Description
Course Name: Certificate in Life Insurance Advisor
Course Id: CLIA/Q0101.
Eligibility: Completion of 10th Grade (high School) or equivalent.
Objective: The Certificate in Life Insurance Advisor provides essential training for individuals interested in pursuing a career in the life insurance industry. With comprehensive knowledge of life insurance products, sales techniques, regulations, and customer service, graduates can thrive in a rewarding career. As the life insurance sector continues to grow, this diploma opens up numerous career opportunities, offering both salaried and commission-based roles with significant earning potential.
Duration: 90 Hrs (Equivalent to 3 months).
How You will Get Diploma Certificate:
Step 1- Select your Course for Certification.
Step 2- Click on Enroll Now.
Step 3- Proceed to Enroll Now.
Step 4- Fill Your Billing Details and Proceed to Pay.
Step 5- You Will be Redirected to Payment Gateway, Pay Course and Exam Fee by Following Options.
Card(Debit/Credit), Wallet, Paytm, Net banking, UPI and Google pay.
Step 6- After Payment You will get Study Material Login id and Password on your email id.
Step 7- After Completion of Course Study give Online Examination.
Step 8- After Online Examination you will get Diploma Certificate soft copy(Scan Copy) and Hard Copy(Original With Seal and Sign).
Step 9- After Certification you will receive Prospect Job Opportunities as per your Interest Area.
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) | ||||
Benefits of Certification:
- Government Authorized Assessment Agency Certification.
- Certificate Valid for Lifetime.
- Lifetime Verification of Certificate.
- Free Job Assistance as per your Interest Area.
Certificate in Life Insurance Advisor
Introduction to Insurance: General insurance, fire insurance, marine insurance, motor vehicle insurance, Medi- claim and accident insurance, burglary and theft insurance.
Classification of insurance: Evolution of insurance in modern India, life insurance basics, role of intermediaries in insurance industry, types of insurance agents, regulation of insurance business in India, IRDA regulation relating to products approval.
Documents required to apply for an insurance policy: Understanding and managing risk, general principles and concepts of insurance, insurance contract and Indian market conditions, regulatory environment- specific legislations, international regulatory framework, life insurance & pension products, general insurance products.
Protection of policyholder’s interests: Changes in definitions and deletion of redundant provisions, merger of provisions of IRDA act, 1999 with the insurance act, 1938, grievance redressal mechanism, legal issues requiring reform in insurance law: repudiation of insurance policy, provisions relating to penalties and other and changes.
AML and KYC guidelines: Introduction, highlights of key provisions affecting financial institutions, identification and assessment of ML/FT risks, mitigation of ML/FT risks, AML/CFT administration and reporting.
Process Premiums and Claims: Objective, recognition and measurement, embedded derivatives, impairment of reinsurance assets, future investment margins, discretionary participation features, explanation of recognised amounts.
Job Opportunities after completion of Certificate in Life Insurance Advisor course:
After completing the Certificate in Life Insurance Advisor program, graduates have a variety of career options in the life insurance industry. These roles involve selling, advising, and managing life insurance policies for individuals and families, helping them secure financial protection. Below is a detailed overview of the career options and salary range in India:
1. Life Insurance Advisor
- Role: Life Insurance Advisors are responsible for selling life insurance policies, offering advice on coverage, premium amounts, and investment options. They help clients select the most suitable life insurance plans based on their needs and financial goals.
- Workplaces: Insurance companies, independent agencies, financial advisory firms.
- Salary:
- Entry-level: ₹2.5–4 LPA (including commissions)
- Mid-level: ₹4–7 LPA (base salary + commissions)
- Senior-level: ₹8–12 LPA (for those handling high-net-worth clients or managing large portfolios)
2. Insurance Sales Executive
- Role: Insurance Sales Executives focus on generating leads, conducting product presentations, and closing sales. They primarily work on commission, earning based on the policies they sell.
- Workplaces: Life insurance companies, insurance brokers, financial institutions.
- Salary:
- Entry-level: ₹2–3 LPA (with commission-based pay)
- Experienced: ₹3–5 LPA (base salary + commissions)
- Senior-level: ₹6–10 LPA (with significant commissions for high-value policies)
3. Insurance Relationship Manager
- Role: Insurance Relationship Managers maintain relationships with existing clients, ensuring they are satisfied with their policies and assisting them in renewing or upgrading their coverage. They also handle claims and provide personalized services.
- Workplaces: Insurance companies, financial institutions, brokerage firms.
