If you want to work as an insurance agent/advisor in India, passing the IRDAI exam is a mandatory requirement, as per the regulations of IRDAI. This exam is officially known as IC 38 exam.
If you are planning to appear for IRDAI examination, we recommend that you check out this blog post. Here, the author covers everything you need to know about the IRDAI IC 38 exam, including its latest eligibility criteria, fee and syllabus.
The IRDAI IC-38 exam is a compulsory exam for those who want to become insurance agents or advisors in India. It is also required for principal officers and insurance sales persons of insurance marketing firms. The Insurance Regulatory and Development Authority of India, the insurance industry’s regulator, sets the rules for IC 38 examination. However, the Insurance Institute of India, the apex national body for insurance education and training, is responsible for conducting this examination.
To pass the IC 38 exam, candidates need to score at least 35%. This means they must score a minimum of 18 marks out of a total of 50 marks. After passing the exam, they can move ahead to apply for and obtain an IRDAI licence so they can finally start working as insurance agents or advisors in India.
Broadly speaking, the IC-38 examination is suitable for anyone who wants to work in the insurance sector. Below are some of the individuals who can appear for the exam:
Individuals desirous of building a career in insurance.
Women seeking flexible career options.
Students who want to earn extra income (through a part-time job) while continuing their studies.
Retired individuals seeking a supplementary source of income after retirement.
Financial planners, advisors and consultants who want to begin selling insurance products.
Mutual fund agents want to expand their list of services by offering insurance policies.
Business owners as well as aspiring entrepreneurs with a keen interest in financial services sector.
The eligibility criteria for the IC-38 exam are provided below. Candidates should ensure that they meet the mentioned requirements prior to registering for insurance agent examination.
The candidate must be at least 18 years of age.
They must have passed Class 10 in rural areas or Class 12 in urban areas.
They must be an Indian citizen or permitted to work in India.
The candidate must complete mandatory training prescribed by IRDAI from an authorized training institute before they appear for IC 38 examination.
It is important to note that training duration varies depending on applicant category. The table below shows the training requirements for different categories of candidates.
| Applicant Category | Mandatory Training Requirement (in Hours) |
|---|---|
| Insurance Agent / Insurance Advisor | 15–50 hours of pre-licensing training (depending on the insurance category: Life, General, or Composite) |
| Insurance Sales Person (ISP) under an Insurance Marketing Firm (IMF) | 50 hours of training |
| Principal Officer of an Insurance Marketing Firm (IMF) | 50 hours of training |
| Qualified Principal Officer of an Insurance Marketing Firm (IMF) (with specified professional qualifications) | 25 hours of training |
Disclaimer: IRDAI may revise the training requirements from time to time. Candidates are, therefore, advised to check the latest official guidelines before applying for the examination.
The IC 38 exam fee structure is presented in tabular form below:
| IRDAI Exam Fee Type | Details |
|---|---|
| Registration Fee | One-time fee of INR 700 |
| Single Category Exam Fee | INR 500 to INR 600 for Life, General, or Health Insurance Exam |
| Composite Exam Fee | INR 1,000 to INR 1,200 for Life, General, and Health Insurance Exam |
| Online Training Fee | INR 150 to INR 800 (based on the training provider) |
| Re-exam Fee | Usually the same as the original IRDAI examination fee |
The IC 38 exam duration, total questions, total marks and passing marks are stated in tabular form below:
| IC-38 Exam Particulars | Details |
|---|---|
| Exam Duration | 60 Minutes |
| Total Questions | 50 Multiple-Choice Questions |
| Total Marks | 50 Marks |
| Passing Marks | 18 Marks (35%) |
The IRDAI exam syllabus for IC 38 exam is divided into different sections based on the type of insurance the candidates want to work in. These sections include the Common Section, Life Insurance Section, General Insurance Section and Health Insurance Section. The Common Section, as the name suggests, is common/same for all candidates.
| S.No. | Common Section Topics |
|---|---|
| 1 | Introduction to Insurance |
| 2 | Core Elements of Insurance |
| 3 | Principles of Insurance |
| 4 | Features of Insurance Contracts |
| 5 | Underwriting and Rating |
| 6 | Claims Processing |
| 7 | Documentation |
| 8 | Customer Services |
| 9 | Grievance Redressal Mechanism |
| 10 | Regulatory Aspects for Insurance Agents |
| S. No. | Life Insurance Section Topics |
|---|---|
| 1 | What Life Insurance Involves |
| 2 | Financial Planning |
| 3 | Life Insurance Products: Traditional |
| 4 | Life Insurance Products: Non-Traditional |
| 5 | Applications of Life Insurance |
| 6 | Pricing and Valuation in Life Insurance |
| 7 | Life Insurance Documentation |
| 8 | Life Insurance Underwriting |
| 9 | Life Insurance Claims |
| S.No. | General Insurance Section Topics |
|---|---|
| 1 | General Insurance Documentation |
| 2 | Underwriting and Rate Making |
| 3 | Personal and Retail Insurance |
| 4 | Commercial Insurance |
| 5 | General Insurance Claims |
| S.No. | Health Insurance Section Topics |
|---|---|
| 1 | Introduction to Health Insurance |
| 2 | Health Insurance Documentation |
| 3 | Health Insurance Products |
| 4 | Health Insurance Underwriting |
| 5 | Health Insurance Claims |
The study material for the above-mentioned IRDAI syllabus can be accessed via the official website of Insurance Institute of India (III). The IC 38 study material is available in various languages, including English, Hindi, Marathi, Gujarati, Tamil, Bengali, Kannada, Malayalam, Telugu, Punjabi, Assamese, Odia and Urdu.
Also Read: How to Use IRDAI Agent Locator?
Passing the IRDAI IC-38 exam is mandatory for becoming an insurance agent, advisor, principal officer/insurance sales person of IMF in India. Before applying for this exam, candidates should make themselves aware of the exam's eligibility criteria, training requirements, fees and syllabus among other necessary details. A candidate who is well prepared and has a clear understanding of IRDA exam has better chances of passing it. We hope this guide has helped you understand important aspects of this examination. We wish all candidates the very best of luck for their exam!
For assistance in securing IRDAI registration or in fulfilling post-registration compliance requirements, you can get in touch with Registrationwala’s IRDAI experts.
Q1. What is IRDAI exam age limit?
A. The candidate must be at least 18 years of age. There is no upper age limit.
Q2. What is IRDAI exam?
A. It is basically a mandatory pre-licensing exam that must be passed by individuals who want to become insurance agents, advisors, principal officers/insurance sales persons in insurance marketing firms or point of sales persons.
Q3. What is IRDA exam time duration?
A. IRDA IC 38 exam duration is 60 minutes in total.
Q4. What is IRDA exam date?
A. There is no fixed date for the IRDA IC 38 exam. It is conducted several times in a year, i.e., usually in the months of March, June, September and December.
Hey there, I'm Dushyant Sharma. With the extensive knowledge I've gained in past 8 years, I have been creating content on various subjects such as banking, insurance, telecom, and all the important registration and licensing processes for various companies. I'm here to help everyone with my expertise in these areas through my articles.
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