Being an insurance advisor is a lucrative career opportunity. You can earn limitless commissions on the plans you sell and work at your convenience. However, becoming an advisor requires you to clear IC 38 exam. The insurance advisor exam is prescribed by the IRDAI (Insurance Regulatory and Development Authority of India) and individuals who clear it can get a license to act as an insurance advisor.

Insurance exams in India

In order to become an insurance advisor with the insurer directly, you need to clear the IC 38 examination. This is the traditional way to become an insurance advisor and then earn commissions for the policies sold. You can sell insurance policies of only that insurance company with which you are enrolled as an insurance advisor.

Let’s understand the details about this insurance advisor exam –

IC 38 Exam Eligibility Criteria

To apply for becoming an advisor and sit for the exam you should qualify on some eligibility parameters. Only if you meet the specified eligibility criteria can you appear for an insurance advisor’s exam and get your license. Here are the basic criteria required to be met –

  • You should be at least 18 years old
  • You should have passed Class 10 if you live in a rural area and Class 12 in case of an urban area

Insurance exam preparation

Preparations for the insurance advisor exam are simple. There is an IRDA certification course prescribed by the IRDAI. Training is provided by authorised institutions which equip you with the basic syllabus of the examination conducted. You understand the basics of insurance and its important concepts. As per the IRDAI prescribed insurance exam syllabus, you are taught the following –

  • The concept of insurance, its need and purpose
  • The important terms associated with insurance like risk, peril and hazard
  • The insurance market and its channels
  • The principles of insurance
  • How to sell, etc.

If you take the training properly, understand the insurance concepts and arm yourself with the knowledge you get, your insurance exam preparations are done and you can easily clear the insurance advisor’s exam