Insurance Agent


A professional who sells an insurance company’s products to consumers to earn a commission is called an insurance agent.


An insurance agent is a representative who sells the policy on behalf of an insurance company. The agent helps consumers select the right insurance based on their needs, but represents an insurance company. Insurance agents will sell and negotiate different insurance policies. In common, there are two types of agents, one is an independent agent and the second is an exclusive agent.

Independent agents represent many insurance companies and receive commission for their service. On the contrary, the exclusive agents are one who are exclusively deployed for the sales of insurance policies of one company. Their commission can be in the form of salary.

Insurance agents need to be above 18 years of age and should have completed education up to at least class 10. An insurance agent has to undertake the mandatory training of 15 hours provided by IRDA.


Ramit was an insurance advisor from XYZ insurance company limited. The insurance company assured Ramit to pay him 10% commission on the premium paid for the term policies. In a month, the net premium written under term life insurance was Rs.50 lakhs. Out of this amount, the insurer paid Rs.5 lakhs as commission to the insurance advisor.