Health Insurance is an exciting field to work in. Not only is it possible to help many people get access to health care beyond one’s means by pooling in money, but it is also highly rewarding for people on all steps of the ladder, from customers to insurance agents to senior management and executives.
With these benefits and the fact that becoming an agent requires zero investment, many people are now looking to become agents. As someone with over ten years of experience in this field, I am writing this ultimate guide to help you take the first step to becoming an agent.
What does an agent do?
Before going into too much detail, an insurance agent is a person who works with an insurance provider to sell insurance products. This is the simplest explanation anyone can find of what an agent does. But let us go further and explore all of the different aspects an agent must fulfill in their daily lives.
- Generate leads, cold call people, contact old and new people if they are interested in a policy.
- Deal with potential customers
- Recommend different policies based on their needs
- Sometimes, they offer financial advice based on their budget and policy premium.
- Explain the crucial policy details like policy terms, inclusions, exclusions, claims process, etc.
- Complete the sales
- Offer some post-sales customer support to the customer
These are some of the core things an agent does in their daily lives. Beyond this, occasional items include networking with peers, upskilling oneself by attending seminars, and sharpening communication skills and analytical understanding.
What are the requirements to become an agent?
There are a few eligibility criteria to become an agent. Although these requirements are standardised, some insurance providers might add specific unique criteria to join them—these criteria as listed below.
- Be at least 18 years old.
- Complete 10th or 12th standard, depending on where they are from.
- Have an Aadhaar card and a PAN Card.
- Complete mandatory practical training.
- Pass an exam prescribed by the IRDAI.
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Step-by-step guide to becoming an insurance agent
As long as you are 18 years old and have completed your secondary or senior secondary education, you can follow these steps to become an agent:
- Identify an insurance company you would like to work for. Do detailed research about them, their offerings, where they are situated, etc. I work for Niva Bupa and would recommend them if you wish to work as a health insurance agent.
- You can contact their phone number, visit their physical location, or check out their website for joining information.
- If you contact them or visit their physical location, they should be able to help you with the following steps to join their organization. For people visiting their website, you should be able to fill out a form and submit it to receive a call back for an appointment.
- After this, you should be able to complete your mandatory practical training with the insurance provider and start preparing for the IRDAI-prescribed examination.
- After clearing the examination and getting the license, you can start working with the organisation as an agent and begin on-job training.
Wrapping up
By following the above-given steps and fulfilling the eligibility criteria, you can start your journey as an insurance agent. Whether you wish to become an agent full-time or part-time, this should offer a rewarding and gratifying career and opportunity. By knowing the daily and occasional responsibilities of an agent, you can start your journey with the right foot forward and be able to succeed as an agent.
