Question

Raju is a certified license holder under what circumstances he needs to hold his certified license with him that is issued by IrDA


when he sells term insurance

when he represents himself as another insurer

when he sells pension policies

under all circumstances

Answer 1

Answer:

Raju needs to hold his certified license with him that is issued by IRDA under all the circumstance.

An individual agent is a person that passed through the necessary training, and passed the required examination and has been licensed by the IRDA to sell insurance policies to the entire public and can also offer after sales services.

Some of the after sales services include assisting insurance holders at the time of claim.

such agent insurance licence can be for life insurance, general insurance or both insurance.

Answer 2

Raju is a certified license holder. He needs to hold his certified license with him that is issued by IRDA under all circumstances.

• IRDA stands for Insurance Regulatory and Development Authority.

• It regulates and promotes the insurance and re-insurance industries all over India.

• IRDA Act was passed on 7 January 1994.

• It's headquarter got shifted to Hyderabad, Telangana in 2001.

• It constitutes 10 bodies i.e. 1 chairman, 5 whole-time members, and 4 part-time members.

• The license holder must carry its license at the time when he is selling term insurance, when he represents himself as another insurer and when he sells pension policies.