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Before signing an Insurance Form, you must read the terms and conditions carefully and the entire form along with all declarations before you agree by signing the same. Whatever the insurance agent tells you can be verified by the company representative on the company helpline and should be counter checked before the forms are signed.
Further, after signing the forn, once the policy is issued, you must read the Policy Document carefully, since you have a period of 15 days from the date of receipt of the documents as Freelook Period. Within this period, if some condition is not acceptable to you or the policy has been misquoted or mis sold, then you can cancel this policy under Freelook Cancellation.
However, if you are dealing with an Insurance Agent, there are 5 things to keep in mind while dealing with an insurance agent.
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There are so much greviences against Kotak Life Policy holders when I see on the NET. Because Insurance company appoints the person to sell the policy. They will follow all sort of malpractices/concealing the facts and some how sell the policy. Why IRDA is not safeguarding the interest of public.
IRDA tries their best to curb malpractises and hence there has been steps like signing of illustration, callback from call centre to ensure agents do not mis sell, lesser commission on ULIPs, etc. However a lot of mis-selling still takes place and there is hardly anything that the regulator can... Read More>>
Is there any particular qualification of the marketing persons who are selling the insurance policy as per the guidelines of IRDA.
Yes, as per the IRDA guidelines, the agent needs to have passed class 12 in urban areas and class 10 in rural.
i want to take agency in health insurance. Which is good Appoli munchi is good or star health is good co. for this? which co. health policies are good and good claim settlement ratio? in which co. hospitals are good? i am alresdy lic agent?
It totally depends on the client base and what kind of policies they need. Both these companies are IRDA accredited good companies with excellenet products and claim ratios.Hence both these companies are good.
My General Insurence Licence is Expired on 10/2012. Can I renew it Now? What is the Procedure? and Give any contact No. of any concerened Person, who can help me.
You need to contact the nearest branch of the company from where you have a general insurance license. If your license has expired, you need to undertake the IRDA examination again. Then undertake 50 hours of training and then appear for the IRDA exam again for general insurance and then start... Read More>>
My name is Vineet i am having a composite liscense to work as LIC and GIC agent .I would like to know that can i join any health insurance company to sell health insurance products. My E mail id is firstname.lastname@example.org.
Pls guide if there could be any problem to renew the...
You can renew your composite license and there should be no concerns if you are working with a stand alone health insurance company. You can always do so while working with LIC as well as GIC.
i would like to be an Agent for motor insurance. I am already having Life insurance Advisor certificate from IRDA.kindly guide to do Non-Life
To become a composite license holder you need to contact the General Insurance Company from where you want to sell health plans and then undertake 25 hours of training and then appear for the IRDA exam again for general insurance and then start selling General Insurance policies once this is
well i wanted to know what is the process to became a car/general insurance agent,pls guide me abt.this or also tell me is there any fix target to sell policies.
or what is the margin of profit in this carreier.
The Profit Margin or the commission structure depends on the company that you would like to join. Once you decide on that, you can contact a sales manager or development officer regarding the same and they would be able to proivde you with their commission structure.
To become an advisor... Read More>>
I have Life Insurance License & I want change my Insurance company please guide for this.
To change you company, you need to get an NOC from your insurance company by putting in your resignation and then requesting them to forward the same to IRDA. Thus, you can cancel your license by simply writing a resignation with a valid reason. This is usually a long process and gets initiated only... Read More>>
Hi Sir. I was working as LIC agent from 2003 to 2011. My license expired in Jan.,13.At present I am working as Mutual fund advisor. Now I want to work as insurance adviser of Max Bupa health insurance Co.Please let me know the formalities regarding Training required & whether is it necessary to have...
You need to contact Max Bupa Health Insurance company and they would process your license regarding the same. You can revive your LIC license and then opt for Max Bupa as an additional tie-up since you can sell stand alone health product only when you have a valid license, be it Life, General or... Read More>>
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