Insurance Agent - How to become a Insurance Agent

Importance and responsibility with the profession of an Insurance Agent

An insurance Agent is a professional which advices individuals and companies about the insurance protection to their life, health and wealth. In last couple of decades with increase in the knowledge of the masses and advent of the private players in the insurance sector the growth in this sector has increased many folds. The Indian insurance industry has witnessed exceptional growth with private participation. It has a mix of public and private players both in the field of life and non-life insuance business. This sector along with providing a protective shield to the lives and assets of the people give a lot of job opportunities to the younger generation. An Insurance agent is one of such jobs. An insurance agent is the binding force between a client and the insurance company. He is the one who provides the necessary knowledge to the interested person about a particular policy. The job of an insurance agent is not only to tell about the various policies provided by the company he working for but also to guide him about the best suited policy according to their needs and aspirations in the future to come. Thus to be able to explain all the facts to his prospective customers the Agent has to be totally aware of all the policies he is vouching for. For this he has to go through the policies terms and condition very well so that there is no ambiguity left from the side of the agent regarding any of the policy.
To accomplish his work in a better manner the agent should be hardworking and dedicated. The job of an Insurance Agent demands intensive foresight and in depth knowledge of the field one is working in. For this one should have the capacity to work hard with commitment, open mind and honesty. Thus to do his work most effectively he requires special training which can be acquired by doing the required courses. To be an Insurance agent one has to follow the below given path.

Eligibility to be an Insurance Agent

1. Educational Qualification
(a) Pass in Senior Secondary Examination (10+2) or equivalent recognized examination in any stream.

2. Age
There is no restriction with regard to the age of the candidate.

Process to be an Insurance Agent

To be an Insurance Agent one has to follow the below given steps:-

Step 1
To become insurance agents, one needs to undergo 100 hours of classroom training by the respective Insurance Company based on the syllabus laid down by IRDA.

Step 2
After completion of training, they have to appear for the examination conducted by the Insurance Regulatory Development Authority (IRDA).

Step 3
After clearing the exam the person is eligible to do the work as an agent

Scope and remunerations of these professionals
Insurance Agents help individuals, families and businesses select insurance policies that provide the best protection for their lives, health, and wealth. They work as the agents of the insurance company and sell their policy on a commission basis. They work with the development officer in the insurance Company They can also serve as financial consultants, who will offer a complete range of insurance solutions. Smart and efficient insurance agents working hard can become a development officer over a period of time.
Although there is a lot of scope for these professional yet there is a lot of competition among these professional to get good jobs. But there is no dearth of placements for the efficient Insurance agents. They can opt for Private sector, public sector. As far as their financial remuneration their earning depends upon their own efforts, it can be anything from a few thousands to start with to lakhs after few years of hard work and sincere efforts towords his work.