Insurance Exams

Insurance exams in India are conducted for various posts in the insurance sector. The insurance sector in India has been one of the most significant employment sectors and has managed to gain the maximum benefit over the past two decades.

ELIGIBILITY

Graduation | B.Tech. | Post Graduates

SUBJECTS

Reasoning Ability & Computer Aptitude

General/ Financial Awareness

Quantitative Aptitude

English Language

Hindi Language

PAPER PATTERN

Prelims

Reasoning – 35

Numerical Ability – 35

English / Hindi Language – 30

Mains

Reasoning & Computer - 40

Financial Awareness - 40

Quants – 40

English  – 40

Hindi - 40

SALARY

35,000 to 50,000

Stay upto date with all updates for your exam

Join our whatsapp group and get constant updates on anything around this exam

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

All you need to know about

Insurance Exams

stay in the loop

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Overview

Insurance Industry in India

The Insurance sector in India consists of a total of 57 insurance companies. Out of which 24 companies are the life insurance providers and the remaining 33 are non-life insurers. Out of which there are seven public sector companies.

Government Ruled/Owned Insurance Companies

1. LIC,

2. New India Assurance,

3. National Insurance,

4. United insurance and

5. Oriental

These are the only government ruled entities that stand high both in the market share as well as their contribution to the Insurance sector in India.

There are two specialized insurers:

1. Agriculture Insurance Company Ltd catering to Crop Insurance and

2. Export Credit Guarantee of India catering to Credit Insurance.

The Indian Insurance Sector in India is divided into two categories:

1. Life Insurance and

2. Non-life Insurance.

The Non-life Insurance sector is also termed as General Insurance.

Both the Life Insurance and the Non-life Insurance is governed by the IRDAI (Insurance Regulatory and Development Authority of India).

Life Insurance Companies

Life insurance companies offer coverage to the life of the individuals, whereas the non-life insurance companies offer coverage with our day-to-day living like travel, health, our car and bikes, and home insurance.

Non-Life Insurance Companies

Not only this, but the non-life insurance companies provide coverage for our industrial equipment as well. Crop insurance for our farmers, gadget insurance for mobiles, pet insurance etc. are some more insurance products being made available by the general insurance companies in India.

Currently, there are 24 life insurance companies and 30 non-life insurance companies

The government also strives hard to provide insurance to individuals in a below poverty line by introducing schemes like the

1. Pradhan Mantri Suraksha Bima Yojana (PMSBY),

2. Rashtriya Swasthya Bima Yojana (RSBY) and

3. Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY).

4. PM-AASHA

5. PM Kisan

Notification Details

1. LIC AAO (Assistant Administrative Officer)

LIC AAO Specialist Officer is one of the best entry-level jobs in the LIC. The main reason for it is the lucrative pay-scale and job profile of a LIC Assistant Administrative Officer.

Mode of application-Online

Notification & Online Application- Feb 25 to15th March 2020

LIC AAO Prelims Exam Date-April 4, 2020

LIC AAO Mains Exam Date-To be announced

 

2. LIC Assistant Engineer (LIC AE)

Mode of application-Online

Posts-Assistant Engineer (Civil/ Electrical /Structural/MEP) &

Assistant Architect (A.A).

Notification &Online Application-25 January 2020 to 15 March2020

 

3. LIC Assistant 2020

Mode of application-Online

Notification & Online Application-17 Sep 2019to 1 Oct 2019

LIC Assistant Prelims Exam Date-21st & 22nd of October 2019

LIC Assistant Mains Exam Date-22nd December 2019

 

4. LIC ADO(Apprentice Development Officer)

Mode of application-Online  

LIC ADO Prelims Exam Date-6th & 13th July 2019

LIC ADO Mains Exam Date-11th August 2019

5. LIC HFL 2019

Mode of application-Online

Assistants, Associates & Assistant Managers

Notification & Online ApplIcation-8 August to26 August 2019

LIC HFL Prelims Exam Date-9th & 10th of October 2019

6. NIACL AO 2018

Vacancies 2019-Administrative Officer

Mode of application-Online

1. Generalist

2. Specialist – Company Secretary, Legal, Finance& Accounts

Notification & Online Application-10th Dec 2018 to 26th Dec 2018

NIACL AO Prelims Exam Date-30th Jan 2019

NIACL AO Mains Exam Date-2nd March 2019

7. NIACL Assistant 2018

Mode of application-Online

Notification & Online Application -16th July 2018 to 31st July 2018

NIACL Assistant Prelims Exam Date-September 2018

NIACL Assistant Mains Exam Date -October 2018

Salary and Job Profile

Salary

35,000/- to 50,000/-

Job Profile

The insurance sector is primarily an administrative job with various other responsibilities that varies according to the department that he works in. Asan aspirant of this, it becomes extremely important that you are aware of those. Here we are aimed at providing you a broad idea of the Job Profile, Duties and Responsibilities of an insurance Officer. Let us look at the various departments because the duties and responsibilities of an officer may varyas per the department. The departments are mentioned below:

- Actuarial

- Claims

- Finance/Accounts

- Information Technology

- Inspection

- Marketing / Sales

- New Business

- Policy Servicing

Syllabus and Exam Pattern

Reasoning

- Logical Reasoning

- Analytical Reasoning

- Coding-Decoding

- Blood Relations

- Direction Test

- Puzzles

- Syllogism

- Input-Output

- Inequality

- Seating Arrangement

- Alphabet and Number Series

- Statement, Arguments, and Conclusion

The topics mentioned above are mainly part of the Insurance Exams reasoning section. Candidates can refer to Logical Reasoning for detailed reasoning syllabus of bank exams.

Quantitative Aptitude

- Simplification and Approximation

- Data Interpretation

- Missing Number Series

- Wrong Number Series

- Quadratic Equations

- Ratio and Proportion

- Speed, Time and Distance

- Permutation and Combination

- Probability

- Surds and Indices

- Pipes and Cisterns

- Mixtures & Alligations

- Inequality

- Mensuration

- Time and Work

- Boats & Streams

- Age Problems

- Interest

- Profit & Loss

- Average

English Language

- Cloze Test

- Sentence Rearrangement

- Match the Columns

- Phrase Replacement

- Reading Comprehension

- Antonym and Synonym

- Fill in the blanks

- Sentence Correction

- Phrases and Idioms

- Essay (Mains Descriptive Exam)

- Letter Writing (Mains Descriptive Exam)

- Tenses Rules

- Preposition Rules

Insurance and Financial Market Awareness

- Indian Financial System

- History of LIC and IRDAI

- Indian Insurance and Banking Terms

- Banking Committees

- Banking Awareness

- Insurance and Banking Abbreviations

- Stock Market

- Budget

- Insurance Sector (Agencies, Headquarters, Jobs, etc.)

- Indian and International Financial Institutions

- History of Banking in India

- Money market and Capital Market

- Financial Market Risks

- International Monetary Fund

- Economic policies

- Recession

- Insurance Ombudsman

- