7 benefits of becoming Insurance agent in India

Being an insurance agent is not just about selling policies but securing the future, creating dreams, and building interpersonal relationships with customers. Unlike any other professional job, an insurance agent gets much financial freedom with a limited number of restrictions which has led to a rise in its popularity among job seekers.

But there are several other benefits you can go through before choosing the insurance industry as your working sector. Let’s understand some pros of being an insurance pos agent.

Who is an Insurance Agent?

An insurance agent is an individual who bridges the gap between the insurer and the customer. They help customers to buy the most suitable plan, and insurers to reach out to customers.

What are the Benefits of Becoming an Insurance Agent?

Insurance agents get many benefits from the insurer company or the broker for whom they work. These benefits are not just limited to monetary returns but also lead to social and self-development.

Insurance agents get some life-long benefits which are mentioned below:

Be your Own Boss

If you want to work independently with no interference from others, this job is a great suit for you. By investing a good amount of time and having a disciplined schedule, you can achieve your desirable position in this working sector. You can generate a good amount of income by enhancing your performance and skills.

Freedom to work also enhances the efficiency of the individual and helps them to give their best to the work.

Early Earning

The age limit to apply for the job of an agent is 18 years. After passing the 12th examination, you can become an insurance agent and start your career with multiple possibilities. Starting at a younger age will enhance your knowledge and expertise in this field.

No Limit on Earning

Agents also get a commission for the sale of plans along with their basic salary. Commission depends upon the dedication and performance of the insurance agent. There is no income limit for the hardworking and consistent insurance agent. Your earnings are directly related to your performance in this sector.

Flexible Working Hours

There are no restricted working hours for insurance agents. You are allowed to work as per your wants and requirements. This benefit helps you to generate additional income along with your current job, studies, or household responsibilities. If you are a retired individual, you can also restart your career to be financially independent.

Zero Investment is required

This job does not demand any financial investment or specific educational qualification. All you need to have are some skills to be an insurance agent.

Some of the basic skills required for this job are determination, good communication skills, problem-solving skills, empathy, motivation, knowledge of the product, and passion.

Income Stability

Insurance agents get a fixed percentage of commission on the premium of sold plans as per the guideline of IRDAI. Regular income generation gives financial surety to the agent and gives rise to the income stability of the agent.

Updated Training programs

The insurance company provides training and development programs for the agents to increase productivity. This training program gives product knowledge and helps to enhance the skills of the individual.

What is the role of an Insurance Agent in India?

After going through the benefits, you must be willing to work as an insurance agent. But before that let's understand the role of an insurance agent to make the right decision relating to your career choice.

Some of the main functions performed by an Insurance Agent are as:

1. Identification of customers to sell insurance plans.
2. Arrangement of meetings with the customers.
3. Advising the clients for suitable coverage plans.
4. Explanation of the purchasing and claiming procedure to the customers.
5. Representation of the company among customers.
6. Consider the questions of the clients.

Reaching out to customers who have shown initial interest in purchasing the policy.

Conclusion

If you are looking for a job profile that has flexibility and freedom at the same time, the insurance agent job is a thing for you. Reading about the benefits and role of the insurance agent will help you to understand it better. Also, before starting any job it is better to go through its benefits and responsibilities to know its suitability for you.

In short, a dedicated person can grow endlessly in this sector by upgrading their skills and productivity.

FAQs - About 7 benefits of becoming Insurance agent in India

1. Can a housewife become an insurance agent?

Yes, a housewife can also work as an insurance agent. This job offers flexible working hours with no such restriction on mode or place of job.

2. How do insurance agents help companies?

Insurance agents arrange clients for the companies, get their follow-up, and make the buying/ claiming process more convenient.

3. What are the eligibility criteria to become an insurance agent?

As per the guidelines of the IRDAI, a person should be an 18+ Indian citizen and at least a 10th pass for rural and a 12th pass for urban areas.

4. What are some primary benefits of becoming an insurance agent?

Insurance agents get a fixed percentage of commission on premiums along with their basic pay.