Unlimited Access to Online Course Modules at a Click
Learn More
Career as Insurance Sales Agent

Career as a Insurance Sales Agent

About Insurance Sales Agent

An Insurance Sales Agent is a person who is responsible for marketing and selling insurance policies. Insurance Sales Agents have to meet and talk to potential clients, find out about the financial or insurance requirements and provide them suggestions for the best policies available as per their needs. They are required to be good negotiators and have good convincing skills as clients are often reluctant to invest in insurance policies. An Insurance Sales Agent is a field-job that requires professionals to visit clients at their convenient locations such as their home or office. They must be prepared with all of the information and forms to make a sale on the spot if a client agrees to purchase a policy.

Insurance Sales Agent is an attractive career that comes with many benefits such as flexible job schedules, incentive-based income and freedom from a boring desk job. It is a good job for an extrovert and outspoken person who has a charming personality and is trustworthy. The job requires a lot of roaming around and Insurance Sales Agents often have to stay alert about any prospective opportunities for making a sale. To excel in this field, an agent must have a good knowledge of the market and scope of insurance and financial services. Having good knowledge of the field helps agents to provide accurate information to their clients and, through that, build trust for making a sale. Since insurance is a long-term investment, Insurance Sales Agents are also required to stay in touch with their clients and keep them updated with any required information.

Eligibility to become Insurance Sales Agent

Insurance Sales Agent is a career that can be taken up by almost anyone. It is a job that promises financial freedom to individuals and companies often hire Insurance Agents on a part-time basis with a commission-based pay scale. Hence, the requirements for an Insurance Sales Agent are relaxed as compared to other careers. The details can be found in the table below.

Requirements to Become an Insurance Sales Agent

Education

  • For most of the cases, a bachelor's degree in any stream is enough to become an Insurance Sales Agent.

  • Some companies may even hire candidates with Class 12th level of education.

  • However, to rise in this field, candidates should ideally have a background in banking, insurance, finance, accounts or other related disciplines.

  • Insurance Agents might also be required to have an MBA to be considered for senior management posts.

Certification

Insurance Sales Agents must have completed a Certification course involving at least 25 hours of online or offline training.

Candidates are required to be licensed by IRDA to be working as an Insurance Sales Agent.

Work Experience

No work experience is required to become an Insurance Sales Agent.

Skills

  • Charming and outgoing personality.

  • Well-groomed with a confident outlook.

  • Excellent communication skills.

  • Ability to succeed in a target-based environment.

  • Comfortable with meeting new people.

Courses to Become an Insurance Sales Agent

Given below are some of the best courses to become an Insurance Sales Agent.

Course

Average Fee

Banking and Insurance Colleges in India

Bachelor of Business Administration (BBA)

Rs. 1 lac to 1.5 lacs

BBA Banking and Insurance

Rs. 2 to 2.5 lacs

MBA in Banking and Insurance

Rs. 2.5 to 3 lacs

For a simple and easy application process to popular Banking and Insurance colleges, fill the Common Application Form (CAF). If you have any questions, please call our helpline number 18005729877.

Types of Job Roles Insurance Sales Agent

Given below are some of the common types of job roles associated with Insurance Sales Agents.

  • Assistant Manager - Insurance Sales

  • Assistant Agency Manager

  • Agency Manager

  • Area Sales Manager

  • Inside Sales Executive

  • Agency Development Manager

  • Senior Sales Manager

  • Insurance Sales Executive etc.

Employment Sector/Industry for Insurance Sales Agent

Insurance Sales Agent is an entry-level job in the financial services sector that has virtually unlimited scope for growth. Insurance Sales Agents are often given the freedom to choose their work schedule and they are also free to choose the manner in which they want to conduct their business. A large portion of the candidates who take this career up does so as a part-time option for some extra income. However, for a candidate who is dedicated to making this their career, there are ample opportunities for growth in the industry.

Planning to choose Insurance Sales Agent as your career?

Pay Scale/Salary of Insurance Sales Agent

Given below are the details regarding the average salary and salary growth of Insurance Sales Agents in India.

Job Profile

Average Salary

Entry-Level Salary

Mid-Career Salary

Senior-Level Salary

Insurance Sales Agent

Rs. 2.55 LPA

Rs. 2.44 LPA

Rs. 3.05 LPA

Rs. 4.90 LPA

Books & Study Material to Become Insurance Sales Agent

Here are some of the best reference books available for Insurance Agents.

  • Talking to Strangers: The Adventures of a Life Insurance Salesman by Peter Rosengard

  • Questions and Answers on Life Insurance: The Life Insurance Toolbook by Anthony Steuer

  • The New Life Insurance Investment Advisor by Ben Baldwin

  • The Psychology of Selling by Brian Tracy

  • The 4-Hour Work Week by Timothy Ferriss

Pros of becoming a Insurance Sales Agent

  • The job allows a flexible work schedule.

  • Incentivised incomes with bonuses on completing targets.

  • Good choice of career for candidates who do not like desk jobs.

Cons of becoming a Insurance Sales Agent

  • The income varies as per your performance.

  • It is a difficult task to find new clients and convince them to buy policies.

  • Pressure from agencies to keep selling policies.

Paths for Being Insurance Sales Agent

FAQs about Insurance Sales Agent

What are the advantages of becoming an Insurance Sales Agent?

There are several advantages of a career as an Insurance Sales Agent. These include a flexible work schedule, good option for candidates who do not like desk jobs.

Can I become a part-time Insurance Sales Agent?

Yes, it is possible to take up an Insurance Sales Agent as a part-time job. Insurance Companies often pitch these jobs as a way to earn additional income.

Does the Insurance Sales Agent job have a good future?

Employment opportunities for Insurance Sales Agents have grown in the past and the trend is expected to continue in the future.

What documents are required to apply for an Insurance Sales Agent job?

The documents required to apply for an Insurance Sales Agent job will include a PAN Card, Aadhar Card, Academic Documents, Address Proof and Photographs.

Is Insurance Sales Agent a stressful job?

An Insurance Sales Agent can get stressful as there is a pressure of selling policies and a large portion of an Insurance Sales Agent's compensation can depend on the number of sales they make.

What is the salary of an Insurance Sales Agent?

The salary of an Insurance Sales Agent is heavily influenced by the number and amount of insurance products they sell in a salary cycle. The average salary earned by an Insurance Sales Agent in India is around Rs. 2.50 LPA.

How can I become an Insurance Sales Agent?

In order to become an Insurance Sales agent, you must follow the norms specified by IRDA. Insurance Agents are required to have completed a training course from an IRDA-approved institute after which they must pass an examination conducted by the agency. Students who are able to pass the exam receive a license from IRDA which makes them eligible to sell insurance products.

What is the minimum qualification required to become an Insurance Sales Agent?

The minimum qualification required to become an Insurance Sales Agent is Class 12th. However, some companies may require their agents to at least have a bachelor's degree.

What skills must a good Insurance Sales Agent have?

A good insurance sales agent must be self-motivated, confident, charming, communicative, knowledgeable about insurance products and persuasive.

Who is an Insurance Sales Agent?

An Insurance Sales Agent is a person who is given the task of finding new clients for an insurance agency, providing them information regarding the insurance products offered by the company and convincing them to purchase a product.

View More

Confused on what to choose as your career?

Top