Insurance Advisor in Hyderabad

Before filling out an application to become an insurance agent in Hyderabad, you have to check your eligibility, which is:

• Age: 18 years and above.

• Qualification: 10th Standard Pass

The age and qualification criteria make it viable for students to fund their education through insurance income. Arnav, a B. Com graduate, earned enough commission after working consistently for a year and taking up a BBM course without financial support from his family.

The evolving demographics of Hyderabad have created a strong market for the insurance business.  Statistics showed around 33000 life insurance policy sales in Hyderabad, revealing a high adoption in this sector. ⁽⁴⁾ The vehicle population has seen a steep rise compared to the previous years, with as many as 1500 registrations in Hyderabad. The rising traffic congestion shows a growing demand for motor and accident insurance.⁽⁵⁾ Similarly, the rising medical costs by 40% to 50% make health insurance inevitable in Hyderabad. ⁽⁶⁾ Considering the growth scope, you can choose any type of insurance or all to become a Hyderabad Insurance Consultant. 

The insurance company you select to work with impacts your insurance career. Compare the various insurance companies in Hyderabad and choose and enroll with an IRDAI-approved insurer, such as HDFC Life, which has several branches across the city.  You qualify for the training program after enrollment. 

The 25 to 50 hours of training is mandatory after registration. Complete the training provided offline at the insurance company’s training centres in Hyderabad. You can also undertake the training through online modules provided by the insurance company of your choice.

After completing the training, you must appear for the IC28 exam conducted by the Insurance Institute of India. You can take up the exam at centres in Hyderabad. The exam covers subjects related to insurance products and services, ethics and customer service, regulatory guidelines, selling and marketing skills, and other relevant topics. 

If you succeed in the exam, submit the required documents, such as a completed application form, address proof, age proof, education proof, bank statements, two passport-size photographs, and a cancelled bank cheque. You can upload the documents online or submit them to the nearest branch of the insurer.

Once the documents are reviewed and approved, you will receive the Advisor License, and you can commence the business and become one of the best insurance advisors in Hyderabad.

The syllabus comprises the basic features of life insurance and general insurance, legal and regulatory aspects of the insurance industry, including guidelines and laws. It also includes sales and marketing techniques, various insurance products and services, and customer service and ethics.

Mock tests to prepare for the exam are available on online insurance platforms as well as at local coaching centres.

On passing the IRDAI exam, you receive a certificate that permits you to sell insurance products. The license is valid for 3 years and needs periodic renewals. You can easily access the online refresher training programs offered by IRDAI-approved insurers or take up offline programs at designated centres in Hyderabad.