Question: What Is IRDA Certification?

Do LIC agents get salary?

Lifelong income: LIC pays you the commissions on premiums for policies you sold long after you retire.

Some LIC agents earn between Rs.

1.2 million to Rs.

1.5 million per month, which is higher than the best paid job in India..

Who is the No 1 insurance company in India?

Life Insurance Companies in IndiaS. NoName of the Company1.Life Insurance Corporation of India2.HDFC Life Insurance Co. Ltd3.Max Life Insurance Co. Ltd.4.ICICI Prudential Life Insurance Co. Ltd20 more rows

How many insurance exams are there?

In 2019, LIC had released 17000+ vacancies three exams i.e. LIC AAO, LIC ADO & LIC Assistant. This shows that there are immense opportunities in Insurance sector.

What is the full form of IC 38?

The eligibility to become an Insurance Agent is that one needs to pass IRDA IC38 i.e. Insurance Regulatory and Development Authority which is an independent body for endorsing and regulating of insurance.

How many IRDA members are full time?

five fullIt is a ten-member body consisting of a chairman, five full-time and four part-time members appointed by the government of India. At present ( 1 Sept, 2018 ), the authority is chaired by Dr. Subhash C.

Which insurance company is under IRDA?

Registered Insurers – LifeAegon Life Insurance Co. Ltd.Aviva Life Insurance Co. India Ltd.Bajaj Allianz Life Insurance Co. Ltd.Bharti AXA Life Insurance Co. Ltd.Birla Sun Life Insurance Co. Ltd.Canara HSBC Oriental Bank of Commerce Life Insurance Co. Ltd.DHFL Pramerica Life Insurance Co. Ltd.Edelweiss Tokio Life Insurance Co. Ltd.More items…

What is the fees of IRDA exam?

The registration fee for attending the IRDA agent exam is Rs. 700/-. Exam fee for attending the test is Rs.

How tough is IRDA exam?

Pulkit, it is not tough. Don’t take it casually, be serious , that’s all. It I not designed for super intelligent. It is more to judge whether you have acquired basic theoretical knowledge.

What is the validity of IRDA Licence?

As per IRDA regulations you need to renew your surveyor license every five years. The system sends you a reminder email 3 months before the license expiration date informing you to renew your license before expiry.

How do I become IRDA certified?

Regulation 4 of the regulations (i.e. IRDA (licensing of Insurance Agents) /Regulations, 2000) requires that a person desiring to obtain or renew a license to act as an insurance agent or a composite insurance agent shall possess the minimum qualification of a pass in 12th standard or equivalent examination conducted …

How can I pass IRDA exam?

Passing 35% =18 (even you score 17 marks ,One mark will be given as grace )Strategy To Pass this IC 38 LIC agent Exam.Obtain Minimum Marks.First Solve 10 question minimum——————10.Tick Ans “C” option remaining 40 Question———–10 (Probability)Total Obtain Marks=======20(Passed)

What is IC 38 exam?

IC38 is a subject related to Insurance Industry. IC38 exam is conducted for people who want to become insurance adviser in any Insurance company. IC38 Subject contains all basic aspect of Life, Health and General Insurance industry. This Subject starts with inception of insurance to Reinsurance.

Is it good to become LIC agent?

2] Attractive Remuneration: LIC offers one of the best remuneration systems in the industry that not only takes care of your current earnings, but also guarantees an earning for the future. As LIC agent, you can set your own income targets with a potential to earn as much as you want for the rest of your life.

What is the purpose of IRDA?

Insurance Regulatory and Development Authority (IRDA) Act, 1999 spells out the Mission of IRDAI as: “… to protect the interests of the policyholders, to regulate, promote and ensure orderly growth of the insurance industry and for matters connected therewith or incidental thereto……”

What is the passing marks for IRDA exam?

Measure intended to attract more advisors to insurance. Measure intended to attract more advisors to insurance. IRDA has reduced the passing mark for the pre-recruitment examination of insurance agents from 50 percent to 35 percent.

Is there any negative marking in IRDA exam?

The Test contains 50 Multiple Choice Questions. … Each question carries one mark. There is NO NEGATIVE MARK for wrong answers. To qualify a person should get 35% marks.

What are the features of IRDA?

The following are salient features of the IRDA Act (1999): The insurance sector in India has been thrown open to the private sector. The second and third schedules of the Act provide for removal of existing corporations (or companies) to carry out the business of life and general (non-life) insurance in India.