The insurance sector is one of the very few professions that are unaffected by economic fluctuations like recession or stagnation. The fact is that people would need insurance (health, property, general insurance etc) despite how the economy is doing. And becoming an insurance agent can be an excellent professional move for you as it provides the flexibility for you to work at your own pace and to earn as much as you like. So, let’s discuss how you can become an insurance agent from home and earn as well.
Why should you become an insurance agent?
As an insurance agent, you have the flexibility of working both part-time and full-time based on your choice. Your income potential is also in your hands as the more policies you sell, the more income you generate. As an insurance agent you can be your boss and define your own earnings but also help thousands of people secure their future by guiding them to suitable insurance policies.
Who can become an insurance agent?
The Insurance Regulatory and Development Authority of India (IRDA) stipulates that you can become an insurance agent if you are above 18 years of age and have completed 12th standard or equivalent from your school in urban areas and 10th standard in rural areas.
Is there an exam to become an agent and what does it involve?
Yes, to become an insurance agent you have to get an Insurance License after you pass the IRDA exam. The exam happens throughout the year and you can take it anytime you want. The exam takes place online with 50 MCQs to be completed in one hour. You need 35% marks to qualify for the exam. The syllabus for the exam needs you to have a basic understanding of insurance, the legal and regulatory requirements, a good understanding of claims, some basic math, and ethics. You get the results immediately after the exam.
Note: You cannot write the exam directly. You will have to enrol yourself with an insurance company and write the exam through them.
Where do I start and how do I become an insurance agent?
Now that you know the eligibility criteria, here’s what you need to do:
1) Get in touch with the insurance company you want to work with (by visiting their office or applying online) to enrol yourself as a candidate.
2) Send your details (documents, certificates, etc) as asked by the company.
3) The insurance company would take a brief screening interview to check if you are eligible and they would give you a short training if you are not ready for the exam.
4) If you are ready for the exam, the entire process of applying and getting a licence can get over in 2 days and you would be ready for full training.
5) You need 50 Hours of training from IRDAI approved training institution to start as a life insurance agent and the licence remains valid for 3 years.
6) After 3 years, you do not need to write another exam. You will just have to undergo another 25 hours of training to be eligible for another 3 years.
That’s it, that’s all it takes. If you understand the basics of the insurance sector if you know how to interact with people, and if you want to be your own boss by working according to your own schedule then all you need to do is enrol with an insurer, give an exam, and you will have your licence in no time. Go ahead, start earning and creating your own future now.
You can partner with OneAssure to start your own health insurance business. OneAssure is a platform that provides support and training to grow and manage your business from scratch. Visit oneassure.in to know more.