Life Insurance Agent Apprenticeship Course Syllabus

Course Title

Life Insurance Agent Apprenticeship Course

Course Code

LIA101

Description

This course, under the Apprenticeship Training Scheme (ATS), provides comprehensive training for life insurance agents, focusing on selling life insurance policies, managing client relationships, and ensuring compliance with IRDAI regulations. Apprentices will gain hands-on experience in prospecting clients, explaining policy benefits, and handling policy documentation, preparing them for roles in 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

• Identify and prospect potential clients to sell life insurance policies effectively.
• Explain policy features, benefits, and premiums to clients with clarity and professionalism.
• Manage policy documentation, including applications and KYC compliance.
• Ensure adherence to IRDAI regulations and ethical sales practices.

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 agents. Below is the detailed breakdown:

Week 1: Introduction to Life Insurance

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

Week 2: Life Insurance Products

Understanding types of life insurance policies (e.g., term, whole life, endowment, ULIP) and their benefits.

Week 3: Sales and Prospecting Techniques

Learning prospecting methods, lead generation, and effective sales pitches for insurance products.

Week 4: Client Communication and Needs Analysis

Developing communication skills to assess client needs and explain policy features and premiums.

Week 5: Policy Documentation and KYC

Processing policy applications, completing KYC requirements, and managing client documentation.

Week 6: Regulatory Compliance and Ethics

Ensuring compliance with IRDAI guidelines, anti-money laundering norms, and ethical sales practices.

Week 7: Customer Relationship Management

Building long-term client relationships, handling renewals, and addressing client queries.

Week 8: Final Project and Assessment

Completion of a comprehensive life insurance sales 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. Sanjay Verma

Language

Available in: English

Status

Published

Additional Notes

Apprentices must be at least 14 years old and meet the minimum educational qualification (typically 10th grade passed or equivalent, 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 sales skills and regulatory compliance, addressing the demand for skilled life insurance agents in India’s growing insurance sector, driven by increasing financial awareness and IRDAI initiatives.