Life Insurance
Life Insurance
Life insurance is a contract that pledges payment of an amount to the person assured (or his nominee) on the happening of the event insured against.
Life insurance or life assurance is a contract between the insurer and the policy owner (policyholder) whereby a benefit is paid to the designated Beneficiary (or Beneficiaries) if an insured event occurs which is covered by the policy. In return, the policy owner (or policy payer) agrees to pay a stipulated amount called a premium at regular intervals or in lump sums to be a life policy the insured event must be based upon life (or lives) of the people named in the policy.
Ref: Insurance Broking ICAI
Introduction
An agent is a primary source for procurement of insurance business and as such his role is the corner stone for building a solid edifice of any life insurance organization. To effect a good quality of life insurance sale, an agent must be equipped with technical aspects of insurance knowledge, he must possess analytical ability to analyze human needs, he must be abreast with up to date knowledge of merits or demerits of other instruments of investment available in the financial market, he must be endowed with a burning desire of social service and over and above all this, he must possess and develop an undeterred determination to succeed as a Life Insurance Salesman.
In short he must be an agent with professional approach in life insurance salesmanship. Such an agency force is expected to be helpful not only in proper field underwriting but also after sales, servicing, concomitant and essential elements for higher retention of business.
Ref: The Journal IRDA Jan-Jun 2004
Attributes of Insurance Professionals
We can identify certain positive manifestation of a professional agent
* He will possess excellent and proven salesmanship skill. He will have knowledge of human nature and psychology. He will have a sound knowledge of the product, his institution, his
Life insurance is a contract that pledges payment of an amount to the person assured (or his nominee) on the happening of the event insured against.
Life insurance or life assurance is a contract between the insurer and the policy owner (policyholder) whereby a benefit is paid to the designated Beneficiary (or Beneficiaries) if an insured event occurs which is covered by the policy. In return, the policy owner (or policy payer) agrees to pay a stipulated amount called a premium at regular intervals or in lump sums to be a life policy the insured event must be based upon life (or lives) of the people named in the policy.
Ref: Insurance Broking ICAI
Introduction
An agent is a primary source for procurement of insurance business and as such his role is the corner stone for building a solid edifice of any life insurance organization. To effect a good quality of life insurance sale, an agent must be equipped with technical aspects of insurance knowledge, he must possess analytical ability to analyze human needs, he must be abreast with up to date knowledge of merits or demerits of other instruments of investment available in the financial market, he must be endowed with a burning desire of social service and over and above all this, he must possess and develop an undeterred determination to succeed as a Life Insurance Salesman.
In short he must be an agent with professional approach in life insurance salesmanship. Such an agency force is expected to be helpful not only in proper field underwriting but also after sales, servicing, concomitant and essential elements for higher retention of business.
Ref: The Journal IRDA Jan-Jun 2004
Attributes of Insurance Professionals
We can identify certain positive manifestation of a professional agent
* He will possess excellent and proven salesmanship skill. He will have knowledge of human nature and psychology. He will have a sound knowledge of the product, his institution, his