Become an Insurance Agent
Looking for a company that is simple by recession or economic downturn? Insurance is one of those industries that are mainly untroubled by the state of the economy.
- Start selling insurance and make a commission every year,
- The easiest way to start side income & Zero investment required….!!!!!
What is Insurance?
Insurance is a means of safety and protection from financial loss. It is a sort of risk management, formerly used to hedge upon the risk of a contingent or accidental loss. An entity that gives insurance is called as an insurer. An individual or entity who buys insurance is known as an insured or Policyholder. The insurance transaction includes the insured expecting a guaranteed and recognized a nearly small loss. In the form of payment to the insurer in trade for the insurer’s guarantee to pay the insured in the case of a covered loss. The loss can be or not be financial. But it requires to be reduced to financial terms. Normally involves something in which the insured has an insurable interest built by ownership and possession and many more. For carrying out the insurance selling we need insurance agents.
About Insurance agent
An Insurance Agent is a way of contact with an insurance company for all individuals. They help individuals with insurance products that are completely fit for them and to gather all the required documentation and support policyholders during the term of the policy. One can become an Insurance Agent one of the companies i.e for a Life Insurance company or general Insurance company or become a composite Agent. It is all on the insurance agents’ abilities and skills.
Role of Insurance Agent:
Types of Insurance Agents
There 4 types of Insurance agent in India:
Who can become an Insurance Agent
According to IRDAI guidelines, any individual who wants to become an insurance agent must fulfil the below-mentioned criteria:
The applicant should have attained the age of 18 or above.
An Insurance Agent must have a bachelor’s degree (graduate). But, in some cases, someone who has passed out of school but has vital talent and experience in sales may also be able to become an agent. So, being 12th pass is the minimum requirement for becoming an insurance agent. For urban areas is 12 the pass and rural areas are 10th passes.
Also, one needs to pass an exam administered by the IRDA -Insurance Regulatory and Development Authority.
The documents needed include proof of identity, requisite exam certificates, proof of address, PAN card copy, and photos in the designated format.
To get a license to sell insurance, an individual has to undergo a certain amount of training. The number of hours of training required depends upon the kind of insurance the individual intends to deal with.
Steps of Registration
Simple Registration Process: To become an Insurance agent, you have to complete a simple registration form available on the website. You can submit the documents specified in the article.
Online or Offline Training: Once you are done with the registration process, you will have to go for online or offline Training of 25 hours. Upon the finish of the training, you will be awarded a training certificate. The training includes all the phases of Insurance Business.
Examination: Further, you will perform a Pre-Licensing Online exam conducted by IRDA and obtain at least – 17 out of 50 Marks. Objective type question will be asked in the examination
License: Upon passing the exam, you will be given a license by IRDA to work as an insurance agent. Then you will be appointed as an agent.
What You Get?
Documents required to become Insurance Agent
Education & Training for an Insurance Agent
You can work as an insurance agent without formal qualifications, but most employers normally require you to get your Senior Secondary Certificate of Education. You will apparently get some informal training on the job. Entry to this occupation may be increased if you have qualifications. You may like to consider a VET qualification. As subjects and prerequisites can vary among institutions, you should contact your chosen institution for further information. You can also become an insurance agent by a traineeship.
Tips to become a successful Insurance Agent
Follow these steps to become the insurance agents with all the skills :