Description
Course Name: Certificate in Insurance & Wealth Management
Course Id: CIWMQ1001.
Eligibility: Completion of 10th Grade (high School) or equivalent.
Objective: The Certificate in Insurance & Wealth Management is an essential qualification for individuals interested in pursuing a successful career in the life insurance industry. This course provides the necessary skills and knowledge to sell, manage, and service life insurance products effectively, while also ensuring that agents are well-versed in the legal and regulatory aspects of the industry.
Duration: Three Month.
How to Enroll and Get Certified in Your Chosen Course:
Step 1: Choose the course you wish to get certified in.
Step 2: Click on the “Enroll Now” button.
Step 3: Proceed with the enrollment process.
Step 4: Enter your billing details and continue to course fee payment.
Step 5: You will be redirected to the payment gateway. Pay the course and exam fee using one of the following methods:
Debit/Credit Card, Wallet, Paytm, Net Banking, UPI, or Google Pay.
Step 6: After successful payment, you will receive your study material login ID and password via email within 48 hours of fee payment.
Step 7: Once you complete the course, take the online examination.
Step 8: Upon passing the examination, you will receive:
• A soft copy (scanned) of your certificate via email within 7 days of examination.
• A hard copy (original with official seal and signature) sent to your address within 45 day of declaration of result.
Step 9: After certification, you will be offered job opportunities aligned with your area of interest.
Online Examination Detail:
Duration- 60 minutes.
No. of Questions- 30. (Multiple Choice Questions).
Maximum Marks- 100, Passing Marks- 40%.
There is no negative marking in this module.
| Marking System: | ||||||
| S.No. | No. of Questions | Marks Each Question | Total Marks | |||
| 1 | 10 | 5 | 50 | |||
| 2 | 5 | 4 | 20 | |||
| 3 | 5 | 3 | 15 | |||
| 4 | 5 | 2 | 10 | |||
| 5 | 5 | 1 | 5 | |||
| 30 | 100 | |||||
| How Students will be Graded: | ||||||
| S.No. | Marks | Grade | ||||
| 1 | 91-100 | O (Outstanding) | ||||
| 2 | 81-90 | A+ (Excellent) | ||||
| 3 | 71-80 | A (Very Good) | ||||
| 4 | 61-70 | B (Good) | ||||
| 5 | 51-60 | C (Average) | ||||
| 6 | 40-50 | P (Pass) | ||||
| 7 | 0-40 | F (Fail) | ||||
Key Benefits of Certification- Earning a professional certification not only validates your skills but also enhances your employability. Here are the major benefits you gain:
Practical, Job-Ready Skills – Our certifications are designed to equip you with real-world, hands-on skills that match current industry demands — helping you become employment-ready from day one.
Lifetime Validity – Your certification is valid for a lifetime — no renewals or expirations. It serves as a permanent proof of your skills and training.
Lifetime Certificate Verification – Employers and institutions can verify your certification anytime through a secure and reliable verification system — adding credibility to your qualifications.
Industry-Aligned Certification –All certifications are developed in consultation with industry experts to ensure that what you learn is current, relevant, and aligned with market needs.
Preferred by Employers – Candidates from ISO-certified institutes are often prioritized by recruiters due to their exposure to standardized, high-quality training.
Free Job Assistance Based on Your Career Interests – Receive personalized job assistance and career guidance in your preferred domain, helping you land the right role faster.
Syllabus:
Introduction to Insurance and Wealth Management: Concept and Importance of Insurance, Types of Insurance (Life, Health, General), Principles of Insurance, Wealth Management Overview, Risk Management and Mitigation, Financial Planning Basics, Insurance as an Investment Tool, Role of Insurance in Economic Development, Regulatory Framework in Insurance, Case Studies on Insurance and Wealth Management.
Life and Health Insurance: Life Insurance Products and Their Features, Term vs. Whole Life Insurance, Health Insurance Plans and Coverage, Critical Illness and Disability Insurance, Group Insurance vs. Individual Insurance, Claim Settlement Process, Tax Benefits of Life and Health Insurance, Role of IRDAI in Life and Health Insurance, Underwriting Process in Life and Health Insurance, Case Studies on Life and Health Insurance Policies.
General and Property Insurance: Types of General Insurance (Motor, Travel, Home), Property and Liability Insurance, Fire and Theft Insurance, Marine and Cargo Insurance, Agricultural and Rural Insurance, Industrial and Business Insurance, Claims Process in General Insurance, Legal Aspects of General Insurance, Importance of Reinsurance, Case Studies on General Insurance Policies.
Investment Planning and Wealth Creation: Concept of Wealth Management, Asset Allocation Strategies, Mutual Funds and Systematic Investment Plans (SIP), Real Estate Investment and REITs, Gold and Commodity Investments, Stock Market Basics and Equity Investments, Retirement Planning and Pension Schemes, Tax Planning and Investment Strategies, Risk-Return Tradeoff in Investments, Case Studies on Wealth Creation Strategies.
Financial Risk Management: Types of Financial Risks, Risk Analysis and Assessment, Insurance as a Risk Mitigation Tool, Hedging Strategies in Investments, Diversification and Portfolio Management, Role of Actuaries in Risk Management, Credit and Market Risks, Regulatory Aspects of Risk Management, Strategies for Managing Economic Uncertainty, Case Studies on Financial Risk Management.
