IC38 exam is conducted for the Life Insurance agency exam, any person looking for LIC or any other Insurance agency need to clear this exam. IC38 Exam is totally a combination of Health, Life and General insurance. In this subject, people get to know about the basics of insurance. One this course is completed you will be able to understand customer need and ethics of this industry.
Once you pass this exam you will be entitled as authorized insurance advisor for any Insurance company. An agent has some responsibilities also to sell the correct policy to the client, previously it was noticed that agents were selling the product without enough knowledge of the product they are selling.
For Insurance industry base it’s important to sell policies as per client’s need not for commission only. Its Agents duty to let their customer know about policy be it Basic premium, Maturity, claim and surrender also to make sure nothing would be new in future for agent’s client.
It’s observed that clients are not aware of policies surrender value since many of client feels like looted after they see surrender value at the time of surrendering the policy and total blame goes to LIC and agent. So it is important to let your client know about the surrender of policy also to avoid the future hassle.
Now this subject is a little tough for people who do not prepare well before the exam since IRDA is asking conceptual questions to make sure is the candidate is well groomed with this subject.<p>
IC38 Exam is conducted for the betterment of Insurance industry and agent as well.