A general insurance agent helps people and businesses protect themselves against unexpected events that could cause financial loss. They sell various types of insurance policies, such as car, home, and health insurance.
Agents can work independently or for insurance companies like New India Assurance, where becoming an agent can be highly beneficial. They help clients understand the importance of insurance, offering financial security during tough times. The career of a New India Assurance’s General Insurance Agent is fulfilling for those who enjoy assisting others and finding optimal insurance solutions tailored to individual needs.
Requirements To Become An Agent
To become a New India Assurance General Assurance agent, you need to meet specific requirements:
- Age: You must be at least 18 years old.
- Educational Qualifications: You need to have passed the 10th standard or an equivalent examination from a recognized board or institution.
These are the basic requirements to start your journey towards becoming an agent with New India Assurance. Meeting these criteria ensures that you can apply for the role and begin the process of becoming a trained and certified agent to help others with their insurance needs.
Benefits Of Being A New India Assurance Agent
Here are some benefits of being a New India Assurance Agent:
- Commission Structure & Incentives: You earn money through commissions when you sell insurance. If you will sell more policies, you will make more money. There are also incentives for doing well.
- Marketing Support: The company helps you with marketing. They give you tools to promote and sell insurance policies easily.
- Growth Opportunities: You can grow in your job and move up in the company. This means you can have a better position and earn more money over time.
- Sales Tools Provided: You get tools to help you sell insurance better. These tools make it easier for you to explain insurance plans to customers and answer their questions.
- Customer Service Help: If customers have questions or need help, you can get support from the company. They help you handle customer concerns and make sure everyone is happy with their insurance.
- Claims Assistance: If someone needs to make a claim (get money after an accident or problem), the company helps you handle it. This makes it easier for customers to get the help they need when something goes wrong.
- Training & Learning: You get training to learn more about insurance. This helps you become better at your job and give the best advice to customers.
Steps To Become A New India Assurance Agent
You need to follow the below-mentioned steps to become an agent of New India Assurance:
Step 1: Meet Eligibility Criteria
Before becoming an agent, you need to meet the previously discussed requirements.
Step 2: Complete Pre-Licensing Education & Training
Now you need to finish pre-licensing education and training. Here’s what it involves:
- Training Requirement: You have to complete 25 hours of training before you can join as an agent. This training happens at the Divisional Office of New India Assurance. It helps you get used to how insurance works.
- Training Content: During the training, you’ll learn about:
- The different types of insurance New India Assurance offers, like for cars and homes.
- How to sell insurance well, handle customers nicely, and follow all the rules.
This training is important because it prepares you to be a good insurance agent. You’ll understand the products, how to talk to customers, and what rules to follow to do your job right.
Step 3: Pass Insurance Examination
Next, you must pass an important exam called the Insurance Examination (IC-38). Here are the details:
- Examination Details
- Duration: The exam lasts for 1 hour.
- Marks: You need to get at least 35% to pass. That means you must score at least 18 marks out of a total of 50.
- Conducted By: The exam is organized by the Insurance Institute of India in Mumbai or another organization approved by IRDAI (Insurance Regulatory and Development Authority of India).
- Examination Fee: It costs Rs 425/- plus GST (tax) to take the exam. This fee has been in effect since July 1st, 2017.
- Examination Payment: You pay this fee to NSEIT (National Stock Exchange IT) when you register for the exam online.
Passing this exam is very important because it shows that you understand the insurance business and can help people with their insurance needs.
Step 4: Apply For License
After passing the Insurance Examination (IC-38), you need to apply for a license from IRDAI (Insurance Regulatory and Development Authority of India). Here’s what you need to do:
- Submit Application Form: Fill out the application form and send it to IRDAI. They will review your application and documents to make sure everything is correct.
- Submit Identification Proof: You must submit documents like your Aadhar card or passport to prove who you are.
- Submit Educational Certificates: You also need to provide your 10th standard pass certificate to show you have finished school.
Note: These documents are important because they prove you are eligible and qualified to work as an insurance agent.
Step 5: Licensing & Certification
To get your insurance agent license, you need to follow the steps given by IRDAI. They will check if you meet all the rules and regulations. You must also follow the guidelines set by IRDAI. These rules are important to make sure you do your job correctly and ethically.
It’s important to keep learning even after you get your license. This is called ongoing professional development. It helps you stay updated with new information and skills.
Step 6: Start Selling Insurance
Once you become a New India Assurance agent and get your license, you can begin selling their insurance products. This means you can help people and businesses choose the right insurance plans to protect themselves.
It’s important to follow all the rules and be honest when you sell insurance. By doing this, you build trust with your customers and help them feel safe with their insurance choices.
FAQs
Q1. How long does it take to get the insurance agent license after passing the exam?
It varies, but once you submit all required documents, it typically takes a few weeks to process.
Q2. Can I work independently as a New India Assurance agent?
Yes, you can work independently or with an agency affiliated with the company.
Q3. Do I need to renew my insurance agent license?
Yes, you need to renew your license periodically as per IRDAI guidelines.
Q4. Is there ongoing training provided?
Yes, the company offers continuing education to help agents stay updated with industry knowledge.
Q5. Can I sell all types of insurance policies offered by New India Assurance?
Yes, once licensed, you can sell various insurance policies such as car, home, and health insurance.
Q6. What support does New India Assurance provide for customer service?
They assist in handling customer inquiries, complaints, and claims efficiently.
Q7. How can I learn more about becoming a New India Assurance General Insurance Agent?
Visit the official website of New India Assurance or contact their offices for more information and guidance.
