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CAREER OPTION > Insurance Agent

Date:28/04/2018

Career as an Insurance Agent

Over the last few decades, with the increased knowledge of the masses and advancement of private firms in the insurance sector, the job prospects of insurance agents have increased to a greater demand. As an insurance agent, you will be a professional who advices individuals or companies about the insurance with regard to the protection of their health, wealth and life. Today the Indian insurance sector has a mix of public and private parties involved in live and non-life insurance programs. Apart from providing a shield to the life of people, it also provides a secure career to many young aspiring people.

As an insurance agent, you will act as a binding force between the insurance company and the client. You will provide necessary information about different insurance policies that are put forward by the company and guide them to take up the best policy that suits their current situation and lifestyle. You need to have a good knowledge of the company and its policies, its advantages and benefits in order to explain it correctly to the prospective client and convince him/her. You must be hard working, have commitment and have professional training in doing the same.

 

Eligibility

  • In order to pursue formal training in insurance, you need to have qualifying marks in your H.S.C. (10+2) exams under a recognised board of education.

 Required Skills

  • You should have excellent communication skills since you will be interacting with people of different background and societies on a daily basis.
  • You must be calm and patient and have a rapport to handle people.
  • You should have sales and marketing skills in order to show the advantages and disadvantages of each insurance that you put forward.
  • You should have the knowledge of principles and processes involved with your firm in order to answer any queries raised by clients.

How to become an Insurance Agent

STEP 1: After completing your 12thstandard you can pursue a degree in a domain of your choice. If you wish to directly become an insurance agent, you can opt for that too,

STEP 2: You need to apply to an insurance company and undergo 100 hours of classroom training by the company as per the syllabus put forward by IRDA (Insurance Regulatory and Development Authority).

STEP 3: After completing your training, you have to appear for examinations conducted by the IRDA. Once you have cleared the exam, you will be appointed as an insurance agent by the company or the employer.

Best Insurance Agencies

  • LIC – Life Insurance Corporation of India
  • Bajaj Allianz Life Insurance
  • ICICI Prudential Life Insurance
  • Reliance Life Insurance
  • Birla Sunlife Insurance
  • SBI Life Insurance
  • Max Life Insurance
  • HDFC Standard Life Insurance
  • ING Vysya Life Insurance
  • TATA AIA Life Insurance

Career Prospects

You can work in both private and public sector as an insurance agent. You will serve as an advisor to individuals, families and businesses to select the right insurance policy to secure themselves. You can work as a financial advisor to the insurance companies as well.

Income

The salary depends upon your own efforts. The more clients you get, the better performance you showcase and the profit you make for an organization will impact the amount for which you work. However, you are likely to earn an amount of Rs.30, 000 to Rs.35, 000 per month.