How to become an insurance agent in India and make money

Want to make some money by doing a part-time or full-time job in the insurance sector in India? Don’t worry I am not here to share a scheme or any make money program. Do you know that the insurance sector is getting large day by day as people are getting aware about the importance of insurance?

Thus the need for an agent I also increasing gradually. An insurance agent is a person who actually sells the policy to people by explaining the benefit of the scheme. Although you may think that in the age of online policies how these agents are effective?

But my friend in India hardly 20% people able to access the internet and among all insurance policies, only a few term plans are available online. The rest still depends on insurance agents only.

How to become an insurance agent in India

You might have seen many times your relatives are forcing you or your family members to do an insurance policy. You might be feeling differently about them, but do you know that how much commission an insurance agent get? One can easily get a good commission by selling insurance policies and make money after doing the regular job. Many people make this a full-time profession and earn a healthy income every year. But remember insurance agents don’t get any salary or fixed income. Means your income have to depend upon no policies sold by you.

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But it is not easy to become a successful insurance agent. One should have a good convincing skill to sell policies. Should have good command over various insurance products and should have the ability to suggest the best insurance policy as per individual’s need.

But this is not a self-started business, the very first thing you need is a license from Insurance Regulatory Development Authority of India (IRDA) that acts as a regulatory body for insurance companies nationwide to sell policies of a particular company only.

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Let’s see how you can become an insurance agent in India.

  • First of all, you have to contact the office at your nearest insurance company branch.
  • To apply for an insurance agent license, you should be of 18+ years old and a minimum of 12th pass certificate from a recognized institute. In some areas, a 10th pass certificate is also enough.
  • As per IRDA norms, you have to undergo at least 100 hours of practical training from an authorized institute.
  • Candidates have to pass the pre-recruitment examination organized by IRDA or by any insurance company.
  • Fill out the forms and attached all the information and submit to designate person of that insurance company. You have to pay a nominal fee of application. You can get the accurate amount from the office itself.
  • After successful submission of all the documents, your insurance agent license will be issued by a designated officer. This license will be valid for 3 years only. You have to renew later on. But submit your application for renewal before the expiry date, so that officer can renew your license before that date.

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So don’t waste your time, just start a discussion with your relative who is already an agent. Gradually you can learn and grow in this sector and earn a very good commission monthly. But remember, this sector has become already saturated and also in many cases a bad reputation job.

Many insurance agents mislead people by selling wrong policies to earn more commission and people are now getting aware of those activities. So to become an honest insurance agent one has to acquire very good knowledge with a good character as well.