If you’re looking for ways to generate more money and meet your expenses in order to live a happy life, you may have a lot of ideas racing through your head about what to do or how to make more money. Even if you’re currently employed and looking for a way to supplement your income, being an insurance agent is one of the finest options available. Let’s have a look at how to become an insurance agent in India and what qualifications or training are necessary.
Who Is An Insurance Agent?
An insurance agent is a representative of insurance companies who acts as a client’s insurance adviser. Insurance brokers help customers find the right plans and other insurance needs by teaching them about their alternatives and addressing their concerns.
Types of Insurance Agent
According to the IRDAI, there are three sorts of insurance agents.
- Internal insurance sales agent
- Captive insurance agent
- Independent broker/Point of Sales
What Does An Insurance Agent Do?
Before we go any further, it’s crucial to understand what an insurance agent’s job entails. Someone who works for an insurance company or an insurance aggregator is known as an insurance agent.
- Assists in the sale of insurance products to clients.
- Assists clients in selecting and purchasing the appropriate type of insurance for their needs.
- Motor insurance, health insurance, travel insurance, life insurance, general insurance, house insurance, and other forms of insurance are all handled by an insurance advisor/agent.
Eligibility Criteria For Becoming An Insurance Agent
To become an insurance agent, the candidate must meet some fundamental requirements.
- Applicants need to be 10th passed.
- IRDAI Certification – Certified with IRDAI
- Age – 18 years and up
- To obtain a state license, one must pass a state-level test in accordance with the state’s regulations.
Procedure to Become an Insurance Agent
- Registration: Go to the website of your preferred insurance provider, seek the insurance agent application, and fill out the relevant information.
- Training: To work as an insurance agent, you must first finish the IRDAI’s basic training requirements. The training will be a 15-hour session that will take two to three days to finish. After completion candidates will be provided with a certification from IRDAI.
- License Exam: After completing the program, the candidate must take a pre-licensing test and pass it with a minimum score of 17 out of 50.
- Receiving the License: The Insurance Regulatory and Development Authority of India (IRDAI) issues a license to the eligible candidate, allowing them to work as a certified insurance agent.
Documents Required To Become An Insurance Agent
You will be asked to provide a few papers in addition to the registration form when registering to become an insurance agent. The following is a list of papers that the website will require:
- ID proof (PAN Card, Aadhar Card, Voter ID card, Driving License, etc.)
- Address proof
- PAN card
- Passport-size photo
- Educational qualification certificates
Currently, all of the relevant insurance companies have robust recruitment strategies. It includes a step-by-step procedure based on screening, with significant in-house practice and the IRDAI test to back it up.
If you wish to look into investing possibilities. We urge that you seek expert advice. Go to Choice Connect, their insurance broker will make your investing simple and profitable and simultaneously keep track of your hard-earned money.