Retirement and Pension Planning: Importance of Retirement Planning, Types of Pension Plans (Government and Private), Provident Fund and Gratuity Schemes, Annuities and Post-Retirement Income, Tax Benefits of Retirement Plans, Role of Insurance in Retirement Planning, Wealth Accumulation for Retirement, Long-Term Investment Strategies, Estate and Succession Planning, Case Studies on Retirement Planning.
A Certificate in Insurance & Wealth Management prepares graduates with knowledge of life insurance products, sales techniques, regulatory frameworks, and customer relationship management. Graduates can pursue various roles in insurance companies, brokerage firms, or as independent agents. Below is a detailed breakdown of career options and salary ranges in India:
1. Life Insurance Agent/Advisor
- Role: Sells life insurance policies, educates clients about products, and helps them choose the best plans.
- Salary Range:
- Fixed salary component (if employed): ₹2 – ₹4 LPA.
- Commission-based income: Varies widely; experienced agents can earn ₹5 – ₹20 LPA or more depending on policy sales.
2. Financial Advisor
- Role: Provides financial planning services, including life insurance, savings plans, and investment advice.
- Salary Range: ₹3 – ₹6 LPA (entry-level); ₹6 – ₹15 LPA (mid-level); commission-based income can significantly increase earnings.
3. Insurance Sales Manager
- Role: Supervises a team of insurance agents, sets sales targets, and ensures client satisfaction.
- Salary Range: ₹4 – ₹8 LPA (entry-level); ₹8 – ₹15 LPA (mid-level); additional performance bonuses.
4. Customer Service Executive (Insurance)
- Role: Assists policyholders with queries, claims, and renewals, ensuring a smooth customer experience.
- Salary Range: ₹2.5 – ₹5 LPA (entry-level); ₹5 – ₹8 LPA (mid-level).
5. Claims Processing Executive
- Role: Handles insurance claims, verifies documentation, and ensures timely settlement of claims.
- Salary Range: ₹3 – ₹6 LPA (entry-level); ₹6 – ₹10 LPA (mid-level).
6. Underwriting Executive
- Role: Assesses the risk involved in issuing life insurance policies and decides coverage terms.
- Salary Range: ₹3 – ₹7 LPA (entry-level); ₹7 – ₹12 LPA (mid-level).
7. Training Manager (Insurance)
- Role: Trains and mentors life insurance agents, improving their sales skills and product knowledge.
- Salary Range: ₹5 – ₹10 LPA (entry-level); ₹10 – ₹18 LPA (senior roles).
8. Bancassurance Executive
- Role: Works with banks to sell life insurance policies to banking customers.
- Salary Range: ₹3 – ₹6 LPA (entry-level); ₹6 – ₹12 LPA (mid-level).
9. Business Development Executive
- Role: Identifies new sales opportunities, builds partnerships, and drives revenue growth in the insurance sector.
- Salary Range: ₹4 – ₹8 LPA (entry-level); ₹8 – ₹15 LPA (mid-level).
10. Independent Insurance Consultant
- Role: Operates as an independent advisor, selling policies for multiple insurance providers.
- Income Potential: Varies widely based on the number and value of policies sold; ₹5 LPA to ₹30 LPA or more.
11. Life Insurance Coordinator
- Role: Supports agents and sales teams by coordinating sales campaigns and customer outreach activities.
- Salary Range: ₹3 – ₹5 LPA (entry-level); ₹5 – ₹8 LPA (mid-level).
12. Corporate Sales Manager (Insurance)
- Role: Manages corporate accounts, sells group life insurance policies, and provides customized insurance solutions.
- Salary Range: ₹5 – ₹10 LPA (entry-level); ₹10 – ₹20 LPA (mid-level and senior roles).
13. Insurance Marketing Specialist
- Role: Develops marketing strategies to promote life insurance products and attract customers.
- Salary Range: ₹3.5 – ₹6 LPA (entry-level); ₹6 – ₹12 LPA (mid-level).
14. Policy Administrator
- Role: Handles policy issuance, renewals, and endorsements, ensuring accuracy and compliance.
- Salary Range: ₹2.5 – ₹5 LPA (entry-level); ₹5 – ₹8 LPA (mid-level).
15. Actuarial Analyst
- Role: Uses statistical models to assess risks and help design life insurance products.
- Salary Range: ₹6 – ₹12 LPA (entry-level); ₹12 – ₹25 LPA (mid-level and senior roles).
Key Factors Influencing Salaries:
- Experience: Entry-level agents earn less, but experienced agents with a large client base can earn significantly higher commissions.
- Employer: Salaries in large insurance companies (e.g., LIC, ICICI Prudential, HDFC Life) tend to be higher.
- Location: Metro cities like Mumbai, Delhi, and Bangalore offer higher pay and better career growth opportunities.
- Certifications: Certifications like IRDA (Insurance Regulatory and Development Authority) or CFP (Certified Financial Planner) can enhance career prospects.
Emerging Trends:
- Digital Platforms: Growing demand for agents skilled in selling life insurance through online platforms and apps.
- Holistic Financial Planning: Increasing need for agents to provide integrated financial and insurance solutions.
- Awareness Campaigns: Rising awareness about life insurance drives demand for knowledgeable professionals.
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