IC 38 EXAM FOR LIFE INSURANCE

IC 38 Exam for prospective Life Insurance agents or prospective LIC Agents is an examination conducted by the Insurance Institute of India (III). It is compulsory for people who want to become Life Insurance Adviser in any Insurance company in India. IC38 Subject contains all basic aspects of Life, Health, and General Insurance industry.

What is IC 38 exam?

IC 38 exam is an initial step to become LIC Agent or IRDAI approved Life Insurance Agent. IC 38 exam is conducted by Insurance Institute of India (III) on behalf of IRDAI (Insurance Regulatory and Development Authority of India) for prospective Life Insurance Agent candidates in India

This IC38 exam has to be compulsory given by any individual who is willing to work as a Life insurance agent for any Life insurance company in India like LIC, HDFC, ICICI, SBI, Birla Sun Life, Reliance Life Insurance, etc.

It is conducted through ONLINE mode only.

IC38 Exam Eligibility:

• The minimum educational qualification for Urban area is 12th Pass while the 10th pass is considered as the minimum qualification for rural areas.
• The minimum age limit to appear for the exam is 18 years.

IC38 Exam Application process:

• Candidate cannot directly appear for the IC38 exam yourself.
• You need to be sponsored by an insurance company first after which you have to undergo 25 hours of training as prescribed by IRDA through any online or offline means.
• There are various Online IC38 Training Institutes from where you can complete the prescribed 25 hours of training by logging into their IC 38 training app or website online. The offline training is conducted by the LIC in its Agents Training Centre’s across India.

 IC 38 Exam Syllabus for LIFE INSURANCE Agents:

SECTION I

• CHAPTER 1: INTRODUCTION TO INSURANCE
• CHAPTER 2: CUSTOMER SERVICE
• CHAPTER 3: GRIEVANCE REDRESSAL MECHANISM
• CHAPTER 4: REGULATORY ASPECTS OF INSURANCE AGENT
• CHAPTER 5: LEGAL PRINCIPLES OF AN INSURANCE CONTRACT

SECTION 2

• CHAPTER 6: WHAT LIFE INSURANCE INVOLVES
• CHAPTER 7: FINANCIAL PLANNING
• CHAPTER 8: LIFE INSURANCE PRODUCT I
• CHAPTER 9: LIFE INSURANCE PRODUCT II
• CHAPTER 10: APPLICATION OF LIFE INSURANCE
• CHAPTER 11: PRICING AND VALUATION OF LIFE INSURANCE
• CHAPTER 12: DOCUMENTATION –PROPOSAL STAGE
• CHAPTER 13: DOCUMENTATION –POLICY CONDITION – I
• CHAPTER 14: DOCUMENTATION –POLICY CONDITION –II
• CHAPTER 15: UNDERWRITING
• CHAPTER 16: PAYMENTS UNDER A LIFE INSURANCE POLICY

 SECTION 3

• CHAPTER 17: INTRODUCTION TO HEALTH INSURANCE
• CHAPTER 18: INSURANCE DOCUMENTATION
• CHAPTER 19: HEALTH INSURANCE PRODUCTS
• CHAPTER 20: HEALTH INSURANCE UNDERWRITING
• CHAPTER 21: HEALTH INSURANCE CLAIMS

IC38 Book and Study Material:

Physical study material or various books are available at Offline book stores and Online store at  IC 38 BOOKS ONLINE

IC 38 pdf ebook is available for download in English, Hindi, Marathi, Gujarati, Tamil, Bengali, Kannada, Malayalam, Telugu, Punjabi, Assamese, Oriya, Urdu, from the Insurance Institute of India website at https://www.insuranceinstituteofindia.com/web/guest/agents1

Simultaneously there are various IC 38 Exam app available on the Google Play store which provide question banks, practice tests, and IC 38 exam mock tests in English, Hindi, Marathi, Gujarati, Tamil, Bengali, Kannada, Malayalam, Telugu, Punjabi, Assamese, Oriya, Urdu.

IC 38 Exam Fees:

• An exam fee of Rs 500/- has to be paid online on the NSEIT website after which the booking of  Exam Slot can be done as per available date and time in the NSEIT Centres.

• Pay your Exam Fee and Book Slot at http://nseitexams.com/OnlinePayment/paymentRequest.jsp

IRDA IC38 exam hall ticket:

 The IC 38 exam admit card can be downloaded online on the Insurance Institute of India website at http://www.iiiexams.org/publicaccess/pubprinthallticket.aspx

IC38 exam pattern:  How to pass IC 38 exam?

• There will be 50 multiple choice questions to be answered
• 60 minutes or 1 hour time is allotted.
• One has to score a minimum of 35% or 18 marks to pass this exam.
• If you score 17 marks, 1 grace mark is added and the candidate is passed with grace marks.
• There is no negative marking system.

IC 38 Exam Result:

This exam is conducted online at various NSEIT centers all over India. The IRDA IC38 exam results are displayed instantly on the computer screen as soon as you answer and submit your test paper.  The IC 38 exam mark sheet or passing certificate can be downloaded at http://www.iiiexams.org/publicaccess/pubprinthallticket.aspx