students Logo
Home | Sitemap | Contact us | Search | Language
Scholarship and Fellowships for Postgraduates and researchschollars | Scholarship for Graduates |Agriculture Dictionary | Biotechnology Dictionary
Left Right
  Home >> Careers in Banking Finance and Insurance >> Selling Insurance Policies as a Career Option

Selling Insurance Policies as a Career Option - For those who like meeting people, have good communication skills, possess convincing power and are willing to work hard, working as an Insurance Agent can prove very lucrative. As much as 25% of the first year premium on a policy sold by an agent is paid to him as commission.

He further gets commission of 7%% of the premium for second and third years and 5% commission on rest of the premiums. When an agent becomes a member of the Chairman's of the Zonal Manager's Club he is entitled for facilities of an office, a car, computer, telephone, expenses for maintenance and also housing lone at very nominal rate of interest (5.25%).

It is possible to avail these facilities after four years. Even those who want to supplement their income, besides their other job, can also make additional income by this means. Unlike many other business options you need not make any investment. You have the liberty of working according to your own time schedule and without interference from any quarters.

Eligibility: Of late the Insurance Regulatory and Development Authority (IRDA) has introduced new guidelines for recruitment. Now, one has to be at least twelfth class pass (in case of rural areas class X pass). One had to pass an examination prescribed by the IRDA and undergo a training at least for four weeks. This training is provided by the concerned company without any charges.

There is provision for joining as a salaried employee by getting placement as a development officer, after following the prescribed procedure and qualifying the prescribed tests.

Important Websites
Acturial Society of India : www.actuariesindia.org
Institute of Actuaries, London: www.actuaries.org
Institute of Actuaries, Australia: www.actuariesasn.au
Society of Actuaries, USA: www.beanactuaries.org
Insurance Regulatory and Development Authority, Hyderabad: www.irdaindia.org

Some of the institutes offering training for insurance brokers:

NIS Sparta, M-14, S.E. Part II, New Delhi 110049 (Ph 011-28640767)

New India Insurance Co. Ltd., Corporate Training College, 34, CD Barfiwala Marg, Andheri (E), Mumbai 400058 (Ph 022-26212156)

Oriental Insurance Co. Ltd., Staff Training College, Bata More, Sector II, Mathura Road, Faridabad 121006 (Har.).

School net India Ltd.,19, Unique Industrial Estate, Twin Tower Lane, Bombay Dyeing Compound, Prabhadevi, Mumbai 400025 (Ph 022­24330360, 24330365)

Left Right