The insurance industry is a thriving sector with immense potential for growth and success. If you have a knack for numbers, excellent negotiation skills, and a desire to help people protect their assets, becoming an insurance agent could be the right career path for you.
In India, every insurance agent is trained and completes a licensing process to sell insurance policies directly to customers. However, because this process is typically sponsored by the insurance provider you are affiliated with, it requires no monetary investment from you.
Starting a career as an insurance agent can be pretty simple and rewarding, whether as your first job, shifting careers, or having a primary job and just wanting that extra money.
This article will explore who an insurance agent is, their job role, why you should become one, and how you can become one.
Who is a licensed insurance agent, and what do they do?
A licensed insurance agent is a trained professional responsible for generating new business for an insurance provider by selling policies to customers. While this was their original job description, their role has since expanded into a more advisory role where they not only scout new customers and sell policies, but they understand the customer’s needs, showcase policies to them, suggest relevant policies, explain policy details and claims process, offer financial advice and helps with the purchase process.
An insurance agent health is a specialised agent who deals in health insurance and sells policies that cover policyholders’ medical expenses. Due to the complexity of health insurance or group health insurance and the differing needs of every individual and family, a health insurance agent is a great career option. You can help hundreds of people ensure their health and financial well-being by selling the right insurance policy.
Why should you become an agent in insurance?
Here are some of the reasons why you should consider becoming an agent in insurance:
1. Financial freedom
Due to its low barrier of entry, people as young as 18 can aspire to become agents, thus securing financial freedom for themselves.
2. Unlimited potential to earn
As an agent primarily earns from commissions, there is no cap on how much you can make.
3. Unmatched flexibility
Becoming an agent is highly lucrative in terms of its flexibility. Whether you are a homemaker, retired professional, or have any other job, you can still work as an agent and use its benefits.
4. Handholding and the opportunity to succeed
Depending on the insurer, agents have weekly training sessions and knowledge transfers and are provided ample opportunities to succeed.
5. No monetary investment is required
Becoming an agent requires no monetary investment from you, allowing anyone to aspire to become one and start earning.
How do you become a certified insurance agent in India?
As mentioned above, becoming a certified insurance insurance agent is quite simple. Due to its low barrier of entry with minimal eligibility criteria and requiring no monetary investment from the aspiring agent, almost anyone can become an agent and start earning.
These are the steps which you can follow to become a licensed agent in India:
- Look for an insurance provider you would want to work for.
- Visit their website, apply on the recruitment pages, or call them for an appointment.
- Complete your training with the insurance provider and start preparing for the examination.
- Attempt and pass the examination to receive a license.
- Sign a contract with the insurer and start earning!
Note: When choosing insurance providers to work for, consider several factors like name, reputation, benefits, etc. Based on these factors, choose companies like Niva Bupa if you wish to enter health insurance as a field, ICICI Lombard if you wish to deal in auto insurance or any other reputed company for various types of insurance.
Conclusion
Insurance is a field for all, whether you want to shift careers, start your first job, or earn a little extra. With its unmatched flexibility, unlimited potential to make money, numerous opportunities to succeed, and zero investment required, you, too, can start your insurance career on the right foot and become a successful agent.
