14/01/2015

How to be an Insurance Agent in India

How to be an Insurance Agent in India


Any Person after qualifying the minimum criteria laid down in the IRDA Act is eligible to be an insurance agent in India. The individual agent processes business in his own name and he can take agency for one life and one non life company. For taking an insurance agency the candidate must directly approach the insurance company where he wishes to join. The insurance companies will bear the cost of the training. On successful passing of the exam the person will be awarded a certificate, on basis of which he will get the license from insurance company to work as an agent and procure business for the company. IRDA has issued guidelines for licensing of the insurance agents. www.irdaindia.org .

Any person who wants to be an insurance agent in India must have completed 18 years age. Minimum qualification to be an insurance agent is 12th Standard or equivalent examination conducted by any recognized Board or Institution if you are residing in a place with a population of five thousand or more as per the last census. A person who want to be an insurance agent in India need to pass in 10th Standard or equivalent examination from a recognized Board or Institution if he is residing in any other place.

Any person who want to be an insurance agent in India have to pass through a Practical training of 50 hours at our IRDA approved training centers and 75 hours of training in case of life and general insurance agency. Training is to be spread over 3 weeks and 4 weeks respectively. There is relaxation of hours to 50 and 70 respectively in case you have certain extra professional qualification. In case of renewal of licenses for existing agents, the hours of training required is 25 and in case of life and general insurance 50 respectively. After successful completion of training the person will have to appear for Online Examination and Pass in examination with 35% marks to be conducted by NSEIT, Mumbai or any other body approved by IRDA for 100 marks in 2 hours.

Any person who wants to be an insurance agent needs to possess some personal skill besides the legal qualification. An agent should put the client’s needs first. An agent who is only out to earn a commission, regardless of the needs of the client is not likely to last long in the business. An insurance agent needs to give good customer service to their customers. One of the major complaints of those who buy life insurance policies is that there is no one around to answer their questions after they have purchased the policy. An agent should have the ability to listen and empathize with clients. A good agent is tactful and knows how to help a client.

One of the basic qualities of good insurance agents is that they appear to be excited and eager at all times. Furthermore patience is the most vital quality of any good insurance agent and honesty is the best policy for a good insurance agent. To be a good insurance one should be able to offer a comprehensive selection of products and service that can meet any reasonable need a client might have. To be a good insurance agent one should know much more than how to sell a policy. The agent must know which policy will be helpful for a client and which will not be.
We hope that this information will help you if you want to be an Insurance Agent
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