Minimum qualification requirement of the insurance advisor It is surprising to note that the minimum educational qualification requirement by most insurance companies for a rural sector is 10th passed and urban sector is 12th Passed. Few days back I came across a Panwala and a car driver who were life insurance agents. I have nothing against Panwalas and Car drivers, but then these guys did not have a remote idea even about the tax slabs (forget about 80C or any other intricacies). I was just wondering, if this is the level of dilution of the insurance advisory, then naturally it would create a repulsion towards insurance. Imagine the reaction of a Doctor on getting advise from his driver regarding which insurance he should be buying. The argument we keep hearing for the same is “We are creating employment for these less educated people”. Ok, but at whose cost ? Is it ok to let the investors get cheated so that these people get employment? To control mis-selling, the minimum qualification level required to be an insurance advisor should be at least a graduate level. Till the time the regulator does not make such rules, its time we look at the qualification and knowledge of the advisor before we buy a policy.
Posted on: Mon, 26 Aug 2013 03:38:47 +0000
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