Become a Life Advisor

A Life Advisor earns commission from the insurance business and handsome incentives, based on their sales performance.

In comparison to most finance jobs, being a Life Advisor is rather simple. There are no educational prerequisites beyond a high school passing certificate. All you need is an insurance broker license and your journey as a Life Advisor is set.

The main difference between the two types of Life Advisor is that captive advisors work for a single insurance company, whereas independent advisors work for a variety of insurers and can provide varying quotes and financial solutions to customers.

No, you do not need to have experience in sales to become a Life Advisor, if you meet the eligibility criteria. However, if you do have the experience, it can be beneficial for you in terms of understanding the job role.

Some of the skills that Life Advisors need to possess are problem-solving, customer service, communication, and negotiation.

Any individual who wants to ensure a regular monthly income can become a Life Advisor with Max Life Insurance. From businessmen to housewives and teachers to financial product distributors or even retired individuals, anyone can achieve their personal and professional goals through this career.

People from the following backgrounds have done well as Life Advisors:

1) Teacher: The skills and qualities you possess and acquire as a teacher  greatly help you to become a good life advisor. For example, good communication skills, patience, understanding, and perseverance will only add value to your business.

2) Retired: In the golden years of your life, you have an opportunity to make a difference. The mere experience of having seen it all qualifies you to be a better Life Advisor with Max Life Insurance. Explore the opportunities and make the most of your life in your golden years.

3) Self Employed: If you deal with customers, you have an opportunity to double your income by becoming a Life Advisor. By helping your customers with best-suited insurance products, you get to add to your income, besides strengthening your relationship with them and achieving overall success as a Life Advisor.

Below is the eligibility criterion to become a Life Advisor:

• Minimum Age: 18 years
• Education: 12th Pass

You can choose 3 options to become a Life Advisor with Max Life Insurance:

1) Walk into the nearest Max Life Insurance office and talk to a Agency Development Manager

2) Apply online and fill in your details

3) Mail your details to becomeanagentadvisor@maxlifeinsurance.com and our recruitment team will connect with you shortly

Max Life Insurance has a robust recruitment program. It involves a step-by-step process starting from screening, followed by extensive in-house training and IRDAI exam. Once you clear the exam, you officially become a Life Advisor with Max Life Insurance! 

Below are the details of the recruitment process:

1. Screening interview

Visit your nearest Max Life Insurance branch office to get in touch with  the officials

2. Career seminar

Understand the roles, responsibilities, and benefits of being a Life Advisor.

3. Project evaluation

Get to know about our sales process, typical targets, and our expectations from you.

4. Career interview

Get selected for a Personal interview to become a Life Advisor with Max Life Insurance.

As a career, becoming a Life Advisor with Max Life Insurance is a productive and stress-free job opportunity. On choosing to become a Life Advisor in India:

You can define your working hours and even work from home, without having to complete the regulation 9 to 5 work hours. During these testing times, you can safely work from the comfort of your home to avail the opportunity to earn an income by becoming a Life Advisor.

It’s always good to have an additional source of income to support your loved ones. Thus, college graduates, retired individuals, stay-at-home mothers and individuals looking to amplify their earnings can become Life Advisors.

As a Life Advisor, you will act as the final link between the policy buyer and the insurance company. Since you will be representing the insurer across different platforms, you become eligible to avail of many benefits – monetary, personal, and social, such as:

1) Start Earning at 18 Years of Age  

The minimum age requirement to become a Life Advisor is 18 years – right after you complete your class 12th. By starting your career as a Life Advisor, thus, you have the ease of entry and can leverage this opportunity to embark on a fulfilling journey, full of thrills and earning professional perks.

2) You Get to be Your Own Boss

As a Life Advisor, you get to put into use your entrepreneurial skills and passion for building your own business. When you decide to work as a Life Advisor with Max Life Insurance, you have the flexibility to work as per your schedule — you get to be your own boss. You can develop your own system for attracting, meeting, and developing clients. As a Life Advisor, you also get to invest your time and resources to maximise returns from the entire insurance selling experience.

3) Build a Stable Income.

The insurance industry offers a huge untapped earning potential, especially when you join as a Life Advisor. As a Life Advisor, you can ensure that your income grows significantly by converting leads in the under-served insurance markets. You can build an extended stream of cash flows with minimal service efforts – you earn from both policy sales and renewals.

4) Flexible Work Timings

Most corporate setups require their workforce to be at their desks and complete a fixed number of hours per week. As a Life Advisor, however, you do not have any such timing constraints. Instead you are free to choose your work timings. You can work as per your convenience and even choose to establish your own office either at your home or someplace else.

The career of a Life Advisor in India is ideal for homemakers, retirees, teachers and anyone who wishes to become financially independent and contribute to their income.

5) Make a Difference in Other's Lives

Bring a positive difference in the lives of people by securing their financial future, as you also earn for yourself, and become financially stable.

Categorically speaking, there are many types of Life Advisors, including the following:

a. Internal Sales Advisor

As an internal sales advisor (also known as an in-house advisor), you get to work as an employee for the insurance carrier.

b. Captive Sales Advisor

As a captive sales advisor, you get to for one organisation or company. 

c. Independent Insurance advisor

Being an independent Life Advisor, you are regarded as a general contractor, who has individual agreements with insurance companies to promote their products. 

