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Qualification :
Regulation 4 of the Regulations requires that a person desiring to obtain or
renew a license to act as an insurance agent or a composite insurance agent
shall possess the minimum qualification of a pass in 12th standard or
equivalent examination conducted by any recognized Board/Institution where the
applicant resides in a place with a population of five thousand or more as per
the last census, and a pass in 10th standard or equivalent examination from a
recognized Board/Institution if the applicant resides in any other place.
According to regulation 5 of the regulations
the person desiring to obtain or renew a license to act as an agent is required
to (i) complete from an approved institution,at least,one hundred hours
practical training in life or general insurance business as the case may be
which may be spread over three to four weeks, where such person is seeking
licence for the first time to act as insurance agent and (ii) complete from an
approved institution at least one hundred fifty hours,practical training in
life and general insurance business,which may be spread over six to eight
weeks,where such applicant is seeking licence for the first time to act as a
composite insurance agent.
A person taking examination is required to satisfy the
requirements of regulations as explained above.
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