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An insurance advisor is one who represents insurance providers to offer advice to clients about the various policies they can choose from. Not only does an insurance advisor suggest policies suited to clients’ needs, but they also solve any queries customers might have about the policies, as well as educate them regarding the ins and outs of every policy. As per the Insurance and Regulatory Authority of India, there are three types of insurance advisors. But have you ever wondered how to become insurance advisor? Find out the details from this blog.
An insurance advisor is a licensed professional who aids individuals and business owners in choosing appropriate insurance policies to meet their needs and financial plans. They provide advice on all forms of insurance, such as life, health, motor and general insurance plans.
Advisors interpret policy language and steer clients into the right coverage. They also help with claims and aspirations, making the whole thing easy and frustration free.
We will get to how to become an insurance agent. But let’s discuss the types first:
Some basic eligibility criteria need to be fulfilled for those wondering how to be insurance agent:
The following procedure needs to be mapped out if one wishes to become an insurance consultant.
As market conditions constantly fluctuate, it is always good to upskill oneself. Being an insurance salesperson, either as a part-time or full-time job, is a great skill to acquire in today’s world. Not only is the process of training to be an agent easy, but the job also doesn’t tie you to a work desk for 8 hours every day. To become a great insurance consultant, ensure you seek out common ground when communicating with your client. After breaking the ice, build your pitch by creating interest in what you are saying.
Simply knowing about policies is often not enough. Good insurance agents are aware of the current political and social climate, updated with the latest news stories and good with data. Each of these can strengthen one’s pitch, as well as the ability to find a good client-product fit. Finally, a good insurance agent is equipped with the marketing tools of the times. From sending clients e-brochures to forwarding website links as needed, the insurance agent should be a wellspring of information and sources so the client can learn as much about an insurance policy as possible.
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Anyone above 18 years of age with at least a Class 10 (SSC) qualification can become an insurance advisor. You must also complete the IRDAI training and pass the required licensing exam.
Insurance advisors earn commissions from insurance companies on the policies they sell. The income increases based on the number and type of policies sold and renewed.
Yes, IRDAI mandates a training programme before you can appear for the advisor exam. The training helps you understand insurance basics, regulations, and selling ethics.
For life insurance, an advisor can represent only one insurer. However, for general insurance, IRDAI allows advisors to work with multiple insurers under certain conditions.
Become a Partner & Earn up
to 1 Lakh* per Month!