INSETA is a South African organisation that promotes the acquisition of skills within the insurance and related service industries. As part of its commitment to education and workforce development, INSETA offers many bursaries and grants. One such known bursary is the INSETA Insurance Sector Skills Fund (ISSF) Bursary Programme.
The aim of the INSETA ISSF Bursary Programme is to help students who aspire to acquire qualifications in line with the insurance sector. The bursary programme strives to bridge the gap in skills between what the industry requires and what students have by giving financial support to deserving students who cannot afford to pursue education. In this article, let us know about the INSETA ISSF bursary, what the INSETA ISSF bursary 2024 is, its requirements, how to apply for it and the closing date of the bursary.
What is the INSETA ISSF Bursary?
INSETA’s Insurance Sector Skills Fund (ISSF) offers bursaries for African learners who wish to work in insurance and related fields in South Africa. The ultimate objective of this bursary is to fill the knowledge and skills gap within the insurance industry by creating access to educational opportunities for worthy students. The INSETA ISSF bursary aims to increase professionalism and competitiveness through an educated workforce.
INSETA was established in March 2000 as part of the South African government’s initiative to promote skills development across various sectors. It operates under the Skills Development Act of 1998 & the Skills Development Levies Act of 1999. These acts were part of the post-apartheid government’s efforts to address historical inequalities in education and employment. The ISSF was created to collect skills development levies from insurance sector employers and use these funds to support education and training initiatives, including bursaries.
Eligibility Requirements for INSETA ISSF Bursary
To be eligible for the INSETA ISSF Bursary, applicants must meet specific criteria:
- Candidate must be a South African citizen
- Candidate must be in Matric (in 2023) or have completed Matric
- The candidate can be unemployed and fall between the age18 to 35 years old, and the candidate must be employed.
- The candidate also must be studying or intend on studying at a recognised tertiary institution in South Africa (preferably towards a course in the Insurance and related sectors)
- In case of employed applicants, attach the Letter of Employment
How to Apply Online for INSETA ISSF Bursary?
The application process for the INSETA ISSF Bursary involves several documents, typically conducted online:
First, you need to download the application form from the INSETA ISSF official website and then attach the following documents:
- Attach a Recent, certified copy of a valid South African identity document.
- The recent, certified copy of a valid matric certificate (Grade 12).
- Attach a copy of the acceptance letter from an accredited institution.
- Your Certified copy of the latest academic transcript or record on official letterhead.
- Add Tuition Fee/Course Quotation
- Accommodation Fee/Quotation
- Attach the proof of Registration (where applicable)
- Add a recent certified copy of the breadwinner’s, parent’s, and guardian’s valid South African identity document. Or Death Certificate/Affidavit in case of parents/guardian’s death.
- Alternatively, attach the most recent (3) months’ bank statements or payslips (for both parents or guardians).
- Attach the SASSA letter/Affidavit of both parents/guardians if the grant recipient.
- POPIA Form
- A completed ISSF Bursary Application form.
- Learner Agreement
- Letter of Employment (for employed)
What is the INSETA ISSF Bursary Monthly Allowance?
The INSETA ISSF Bursary provides recipients with a monthly allowance to cover essential expenses. This allowance helps students manage their living costs while focusing on their studies. Typically, the allowance covers the following expenses:
Accommodation: To assist with housing costs, especially for students who need to live near their educational institution.
Transport: To help students with commuting expenses during their education.
Books and Study Materials: To ensure students have the necessary resources for their education programme.
Living Expenses: To aid in covering daily living costs such as food and personal items.
The exact amount of the monthly allowance may vary based on the student’s specific needs and the funding available.
What is the INSETA ISSF Bursary Closing Date?
The closing date for the INSETA ISSF Bursary application is a crucial detail for applicants. For the most accurate and updated information, applicants should regularly check the INSETA website or contact INSETA directly. Applications of the bursary should be submitted before the closing date to avoid disqualification.
For any enquiries about the INSETA ISSF bursary online application, contact:
Head Office
Email: issfenquiries@inseta.org,za
Phone: 011 381 8900
Conclusion
The INSETA ISSF Bursary is a valuable opportunity for South Africans who want to work in the insurance field. Its significance lies in the fact that it caters to people from all walks of life through financial assistance that ensures equal education access. Those intending to apply must read through its terms keenly to meet the deadline and be considered. They must know about the application process, the documents required, and the deadline for the bursary.
About to take your first step towards bursary application? Regenesys is here to provide you with the course quotation to assist you in beginning your journey for the bursary. Besides, our career counsellor will offer you guidance to help you navigate the bursary application process. Connect With Us Now!
Frequently Asked Questions – INSETA ISSF Bursary 2024: Eligibility & Requirements
1) Who is eligible to apply for the INSETA ISSF Bursary?
Applicants must be South African citizens with a strong academic record (often a minimum of 60% average in matric or previous year of study). They should be continuing or planning to pursue qualifications relevant to the insurance sector at an approved South African university or college. The financial needs of students are also critical criteria.
2) What qualifications does the INSETA ISSF Bursary cover?
The bursary primarily covers qualifications relevant to the insurance sector. This includes but is not limited to, degrees in actuarial science, risk management, finance, accounting, business management, economics, statistics, information technology (especially in fields like data analytics and cybersecurity), and insurance-specific courses.
3) What costs does the INSETA ISSF Bursary cover?
The bursary typically covers tuition fees and prescribed textbooks. In some cases, it may also provide allowances for accommodation, meals, and transportation. However, the coverage can vary yearly and based on the specific bursary awarded, so it’s best to check the current terms.
4) Can international students apply for the INSETA ISSF Bursary?
No, the bursary is only available to South African citizens.
5) What happens if I miss the closing date for the application?
Applications submitted after the closing date are generally not considered. It is crucial to submit all required documents before the deadline.
