Insurance is one of those industries that is more or less unaffected by the state of economy. In fact, during the period between April-November 2017, the cumulative new business premium of all life insurance companies rose to Rs 1,22,937 crore from Rs 1,03,405 crore! The insurance sector of India is expected to grow tremendously in near future.
Wouldn't you like to become a part of this growing industry? Not as a policy holder, but as as an insurance agent! An insurance agent sells insurance policies to the customers on behalf of the insurance company he is associated with. Insurance agents may sell one of many different types of insurance, including life, health, automobile, and liability insurance.
How to Become an Insurance Agent
Selling insurance is rewarding career and has amazing growth potential. There are so many other unique advantages and benefits. To become an insurance agent, you may follow any of these ways to get started:
Now-a-days, all reputed insurance companies have robust recruitment programs. It involves a step-by- step process starting from screening, followed by extensive in-house training and IRDAI exam. Once you clear the exam, you become an official insurance agent advisor.
If a company believe that you are a fit candidate to sell their insurance policies, then you will have to undergo recruitment program. The recruitment program includes screening process followed by extensive in-house training and IRDAI exam. Once you clear this exam, you become an official insurance agent of the company.
The criteria an insurance agent needs to fulfill according to IRDA
IRDA is the insurance regulatory authority in India. As per IRDA, any person who plans to becomes an insurance agent needs to fulfill the following criteria:
Minimum 12th std passed for urban areas and 10th std passed for rural areas (population >5k). Candidate needs to be complete 50 hours of training from an IRDA approved training institute for General/Life insurance licence or 75 hours training for a composite licence. Candidate needs to clear IC33 exam for Life Insurance & IC34 for General Insurance licence.
Benefits of Becoming an Insurance Agent
There are so many benefits of becoming an insurance agents. Here are few of them:
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