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Whats is IC 38

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.

What is Insurance Agent Licence?

Individual Agents

An individual agent is one who has undergone requisite training, passed an examination and been duly licensed

by IRDA to sell insurance polices to the public and provide after-sales service including assisting at the time of a

claim. His licence may be for life insurance, general insurance or both.

How to become Insurance Agent – IC 38 Exam

IC 38 exam is an initial step to become IRDAI Agent/Insurance Advisor. Insurance Institute of India (III) on behalf of IRDAI (Insurance Regulatory and development Authority of India), conducts this pre recruitment qualification examination.

Pre recruitment test for insurance agents is conducted on an online platform where the results are seen instantly on the monitor as soon as you submit your test paper.

Within a period of 1 hour, 50 multiple choice questions are to be answered. 35% marks are required to pass the exam (minimum 18 marks). There is no negative marking system; hence no question should be left unanswered.

Eligibility Criteria for becoming Insurance Advisor

Insurance Regulatory and Development Authority (Licensing of Insurance Agents) Regulations, 2000 requires, applicant to have the minimum qualification of 12th standard pass.

If the applicant resides in a place with 5000 or more population he should be 12th standard exam passed from recognised board while applicant should be 10th passed from recognised institution if he resides in a place with population less than 5000.

Insurance Agent cannot change the Agency from one Insurance Company to another. So, you need to be very careful when you choose the Insurance Company.

An Individual Agent on his name can take maximum 3 Licenses’ from the Life Insurance, General Insurance & Standalone Health Insurance Companies.

Initial steps to be followed to become Insurance Agent:

Choose the Insurance Company for which you want to become Insurance Agent.
Walk to the nearest office of your chosen company OR Apply online on Insurance Company’s website OR
Enrol yourself with the Insurance Company you wish to be associated with as only through the Insurance Company you will be able to appear for examination.
Complete the formalities by submitting the completed form along with the birth proof and highest qualification proof to Insurance Company office.
Complete 50 hours training from IRDAI approved training institutions. Now-a-days, extensive In-house trainings are arranged by Insurance companies which help you to prepare for IRDAI examination. Applicant seeking license for the first time to act as composite insurance agent will have to complete 75 hours of training.
Once the training is completed you will be provided with Training Completion Certificate from the Insurance Company to appear for the IRDAI Insurance pre recruitment qualification examination.
Post examination & based upon the issue of the license by the Designated Person of the Insurance Company the agent should enter into an agency agreement with the Insurance Company valid for a specific period.


Composite Insurance Agent:
Composite Insurance agent holds a licence to act as an insurance agent for both Life Insurance Company and General Insurance Company.

IRDAI insurance agent can represent one life insurance Company and one non-life insurance company and can also represent one standalone health insurance Company (SAHI Company).

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