Every insurance agent in India is required to receive IC 38 in order to offer life insurance policies. This accreditation is given by the Insurance Regulatory and Development Authority of India (IRDAI) to guarantee that insurance agents are informed about the products they market and capable of giving clients the support they need. If you want to work as an insurance agent in India, you must submit an IC 38 application. In this article, we’ll go over the procedures for submitting an application for IC 38 and respond to some associated queries.
Step 1: Pick a training facility that has IRDAI approval. Several institutions have received approval from IRDAI to offer IC 38 training. On the IRDAI website, you can see the list of accredited institutions. Enroll in the IC 38 training program at a facility that is convenient for you.
Step two is to show up to the training. A 25-hour classroom portion of the IC 38 training program is typically followed by an online assessment. To be eligible for the exam, you must participate in all of the training sessions and finish the course.
Step 3 is to sign up for the online test. You can sign up for the online exam on the IRDAI website after completing the training course. When registering for the exam, you will be asked for information about yourself and your training.
Take the online exam in step four. 50 multiple-choice questions make up the online exam, and you must receive at least 35 marks to pass. Using a computer with an internet connection, you can take the test online from any location. Your IC 38 certification will be given to you once the exam is passed.
Knowing an insurance agent’s disqualifications is crucial while applying for IC 38. If found guilty of any offense involving moral turpitude, misappropriation of funds, or breach of trust, an insurance agent may be prohibited from practicing. Additionally, if an insurance agent has been found guilty of any professional misconduct or has been declared bankrupt, they may be disqualified. What Does the Term “Agent” Mean in Insurance?
A person who works on behalf of an insurance firm to sell insurance products is referred to as a “agent” in the insurance industry. Agents are in charge of meeting with clients, outlining the benefits of several insurance plans, and assisting them in selecting the plan that best suits their requirements. What to Look for in an Insurance Carrier Selling Commercial Insurance?
1. Financial stability: To make sure that a carrier can pay claims quickly, choose one with a solid financial rating.
3. Product selection: To satisfy your unique needs, pick a carrier that provides a comprehensive selection of commercial insurance products.
A person who has been given permission by an insurance company to sell its policies is known as an appointed agent. Appointed agents are permitted to represent the insurance business when offering products to clients under the terms of a written contract with the insurer. They are also in charge of managing claims and provide customer assistance.
The duties of an insurance agent are not clearly mentioned in the article “Applying for IC 38: A Step-by-Step Guide.” However, in general, an insurance agent’s duties including selling insurance products, giving clients information and counsel, collecting premiums, handling claims, and keeping client records. Additionally, they assist clients in selecting the appropriate policy depending on their needs and budget by explaining the terms and conditions of insurance plans.