LIC is the most trusted and popular insurance company in India and stands for Life Insurance Corporation of India. LIC provides a plan for everyone ranging from investment plans to protection plans. To become an agent for LIC, you need to appear for a recruitment exam which is conducted on a yearly basis. The minimum qualification required to appear for a LIC agent examination is the completion of 12th standard, and the minimum age limit is set at 18 years. The LIC agent exam is referred to as IC38 exam and is conducted by the IRDA (Insurance Regulatory and Development Authority of India).
Pattern of LIC Agent Exam
The examination is for a duration of one hour and consists of 50 multiple-choice questions. Before appearing for the IC38 examination, a candidate has to have at least 50 hours of training provided by IRDA. The training time for freshers is 75 hours. After the completion of the training, you are basically a Life, Health, or General insurance agent without a certification, one which you receive after successful completion of the examination.
There is no negative marking for incorrect answers. To qualify in the exam, an individual will have to score a minimum of 35% marks in all sections. The syllabus of the question paper comprises of questions related to insurance, loans, regulations and general insurance questions. However, there might be few questions related to numerical problems like percentage, loan calculation and discount.
Information on the prescribed syllabus is available for the examination. You will have to know and understand the concepts of insurance, how insurance works along with other details of technicality of insurance plans to clear the exam.
The LIC exam pattern is divided into four sections:
- Questions related to common general knowledge
- Questions regarding Health insurance
- Questions on Life insurance
- And lastly questions on General insurance
The above sections will have objective type questions. The examination also consists of short answer type questions such as fill in the blanks, Yes or No, Right or Wrong, Column matching, Multiple choice answers, etc. all related to the Insurance sector.
The syllabus of the LIC agent examination is shorter than the LIC assistant examination and is a lot easier also. You can appear for the examination from your smartphone or a laptop. The examination is conducted both online and offline. If you choose offline mode of examination, you have to be present at specified examination centres.
You are eligible to directly become an insurance agent and start selling insurance policies after you successfully complete the training and the exam.
Get details on LIC agent exam pattern today.
There is an exam fee of Rs200 for each entry form and Rs400 for Life and General insurance along with two passport size photographs. To register for the examination, a candidate can visit the official website of LIC. All the details regarding the examination are given on the website. The exam is basically conducted to calculate the general information an individual has on life insurance policies and can the individual help bring more revenue to the insurance sector. It is mandatory to pass the Irda LIC agent exam as it ensures that the individual can be a prospective insurance agent and can build a career out of it.
The LIC agent examination ensures a permanent job under the Central government of India and therefore has a cut-throat competition. Proper planning and preparations are required to crack the examination successfully. Interested candidates can visit the official recruitment website and start filling the application form.