Insurance agent is a person who has obtained license to work on behalf of the insurance company to sell insurance policy on commission basis paid by insurance company.
The process of becoming an insurance agent is pretty simple. To obtain the license, you must attend 17 hours of basic insurance agent training conducted by the insurance company.
Yes, a nominal fee of Rs. 1,000 is required. Rs. 500 each is needed for Beema Samiti’s license and remaining Rs. 500 for training fee.
Few documents are required to process for an agent’s license and they are:
- Copy of citizenship certificate
- Copy of latest academic qualification
It does not take long time to obtain license to be an agent. Usually, it only takes 7 days to obtain the license.
Not at all. Insurance company does the follow up with Beema Samiti.
No, it does not require any kind of investment to become an insurance agent.
No, it does not require full time involvement. The agent has flexible work time.
Anyone with + 2 academic degree, who wishes to become an agent, can work as an insurance agent. S/he can be of different occupation such as housewife, student and employee.
There aren’t any restrictions while selling insurance policies. It can be sold to anyone and everyone.
Insurance company will provide continuous support and training wherever and whenever required by the agent.
Commission will be paid as per the Beema Samiti’s regulations.
There are tremendous scope for growth as an agent. You can recruit new agents and become agency manager in the future.
14. Am I fined any amount if the insurance policy holder makes a claim as per the insurance policy contract?
Not at all. The agent will not be fined any kind of amount when the policy holder makes a claim.