How to became an Insurance agent

What is Insurance?

Insurance is one of the popular safety measures that have been used by people all over the country for the life especially during financial crisis or health or during any other damages. As sometimes we don’t have enough money to take over the situation. At those specific times, insurance will be useful. There are many types of insurance that have been framed by the government in each country. Let’s take look at the different kinds of insurances that will be available for us.

Importance of Insurance:

First of all, we could have a question that why insurance is so important, here is a simple view behind enabling insurance policies. The reason is it makes us feel secured of financial needs when something happens uncertain. Because accidents, health issues, or even jobless is uncertainty that happens to us and we don’t know either it could happen or not, but at that insurance might be the biggest thing that could help us.

Thus it makes us understand there is much valuable importance that Insurance gives us, but it’s not easy to understand why there are lots of financial insecurities that we had or in the world. It’s something the most couldn’t grab those insights behind it. But let’s focus on other impacts of insurance below.

What is an insurance policy?

    Insurance policy is nothing but what kind of policy are you enabling like car insurance, health insurance, life insurance, etc. As there are lots of specific insurances each has its own policy which includes the terms to follow up for the insurance.

How Insurance policy is framed?

    In each country, there is a set of an institution that is framed by the government to enable the terms & conditions. As they have supreme power to audit and make the proper set of rules to be followed. For Example, In India, the government made an institution named IRDA – Insurance regulatory Development Authority which frames set rules and policies to be followed by the Insurance Companies and the Insurance holders.

How to earn Money with Insurance:

•         Became an Insurance agent
•         Drive customers for the insurance policies
•         Earn a certain number of commission for each sale and payments

Became an Insurance agent:

Insurance agents are the persons who earn represent the insurance companies to promote their policies and plans. Thus it's their duty to do promotion and get benefit as commission for each.

How to become an Insurance Agent:

Step 1: Go to the Insurance company ( Best – LIC)

Step 2: Enroll and fill up the application form from the Insurance agent exam

Step 3: Get training and  write the IRDA exam

Step 4: Clear the exam and get certified as an Insurance agent

Step 5: Start promoting about the insurance policies

Step 6: Earn more revenue for each payment of the policies

Drive customers for the insurance policies:

This step is most important as we need to drive or make a conversion of sales. It's utmost a difficult to enhance the sales, but we need must deliver in order to get more revenue. Let check few steps that we can have more conversion.

•         Have a clear and in-depth knowledge about the insurance policy
•         Be confident while you engage with customers
•         Try to build goodwill and a nice relationship with the people
•         Think about their needs and wants before discussing the policy benefits
•         Avoid false or unwanted talks about insurance policies
•         Build a trust that the customer believes your services.
•         Promote insurance policies and benefits through social media.
•         Create an awareness campaign about insurance policies and their benefits through various platforms
•        Be ensure about the terms and conditions of the insurance policies

 Earn a certain percent of commission for each conversion of policy:

This is the last step has once you’ve successfully converted the Insurance policy you must enlighten revenue for each monthly or yearly payment that the customers pay the policy. It’s one of the best-earning options that you could have an additional source for the earning or adding up more revenue.

Benefits of Insurance Policy:

•         Helps in uncertainty financial needs
•         Helps in Payment of loss
•         Tax Benefits
•         Savings

Disadvantages of Insurances:

• Expensive Policies
• Bad for shorter-term
• Delay of getting claims

Conclusion:

    From this chapter we could know the value or importance of Insurance thus it gives an impact on payment of uncertainty loss or financial needs.