) and Digital CRMs. The industry is moving away from paper; show you are ready for the transition.
Additional Information
- Compensation: Commission-based (often with a “bridging salary” or stipend for the first 3-6 months while you build your book).
- Benefits:
- Production bonuses (quarterly and annual).
- Incentive trips (international travel for top performers).
- Group Life and Disability cover (for the advisor).
- Work Arrangement: Hybrid. While you have a branch base, most of your work is done in the field or remotely meeting clients.
- Contract: Permanent (Performance-linked).
How to Apply
- Visit the Portal: Go to the Old Mutual Careers page (tailored to your specific country, e.g., Old Mutual Zimbabwe or Old Mutual South Africa).
- Search: Use keywords “Financial Advisor,” “Sales Representative,” or “Commission.”
- Profile: Create your profile and upload your CV and Certified Copies of your ID and Academic Transcripts (Matric/COP/RE5).
- Assessment: Be prepared for a psychometric assessment and potentially a role-play interview where you have to “sell” a product to the manager.
Frequently Asked Questions
Q: Is this a “commission-only” job? A: Typically, yes, after an initial training period. However, the commission structure is “uncapped,” meaning there is no limit to how much you can earn. Some contracts offer a sliding scale basic salary that reduces as your commission earnings grow.
Q: Do I need a car? A: Yes. For field sales roles, having a reliable vehicle and a valid driver’s license is almost always a mandatory requirement to visit clients.
Q: What if I don’t have my RE5/COP yet? A: Old Mutual often has “Incubator” programs where they hire promising talent and pay for them to study and pass these exams within the first 12 months. Check the specific listing to see if they offer “Training Provided.”
Suggested Focus Keywords
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