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Which company is better to be a successful Insurance agent?
Date: 16 Jul 2009 Posted By: O P Sharma
Group: Finance and Investments Category: Insurance
I would like to be an Insurance agent. I would like to know which Insurance company is better in this area? Also please tell me the basic criteria to be an agent?
|Author: Krishna Chaitanya Yeleswarapu 16 Jul 2009 Member Level: Gold Points : 8 (Rs 8) Voting Score: 0|
As all of us are very ware that Life Insurance Co opeartion (L.I.C) is the best of it`s kind in India.No body has overtook it since from it`s existence.As it is a body functioning under government it is a safe place for you to start your work.But the disadvantage is that you will not have more scope to develop in this company as it is maintained by Government.Your commission may also be in less amount when compared to other companies.
Other insurencing companies in India at present are Bajaj, SBI life, HDFC.All these are private controlled bodies.So,you have to work more here and reach your targets in time.If you complete your targets in less time you may go beyond your targets and make more money.But you will be paid by seeing the work you have done.More you work more you`ll earn in this private sector.But you`ll have more pressure up on you to complete your targets in time.In private insurance companies SBI life is the best when compared to any other companies.This company is giving a tough competiton to LIC.
So,If you think that you can work hard and resist the pressures you can go with private sector.If you think that you can work only up to certain limit then go with LIC.It is the best company.
I had given you an idea about these companies, now it is your turn to think over it and choose a correct way for a better and bright future.All the very best mate.
|Author: Latha Jayaprakash 18 Jul 2009 Member Level: Gold Points : 8 (Rs 8) Voting Score: 0|
Insurance is a sunrise industry and hence you have high scope in this field. As an insurance agent, you will have to remember some critical points when you choose which company you want to work for.
1. The brand - Choose a top company, you will be able to focus on selling the product instead selling the brand and then the product.
2. Products - Choose one which keeps innovating its product line as it will give you more scope to sell consistently.
3. Commission and benefits - Apart from commission what are the other benefits that one can get.
LIC has been the strongest insurance brand in India and hence is definitely worth considering. Brands which have backing of reputed banks like SBI Life, ICICI Prudential Life and HDFC Standard Life will also help as they are trusted by public in India. As an insurance agent, you will have to meet a minimum business guarantee (usually 12 policies in a year) without which your insurance licence will be revoked. Apart from this, the company cannot exercise any other pressure on an agent.
Insurance is a lucrative business and doing great business would mean you can participate in global conventions (called MDRT, COT, TOT) where you have scope to travel abroad and participate in forums. Hence working with aggressive private sector companies will give you the right environment to make this a great profession. For such exposure, I would recommend the leading companies like LIC, ICICI Prudential & SBI Life. All the best!
|Author: vimlesh 18 Jul 2009 Member Level: Silver Points : 2 Voting Score: 0|
In today world insurance sector is fastest growing sector in India. There lots of opportunity regarding career as financial consultant like insurance advisor.
In semi government sector there is LIC is one of best company for Insurance agent.
In private sector there Bajaj alliance, ICICI prudential is one best to kick start your career.
|Author: soubhagya das 18 Jul 2009 Member Level: Gold Points : 2 Voting Score: 0|
if you have completed your 12th standard then you are eligible for becoming an Insurance agent.
becoming an Insurance agent you have to give IRDA exam and you have to get trained for the exam for 100 hour any of the company you choose.
Suppose you want to become an agent of ICICI PRUDENTIAL then they will trained you for 100 hour and then you will appear for IRDA exam.
if you clear the exam successfully you become an Insurance agent of ICICI PRUDENTIAL.
and about top company I was an ex-employee of ICICI prudential and I have much more idea about this company for freshers this will be the best platform to learn more things about insurance and about other things like share market and mutual fund how insurance money is being utilised in all these sectors because they have their own broking company as well as Asset management company
|Author: Nilespan 19 Jul 2009 Member Level: Gold Points : 4 (Rs 2) Voting Score: 0|
I have nothing to say as my friends already suggested you above about your doubt. To add to that is LIC is fit into everyones as it is backed by our Government and hence naturally no one will say no to LIC if products sold with proper explanation.
Now there exists lot of other private players in market and they offer the same products or somewhat different with Higher Commission to Agents and hence there is more sale found in their Selling.
And after all its upto the Agent how he/she sells products of any Insurance Company. Its Agents Skills comes first then the Company.
|Author: Jyoti Malhotra 01 Aug 2009 Member Level: Gold Points : 5 (Rs 3) Voting Score: 0|
An ideal choice will be LIC as many among think it is safe bet to invest in Government company. Let me tell you that LIC is losing its ground in insurance market. In year 2000, LIC has 100% stake in life insurance market and now in year 2009, the stake has gone to 55% and it has lost 45% to other private insurers. LIC don't offer any infrastructure to its agents and its your efforts to make your market. Secondly, there is glut of LIC agents in the market and many among them offer commission as high as 60% (...nuts!)and making this profession, a deadly blow forever for others to survive. I would prefer you to join an enterprising company like MAX NEW YORK LIFE as it is doing great work in training its agent and offering many different products. You will be able to grasp the subject of LIFE INSURANCE with ease and will be able to reciprocate many financial products with your understanding.
|Author: ReddiBasha 26 Aug 2009 Member Level: Gold Points : 2 Voting Score: 0|
The best choice is LIC. Since it is government organization, many people show interest in investing in LIC. Moreover, people do not need any introduction about LIC to the people to whom you meet. It also offers you good income in terms of commission. Much more other benefits like loans for agents, gifts, other financial help, etc.
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