Free Life Insurance Agent Course (4Months)

Life Insurance Agent:

Personal Attributes:

Aptitude for conducting training, and pre/ post work to ensure competent, employable candidates at the end of the training. Strong communication skills, interpersonal skills, ability to work as part of a team; a passion for quality and for developing others; well-organised and focused, eager to learn and keep oneself updated with the latest in the mentioned field.

Job Description

To deliver accredited training service, mapping to the curriculum detailed above, in accordance with the Qualification Pack

Introduction to Insurance and Legal Principles of Insurance:

 Importance of insurance, evolution of insurance.
 Determine protection against economic losses arising as a result of unforeseen events, Insurance as an instrument of risk transfer.
 Describe essentials of a valid contract of insurance, insurable interest, utmost good faith, material facts and indemnity.

Risk and Insurance

 Describe risk, types of risk, assessing risk, risk and general insurance and risk and life insurance.

Life Insurance Products, Annuities, Pensions and Health Insurance

Explain life insurance products – traditional and non – traditional life insurance products.
 Ascertain Human Life Value, individual life cycle, role and types of financial planning.

Applications, Price and Valuation of Life Insurance

 Explain applications of life insurance.
 Explain basic elements of pricing, surplus and bonus

Documentation

 Explain proposal stage documentation.
 Explain policy stage documentation.

Underwriting

 Explain basic concepts, non-medical and medical underwriting.

Regulatory Aspects

Describe insurance regulations and regulatory framework, code of conduct.

Life Insurance Selling Process

 Explain sales process, basics of selling, recommendation of product, closing the sale.

Accounting of Insurance

Explain accounting for life and general insurance.

Claims Under Life Insurance, Customer service and Grievance Redressal Mechanism

 Describe types of claims and claims procedure.
 Determine Importance of customer service, role of insurance agent and communication skills, Consumer courts and ombudsman

Guidelines for Assessment
1
The assessment for the theory part will be based on knowledge bank of questions created by the SSC.
2
Individual assessment agencies will create unique question papers for theory part for each candidate at each examination/training centre.
3
Individual assessment agencies will create unique evaluations for skill practical for every student at each examination/training centre based on these criteria
4
To pass the Qualification Pack, every trainee should score the minimum percentage assign to that job role, aggregate of theory and practical.
5
In each paper there will be 60 questions each though it’s online or offline.
6
The assessor will be required to translate the questions from English to local language. And the VIVA also be conducted in English or local language as per their comfort.
7
VIVA will be conducted with Online as well as Offline exams.
8
Pass percentage for Life Insurance Agent exam is 60

Sample Question of Life Insurance Agent Course:

1 What are/is condition/s for non-medical underwriting among the following ?
a. Upper limits on sum assured
b. Age at entry limits
c. Maximum term of insurance
d. All of the above

2 Doctors appointed by insurers will be _
a. Physician
b. Specialists
c. Surgeons
d. Dentists

3 Which of the following statements are True: (a) It is the agents responsibility to ensure that all material
information is made available (b) If the proposal paper is incomplete, the agent will be held accountable
a. A
b. B
c. Both A and B
d. Noether A Nor B

4 A policy which has run for 8 years can be called into question if there is a _
a. Fraud
b. Misrepresentation
c. Mistake
d. Life Assured developed a disease

5 If the proponent has no insurable interest in the insured the underwriter will ?.
a. Accept with reduce sum assured
2
b. Decline the proposal
c. Accept with lien
d. Accept with extra premium

6 ECG or EEG or X-Ray are some of the special reports required in which case/s ?
a. Life assured is of higher age
b. Life assured proposes higher sum assured
c. In both cases these reports are required
d. These reports are not required in any case

7 Occupational Hazard can arise from which case/s ?
a. Accident
b. Health Hazard
c. Moral Hazard
d. All of the above

8 High Pressure environment like coal mining occupation is an example of which hazard ?
a. Accidental Hazards
b. Moral Hazard
c. Health Hazard
d. None of the above

9 Bodyguard of a Minister can be an example of which hazard ?
a. Accidental Hazards
b. Moral Hazard
c. Health Hazard
d. None of the above

10 Section 45 of Insurance Act, 1938 deals with ?
a. Premium
b. Maturity
c. Claims
d. Indisputability Clause
3

11 The insurer can repudiate a policy withing Year on the ground of false or non-disclosure of
material fact as per section 45 of Insurance Act, 1938
a. 2
b. 3
c. 1
d. 4

12 Full form of IGMS?
a. Insurance General Management System
b. Indian General Management System
c. Integrated Grievance Management System
d. Intelligent Grievance Management System

13 Which among the following cannot form the basis for a valid consumer complaint?
a. Shopkeeper charging a price above the MRP for a product
b. Shopkeeper not advising the customer on the best product in a category
c. Allergy warning not provided on a drug bottle
d. Faulty products

14 Which of the below statement is correct with regards to the territorial jurisdiction of the Insurance t
Ombudsman ?
a. National jurisdiction
b. State jurisdiction
c. District jurisdiction
d. Specified territorial limits

15 __ will handle consumer disputes amounting between Rs 20 lakhs and Rs 100 lakhs
a. State Commission
b. National Commission
c. District Forum
d. None of the above