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- How to Become an Insurance Agent?
- Why Become an Insurance Agent?
- Step to step by guide to become an Insurance Agent
- Who Can Become an Insurance Agent?
- Different Types of Insurance Advisors
- Qualifications Required to be an HDFC Insurance Agent
- Why Choose HDFC Life as Your Platform?
- Success Stories of our DigiFCs
- FAQs on How to Become an Insurance Agent
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Financial freedom
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Flexible work hours
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Rewards & Recognition
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Get skilled & groomed
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Professional Guidance
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Training
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Service Support
Why Become an Insurance Agent?
Choosing a career as an insurance agent has several benefits. To embark on this journey that offers high earning potential, all you need is a 10th-grade pass and to be 18 years of age. Be part of the 15-hour IRDAI insurance training programme, take a certification exam, and earn a license to sell insurance products.
Thereafter, you can work full-time or part-time, depending on your income needs and be your own boss, with a nominal investment in a smartphone and an internet connection. As an insurance agent, you can make a difference by guiding them in the right direction to achieve their financial objectives.
Step to step by guide to become an Insurance Agent
Now that you know how to become a life insurance agent, these are the steps to become an insurance distributor.
Fill an application
Insurance agent registration by filling out an application or signing up online is the first step to how to become insurance agent.
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Submit Document
Submitting the required documents is the next step to how to become insurance agent. The list of documents is age proof, address proof, education proof, PAN card, Aadhar Card, passport-size photographs, and a cancelled cheque
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Training and Certification
Undergoing the mandatory IRDAI training program and taking up the exam to obtain a license to sell insurance products.
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Appointment
After completing the agency process you receive an appointment letter from the insurance company. Thereafter, you have to attend an in-house advisor induction program which helps you understand the brand and their product range.
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Who Can Become an Insurance Agent?
Besides understanding how to be an insurance agent, you should also know who can become an insurance advisor. Anyone ambitious, willing to learn, has sales and communication skills, and meets the minimum age and insurance qualification criteria can consider the insurance business opportunity. Some of the eligible candidates are:
Housewife
Housewives possess immense time management skills. They can understand the needs of a family. This quality helps them relate well to their client’s personal as well as family circumstances. With these qualities, they can effectively execute the role of a life insurance consultant. The flexible working hours help them balance their responsibilities with work enabling them to leverage their free time to gain some income.
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Retired
The vast experience and established network, retirees are the most eligible candidates. By understanding the importance of financial planning, they relate well with clients looking for insurance options for themselves and their loved ones. The job of an insurance sales representative can be fulfilling as they can stay active. They feel satisfied that they are helping others with financial decisions.
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Salaried
Salaried individuals are moulded to work in structured environments and possess customer service, team building, and organisational skills. With these qualities, they can adapt well to the role of a corporate agent.
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Self Employed
Sales and customer handling skills are natural to self-employed individuals. In addition, they have a ready customer database. An insurance agent ability lies in building a personal network and generating leads, and the self-employed are good at it.
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Professional
Professional financial advisors are adept at financial planning. They have an in-depth knowledge of financial products, investment strategies, balancing risk and rewards, etc. If they choose to take up the opportunity after understanding how to become insurance agent, they can effectively guide individuals to make informed decisions.
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Different Types of Insurance Advisors
The different types of insurance advisors are:
In-House Insurance Sales Agent
In-house insurance sales agents are employees of an insurance company and exclusively market that company’s insurance products. In contrast to independent insurance agents, these agents cannot sell products of multiple insurers. They are generally paid a base salary and commission based on their sales performance.
Captive Insurance Agent
Captive insurance agents register with an insurance company and are allowed to sell only that company’s products. Unlike in-house sales agents, they are not a part of the insurance company’s internal sales team. They are permitted to sell different types of insurance products and focus on a broader customer base. The insurance company they are affiliated with controls their working hours, specify targets and sometimes dictates terms on how to interact with clients.
Independent Broker/Point of Sales
Independent brokers or point-of-sale persons are IRDAI-approved agents and receive a license to sell insurance products. They can promote the products of multiple insurance companies simultaneously to their clients. They set their targets depending on how much money they intend to make.
Qualifications Required to be an HDFC Insurance Agent
Being informed about the qualifications required to be an HDFC insurance agent is equally important as being aware of how to become insurance agent. To become an HDFC insurance agent and understand the role of insurance agent:
You should be 18 years old
A 10th standard pass is the minimum qualification required.
An IRDAI certificate after completing a mandatory insurance training program.
You should qualify for a state-level exam to obtain a license to sell insurance policies.
Why Choose HDFC Life as Your Platform?
Choose HDFC Life as your platform to become an HDFC Life agent and start your journey as a trusted Life insurance advisor for the following reasons:
Strong Brand
HDFC Life is a reputable and trusted company. Selling this company’s products is easier owing to the credibility and trust the company has built over time.
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Flexible Working Hours
Insurance agents are not bound by rigid working hours. They can schedule working hours according to their convenience. They can choose to work full-time or part-time, depending on the target they set for themselves.
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Advanced Technology Support
It leverages technology to provide agents with tools for lead generation, setting online appointments, customer communication, and policy management. The tech support enables seamless operations and enhances productivity.
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Training and Guidance
The company imparts extensive training to equip insurance consultants with product knowledge, communication and selling skills. The training programme includes workshops, online modules, and mentorship. The agents stay updated and skilled with the training and guidance, and perform better.
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Earnings and Incentives
HDFC Life offers a high potential for earnings. The insurance agent working for HDFC Life enjoys a combination of commission, bonuses, and rewards. There is a scope to improve earnings through incentives for high performance.
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Success Stories of our DigiFCs
Here are some stories of successful insurance agents:
Sivaramakrishnan A N-Consultant
Be your own Boss! With no up-front monetary Investment. DigiFC is the answer!
Paul Thekkekara-Consultant
Partnering with DigiFC, HDFC Life has been a transformative decision for me.
Shweta Dubey-Consultant
I had a positive experience and helped me for personal and professional growth.
Jordan Alfred Andrades-Consultant
The decision to join DigiFC - HDFC Life has been a game-changer for me.
FAQs on How to Become an Insurance Agent
1 How does one become an Insurance Agent?
You can become an insurance agent by following the steps for how to become insurance agent. They are: filling up a form, submitting documents such as age proof, address proof, education proof, PAN and Aadhaar Card, and passport-size photographs, undergoing the IRDAI training program and certification exam, passing the IRDA exam for insurance agent, and getting an appointment letter from the insurance recruiter.
2 What are the qualifications for an Insurance Agent?
To become an insurance agent, the applicant must be at-least 18 years old, should have passed 10th grade, and have undergone the IRDAI training program and certification exam.
3 Are insurance agents in high demand?
Yes. With the growing awareness about financial and retirement planning, insurance agents are in high demand. Prospective buyers seek their advice to simplify the insurance purchase ordeal. With an in-depth knowledge of financial planning and insurance products, they guide the buyers to choose the right plan, aligning with their needs and goals.
4 Is it hard to be an Insurance Agent?
No. It is not hard to be an insurance agent. With the right skills and certifications, advisors can help their clients choose the right plans to secure their future. With unlimited earning scope, they can convert this opportunity into a rewarding career.
ARN-ED/05/25/23303