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IRDA IC38 Training

The Insurance Agents Exam – IC 38 is the first and most important stage in becoming an IRDAI Agent/Insurance Advisor. The Insurance Regulatory and Development Authority of India, also known as the Insurance Institute of India, administers this certification exam prior to hiring. In order to become a Life/Health/General insurance agent, applicants must clear this exam.

Standout features of Vision India Insurance Training

  1. The goal of this training course is not only to prepare candidates to take the exam with confidence, but also to implement the information they learned in the course to real-life sales situations.
  2. The insurance sector is highly dynamic, and insurance agents must evolve and adapt to the industry’s trends. This training course is developed and presented in a way that allows trainees to adapt and adjust their skill sets in response to the changing needs of the business.

To become an IRDAI certified insurance agent in India, you need to follow these general steps:

Determine the Insurance Sector: Decide which sector of insurance you are interested in, such as life insurance, health insurance, motor insurance, or general insurance. Each sector may have specific requirements and regulations.

Choose an Insurance Company: Select an insurance company you want to work with as an agent. Research various companies and consider factors like reputation, product offerings, training support, and commission structure.

Fulfill Eligibility Criteria: Ensure that you meet the eligibility criteria set by the insurance company and IRDAI. Generally, you must be at least 18 years old, have completed your higher secondary education (12th grade or equivalent), and possess a valid PAN card.

Complete Pre-licensing Education: Enroll in a training program approved by IRDAI or conducted by the insurance company you wish to join. This program will provide you with the necessary knowledge and skills required to pass the IC38 examination.

Attend Training Sessions: Participate in the training sessions offered by the training provider or insurance company. These sessions will cover insurance principles, products, regulations, sales techniques, and customer service.

Study for IC38 Examination: Devote time to self-study and prepare for the IC38 examination. Review the training material, study guides, and practice sample questions to enhance your knowledge and improve your chances of passing the exam.

Register for IC38 Examination: Register for the IC38 examination through the designated channels specified by the insurance company or training provider. Pay the required examination fees and complete the registration process.

Take the IC38 Examination: On the scheduled date, appear for the IC38 examination. The exam may be conducted online or offline, depending on the mode specified by the regulatory authorities. Answer the questions to the best of your knowledge and understanding.

Obtain Certification: If you pass the IC38 examination, you will receive the IRDAI certification as an insurance agent. This certification allows you to legally sell insurance products and work as an agent for the specific insurance company you have chosen.

Join an Insurance Company: Once you have obtained the certification, you can approach the insurance company you selected earlier and complete the necessary paperwork and formalities to become an authorized insurance agent.

Course Outline for IC-38 Exam

Module 1 –Introduction to Insurance

  • Fundamental Concepts of Insurance
  • Customer Service Overview
  • Learning about the grievance redressal mechanism
  • Understanding the regulatory aspect of corporate agency
  • An overview of Insurance Contract Principles

Module 2 –Understanding Life Insurance

  • Life Insurance Concepts
  • Explaining Financial Planning
  • Life Insurance Product – I
  • Life Insurance Product – II
  • Understanding Life Insurance applications
  • Studying the concepts of pricing and valuation in life insurance
  • Documentation Policy
  • Underwriting
  • Payments ( Life Insurance Policy)

Module 3 – Overview of Health Insurance

  • Health Insurance Overview
  • Learning about Insurance Documentation
  • Health Insurance Products, Underwriting, and Claims

Module 4 – Explaining the concept of General Insurance

  • Learning about the principles of Insurance
  • Having a clear understanding of the documentation
  • Learning the theory and Practicing Premium Rating
  • Overview of Commercial Insurance
  • Understanding the Claim Procedure

Role of an IC-38 Certification Holder

After completing training and passing the IC-38 exam, the candidate is licenced by IRDAI to sell insurance policies or goods to consumers, as well as providing post-sales support and accurate customer assistance.

Candidates/Insurance agents should assist insurance customers in selecting the appropriate insurance policy for themselves, their families, and their enterprises, as well as relevant insurance to cover the risk of any bad incident.

Candidates must reveal to insured clients all items for sale and describe all features and qualities provided by their particular companies in detail.

You must acquire the necessary papers in order to convey to consumers all of the information required to fill out the proposal form. Explaining the significance of disclosing important facts influencing the underwriting decision and subsequent claim settlement.

Assist the insurance customer with any changes in address, contact information, and so forth.

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