A life insurance advisor job is not an unknown thing in India. According to the data of IRDAI, almost 2.2 million people are working as Life insurance advisors in India. There are more than 24 life insurance companies that are providing life insurance products in India.

Every top bank in India is offering life insurance policies to its clients. The Government of India owns the Life Insurance Corporation Of India, commonly known as LIC, and it is India’s largest life insurance company.

Life Insurance Advisor

Unlike other professionals, a Life Insurance Advisor or life insurance consultant is a licensed professional who provides specialized advice and guidance for investment in various life insurance schemes.

They act like intermediaries who connect the gap between the policyholders and the insurance companies. They represent different life insurance products to the clients of their associated insurance company.

As such, insurance advisors sell insurance policies, and, in return, they earn a commission on each policy they sell. Life insurance advisors are alternatively also known as life insurance consultants. Some insurance company may called them in a different name like Life Planer etc. 

Life Insurance Advisor Job Description

A Life Insurance Advisor is someone who advises you of necessary insurance coverage required to cover your liabilities or any financial loss in the event of uncertainties or death.

The primary purpose of a life insurance advisor is to identify your insurance needs and suggest ways to cover them based on the requirements. Then explain to you all the options you have available regarding your potential purchase of an insurance product in the simplest of terms to understand entirely what options best fit you in what you are looking for in protection with the budget you have.

This job includes communicating with clients to know more about their current financial situation, researching available products that match their needs, processing paperwork, and ensuring that existing customer information is updated.

The Life Insurance Advisor job is well suited to people who have a background in sales, analytical, strong customer service skills, and basic computer skills. They should have excellent verbal communication skills with solid selling techniques and experience that they will be able to quickly assess a customer’s needs to provide them with the right product or service.

Life Insurance advisors generally work full-time in an office-based environment. However, they may work remotely depending on the company they represent.

Life Insurance Advisor Role

As I mentioned, the Life Insurance Adviser job is like a bridge between the insurance company and the insurance holder. So, they have different roles and responsibilities toward each other. In such a scenario, we can divide their role into two categories.

1) Role toward clients:- As life insurance is a long-term product, the role of a life insurance advisor is significant. The adviser must be careful and trustworthy in his work so that the client can depend on his expertise and advice. These are the following roles they need to play toward the clients –

• The first thing a life insurance advisor must do before selling an insurance policy is to find out all details of their clients. It is essential to know the personal and financial information of the client to determine the client’s requirements. It will only help the advisor to pick up the right insurance product for them.
• All insurance policies are goal-oriented. So, the next step will be to find out the financial goals of the clients have. Unless an insurance adviser finds out what his clients exactly want, he can not sell the right insurance policy.
• The role of an insurance adviser does not end just by selling an insurance policy. It would be helpful if an insurance adviser gets in touch with his clients even after sold the policy. A continuous relationship with his clients would help his business expanding.

2) Role toward companies:- Here are the following roles of a life insurance advisor for the insurance company that they represent –

• The first role of a Life Insurance Advisor toward the insurance company is how to increase the company’s business. It is only possible by selling the maximum number of insurance policies to their clients.
• Another vital role of a life insurance adviser is to promote the insurance company they are associated with. Customers buy insurance policies only if they trust the insurance company. So, every adviser must have a positive brand image toward their clients to trust the adviser and the insurance company.
• The final role of an insurance adviser toward their clients is at the of claims. As the insurance advisers know the claim process very well, they must help their clients during their claims. Support at the time would increase the clients’ trust and will help to generate more business.

How to become a successful Insurance Advisor in India?

Becoming a successful insurance advisor in India is not a very difficult task. Millions of insurance advisers are already working successfully in this field. But there are a few obstacles you may face at the outset.

Like, sometimes your age can be against your journey to be a successful insurance adviser. If you are too young, your clients may not take you seriously. So, it would not be a good choice if you are young. However, there are so many potentials you can follow to become a successful insurance adviser in India.

Focus on client needs:- As a good life insurance advisor, you have to earn your clients’ trust. So, always listening every word of your clients very carefully to earn their trust. It may not be so easy, but it is essential for this job.

Set a goal to fulfill your client’s needs rather than making a commission out of it. To sustain long in this profession, you must focus on your clients’ requirements first.

Be honest and persistent:- Nobody trust a dishonest person. So, your character will play a key role in your success. Your profession is very much dependent on your personal life, and it is up to you to keep a clean image for your clients.

Persistence is the essential quality to become a successful insurance advisor. It would be best if you learned how to handle rejection daily with a smile.

Chose a reputed brand:- Generally, your success will depend upon what insurance company you have chosen to work with. If your selected company is reputed, you just need to explain a little to sell the product unless you have to explain a lot before selling the products. You need double efforts for exact results.

Extensive product knowledge: – Having excellent knowledge of insurance-related products will help you select the best product for your clients. Understanding each insurance product’s tax and legal aspects that fit into their overall financial situation is necessary.

Update your skills:- Today’s world is constantly changing, and you may not survive a long time without updating your skills. Always hungry for learning new skills.

For example, you may not like public speaking, but it is crucial to have an insurance advisor. To improve this skill, you may consider taking a class in public speaking or try to put yourself in a situation where you can practice.

We are Business Associate of a most popular Life Insurance Company in India. Contact us for FREE advice for Life Insurance Job in India and start Life Insurance Advisor job. If you would like to join with us then you are most welcome.

-Ramesh Naskar,

Chief Consultant, Naskar Financial Services.

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