Insurance Sales: A Promising Career in India
Today’s youth need more than just a regular job. They need a stable career in a growing industry, which will help them achieve their bigger dreams and goals.
Today’s youth need more than just a regular job. They need a stable career in a growing industry, which will help them achieve their bigger dreams and goals. This is why,upGrad - a leading online education company, in partnership with HDFC Life - a top life insurance provider, has launched a job-guarantee program in one of the fastest growing industries in India, which is life insurance.
Indian Insurance Industry - An Overview
- The insurance industry in India is booming at a rate faster than ever and is expected to grow by 12-15% annually
- By 2020, the insurance industry is projected to be worth INR 28,000 Cr, creating approximately 40,000 jobs per year.
- Around 80% of Indians do not have a life insurance policy, thereby creating a great opportunity for sales
However, in order to succeed in an Insurance Sales profile, a holistic approach towards learning is a must. Hence, through upGrad’s Post Graduate Program in Life Insurance (PGPLI), the learning will not only be about insurance, but also about finance and management.
Insurance Sales Jobs v/s Government Jobs
Today, in order to secure a government job, you need to qualify competitive exams amidst several competitors. The striking difference between the number of vacancies and the number of applicants makes it difficult to secure a government job in the first attempt. Though government jobs offer stability, aspects like transfers and slow career growth can act as a downfall when compared to the private sector.
The Post Graduate Program in Life Insurance (PGPLI) provides a guaranteed job with HDFC Life to any graduate, upon successful completion of the program. The program offers online learning, on-the-job training and a paid internship. You may enrol for the program during or on completing your graduation. A post-graduate certification is also awarded upon program completion, along with the invaluable experience of a long internship with an aspirational brand like HDFC Life.
Growth Prospects in Insurance Sales
The skills you acquire in sales jobs are applicable across different verticals like marketing, operations, handling claims, actuaries, finance and accounting. In a few years, you can start to lead other insurance sales professionals in your insurance organization. Thus, there are opportunities for horizontal and vertical growth in the industry.
You also have the opportunity to work across different distribution channels like agency, bancassurance (sales through bank) and direct sales. Being a sales professional, you will be considered as a financial adviser for your customers. In the bancassurance model, you also get to leverage an existing customer base and the brand name of HDFC.
- The Post Graduate Program in Life Insurance is offered by upGrad in association with HDFC Life, one of India’s largest private insurers
- Program duration: 11 months
- Fee structure: This is a self-paid program where you can earn more than the course fee!
- You pay Rs 99,000 (inclusive of all taxes)
- You earn Rs. 1,10,000 lakhs*
For the first 2 months, you begin with online training on insurance, followed by on-the-job training for 2 months with a stipend of Rs 2500/-* per month. For the remaining 7 months, you get to pursue an internship with HDFC Life with a stipend of Rs 15,100/-*.
Thus, in 11 months, you go from being a fresh graduate to a full-time HDFC Life Employee, on successful program completion.
*All payments will be subject to prevailing tax laws, other statutory deductions and meeting desired performance criteria of the program.
Click here to apply: Application form
To Sum It Up
If you are a graduate or a final year undergraduate, you can enrol for upGrad’s Post Graduate Program in Life Insurance. Doing so will help you gain industry knowledge and will also ensure a fast-growing career in insurance sales with HDFC Life.
Disclaimer: The information provided in this Notification is solely by UpGrad. Jagranjosh.com bears no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the information. Individuals are therefore suggested to check the authenticity of the information.