As a Life Advisor in India, you get to assist in the advertising and sale of different insurance products and services to your customers. Thus, as a Life Advisor with Max Insurance, you must -

1) Have an in-depth understanding and customary awareness of the various markets

2) Provide sound and dependable financial consulting services and customer support to your clients

3) Be adept in Business Development tactics to augment your skills as a Life Advisor

4) Provide your inputs to develop marketing strategies and illustrations for brand promotions

5) Indulge in public-relations structure-activities and understand your customers' choices and thought-process

As per Regulation 4 of the IRDA (Licensing of Insurance Agents)/ Regulations, 2000, the minimum age to become a Life Advisor is 18 years while the minimum education is an Intermediate (10+2) pass. Thus, you can become a Life Advisor after passing the 12th standard or an equivalent examination conducted by any state/ centrally recognised Board/ Institution.

Furthermore, according to Regulation 5 of the IRDA (Licensing of Insurance Advisor)/ Regulations, 2000), you can obtain or renew your licence as a Life Advisor after:

1) Completing 50 hours of training from an approved institution (for first-time applicants)

2) Completing 25 hours of training if you are seeking renewal of your Life Advisor license

3) Completing 75 hours of training If you wish to become a composite (i.e. Life/general) insurance advisor

As a retired person, while you may have earned a decent salary in your working years, the question of maintaining a source of income post-retirement becomes important to address. If you don’t have any retirement savings or are unable to provide for yourself financially post-retirement, depending upon others is the only possible option.

However, you can change that by becoming a Life Advisor, you can make sure that you earn a steady income without the hassles of working in an office environment or having fixed work timings.

As a Life Advisor with Max Life Insurance, you can make a positive difference in the lives of others, helping them financially secure the future of their loved ones against the uncertainties of life. While doing so, you not only spend your retirement being productive, but have complete control over your work and be financially independent.

As a Life Advisor, you can positively impact other people's lives by helping them to build assets, assist in securing their children’s future, and plan for their retirement.

The insurance industry offers you an opportunity of a lifetime to make a positive social difference and enable people to secure their future financially. Thus, when you decide to become a Life Advisor, you empower yourself to change lives, and this feeling itself helps you keep up your motivation and feelings of satisfaction.

In a nutshell, by becoming a Life Advisor, you embark on a career where you will be your boss, define your income yourself, and help other people build a financially stable future for themselves and their loved ones.

You get a fair chance to earn more based on your performance. In today's world, having a work-life balance goes a long way in determining our happiness. However, working in a corporate environment can make it difficult to juggle between home and work. Subsequently, many people prefer being self-employed rather than working fixed hours for others. Being a Life Advisor in India gives you one such career opportunity to have complete autonomy over choosing your work hours and pay.

Furthermore, you can work at your own pace in a career that allows you to travel to different places and meet different people. As a Life Advisor, you can maximise your income without compromising on your freedom or your time. The more the output, the more the earning is – it is that simple!

The licence for becoming a Life Advisor in India can be for general insurance, life insurance, or both. Furthermore, being a life advisor in India, you can represent any life insurance company, non-life insurance (or general) company, health insurance company, Export Credit Guarantee Corporation of India (to sell credit insurance) and even Agriculture Insurance Company of India (to sell crop insurance). 

Being an IRDAI-licenced Life Advisor, you can also represent other financial sector entities such as the National Small Savings Organisation and mutual funds. Your Life Advisor licence stays valid for a period of up to three years.

A Life Advisor is essentially a point of contact between an insurance company and their customers. In other words, a Life Advisor helps individuals with finding insurance products that align with their needs and requirements. As a Life Advisor, you are also responsible for assisting policyholders with the required documentation and helping them throughout their insurance journey, including policy tenure.

If you plan to become a Life Advisor, then you are required to undergo the requisite training, pass an examination and earn your duly-accredited licence by IRDAI (Insurance Regulatory and Development Authority of India). After you get your Life Advisor licence, you can sell insurance policies to the general public and provide after-sales services and assistance during claims settlement.

In India, starting a career as a Life Advisor is an exciting and appealing opportunity – for both new and established professionals. Even housewives, college graduates and retired individuals can earn a steady source of income while making a name for themselves as a 'people's person.'

The number of non-working individuals in our country is quite high. According to Statista the percentage of working women in India dropped from around 36 per cent in 2021 to a little over 33 per cent in 2022. While for men, it was at 67 per cent in 2022, which is an increase from the previous year's data.

Additionally, studies have found that the lack of opportunities has resulted in 45% of women in India aged 15-29 not being engaged in any education, employment, or training, as opposed to 6.5% of men in the same age group. Reducing the 58 per cent employment gap between men and women is expected to expand India’s GDP by 2050.

The work profile of a Life Advisor allows stay-at-home mothers, and other people to become financially independent, and contribute towards the benefit of the nation's economy – all while having the flexibility of choosing their work hours and targets.