Life Insurance Apprentice Course Syllabus

Course Title

Life Insurance Apprentice Course

Course Code

LIA102

Description

This course, under the Apprenticeship Training Scheme (ATS), provides comprehensive training for life insurance apprentices, focusing on supporting policy administration, client servicing, and compliance with IRDAI regulations. Apprentices will gain hands-on experience in processing policy documents, assisting clients with inquiries, and supporting insurance operations, preparing them for roles in life insurance companies, broking firms, and financial services. The course aligns with the National Apprenticeship Promotion Scheme (NAPS) and complies with the Apprentices Act, 1961.

Objectives

• Assist in the administration of life insurance policies, including documentation and renewals.
• Provide professional customer service to address client inquiries and policy-related concerns.
• Support claims processing and ensure accurate documentation for efficient resolution.
• Ensure compliance with IRDAI regulations and organizational standards in insurance operations.

Schedule

The course spans 8 weeks, combining basic training and on-the-job practical training as per ATS guidelines. Each week focuses on specific skills essential for life insurance apprentices. Below is the detailed breakdown:

Week 1: Introduction to Life Insurance

Overview of life insurance industry, apprentice roles, workplace ethics, and regulatory bodies like IRDAI under ATS.

Week 2: Life Insurance Policy Basics

Understanding policy types (e.g., term, endowment, ULIP) and their features, benefits, and documentation requirements.

Week 3: Customer Service Skills

Developing communication skills to assist clients with policy inquiries, premium details, and coverage explanations.

Week 4: Policy Administration

Processing policy applications, managing KYC documents, and handling policy renewals and updates.

Week 5: Claims Support

Assisting in claims processing, collecting required documents, and coordinating with claims teams for resolution.

Week 6: Insurance Software and Tools

Using CRM and insurance software (e.g., PolicyBoss, InsureTech platforms) for policy management and client tracking.

Week 7: Regulatory Compliance and Reporting

Ensuring compliance with IRDAI guidelines, KYC norms, and preparing basic reports for insurance operations.

Week 8: Final Project and Assessment

Completion of a comprehensive policy administration and client servicing project and preparation for the All India Trade Test (AITT) under NCVT.

Assessment Methods

Apprentice performance is evaluated through a combination of practical, theoretical, and participatory components, preparing them for the National Apprenticeship Certificate (NAC):

• Weekly Assignments: 40%
• Midterm Project: 20%
• Final Project: 30%
• Participation and Attendance: 10%

Instructor

Prof. Ritu Sharma

Language

Available in: English

Status

Published

Additional Notes

Apprentices must be at least 14 years old and meet the minimum educational qualification (typically 12th grade passed or equivalent, preferably with a commerce or finance background, as per trade requirements). The course includes basic training (20-25% of the program) and on-the-job training, with a stipend provided as per NAPS guidelines (e.g., Rs. 7700 per month for one-year ITI trade passed apprentices, as per Gazette notification dated 25th September 2019). Successful completion leads to the National Apprenticeship Certificate (NAC) upon passing the All India Trade Test (AITT), recognized for employment in government and private sectors. The training emphasizes customer service and operational support, addressing the demand for skilled professionals in India’s growing life insurance sector, driven by increasing financial literacy and IRDAI initiatives.