- Salary:
- Entry-level: ₹3–5 LPA
- Experienced: ₹5–8 LPA
- Senior-level: ₹8–12 LPA (managing premium clients or large portfolios)
4. Financial Advisor (Insurance Specialization)
- Role: Financial Advisors specializing in life insurance provide clients with comprehensive financial planning services, including investment advice, retirement planning, tax planning, and other insurance products. They integrate life insurance into clients’ overall financial strategy.
- Workplaces: Financial advisory firms, banks, independent consultancies, insurance companies.
- Salary:
- Entry-level: ₹3–4 LPA
- Experienced: ₹6–8 LPA
- Senior-level: ₹12–20 LPA (for those managing high-net-worth individuals)
5. Insurance Underwriter (Life Insurance)
- Role: Life Insurance Underwriters assess the risk of insuring clients by analyzing their medical history, lifestyle factors, and other information provided during the application process. They determine the terms and premiums of the insurance policy.
- Workplaces: Life insurance companies, underwriting firms, third-party administrators.
- Salary:
- Entry-level: ₹3–4.5 LPA
- Experienced: ₹5–7 LPA
- Senior-level: ₹8–12 LPA (for those managing complex policies or higher-risk cases)
6. Insurance Claims Officer
- Role: Claims Officers handle the processing and settlement of life insurance claims. They verify the validity of claims, assist beneficiaries, and ensure that the settlement process is completed smoothly and efficiently.
- Workplaces: Life insurance companies, third-party administrators, claims management firms.
- Salary:
- Entry-level: ₹2.5–4 LPA
- Experienced: ₹4–6 LPA
- Senior-level: ₹6–10 LPA
7. Branch Manager (Life Insurance)
- Role: Branch Managers oversee the operations of a branch of a life insurance company. They manage the sales team, set targets, ensure compliance with company policies, and develop strategies to increase sales and market share.
- Workplaces: Life insurance companies, corporate agencies, multi-location firms.
- Salary:
- Entry-level: ₹5–7 LPA
- Experienced: ₹8–12 LPA
- Senior-level: ₹15–20 LPA (for managing large branches with multiple teams)
8. Insurance Trainer
- Role: Insurance Trainers develop training programs, conduct workshops, and provide ongoing training for new recruits in life insurance companies. They ensure that the sales and customer service teams are well-equipped to meet targets and serve clients effectively.
- Workplaces: Life insurance companies, training institutes, consulting firms.
- Salary:
- Entry-level: ₹3.5–5 LPA
- Experienced: ₹5–7 LPA
- Senior-level: ₹8–12 LPA (for those managing regional or national training programs)
9. Sales Manager (Life Insurance)
- Role: Sales Managers in life insurance companies are responsible for managing the sales team, setting targets, tracking performance, and developing sales strategies. They also play a role in motivating staff and ensuring that sales targets are met.
- Workplaces: Life insurance companies, corporate agencies, financial advisory firms.
- Salary:
- Entry-level: ₹6–8 LPA
- Experienced: ₹10–15 LPA
- Senior-level: ₹15–25 LPA (handling larger sales teams and more substantial targets)
10. Independent Life Insurance Consultant
- Role: Independent Life Insurance Consultants work as self-employed professionals. They offer clients personalized insurance advice and recommend life insurance policies from various providers, helping clients select the best option for their needs.
- Workplaces: Self-employed, independent consultancy.
- Salary:
- Entry-level: ₹3–5 LPA (commission-based earnings)
- Experienced: ₹6–8 LPA
- Senior-level: ₹15–25 LPA (for consultants with a strong network of clients and high-value policies)
Factors Affecting Salary
- Experience: More years of experience lead to higher salaries and opportunities for advancement, especially in client management, senior advisory roles, and branch management.
- Location: Metro cities such as Delhi, Mumbai, Bengaluru, Chennai, and Kolkata tend to offer higher salaries due to the larger customer base and more sales opportunities.
- Performance-Based Pay: Many positions, particularly in sales, are performance-based, and individuals can earn significant income through commissions and bonuses, especially in high-performance roles like insurance advisors and sales managers.
- Employer: Salaries also vary depending on the insurance company, with larger, well-established firms offering more competitive pay packages and better career growth opportunities.
Conclusion
Graduates of the Certificate in Life Insurance Advisor program can pursue various career paths in the life insurance industry, from direct sales and client relationship management to underwriting, claims, and financial advising. The salary range depends on factors like experience, location, job role, and performance, but the industry offers excellent opportunities for growth, with potential earnings increasing as professionals gain experience and take on more responsibilities. Life insurance sales, particularly, can be lucrative due to commission-based pay and the growing demand for life insurance in India.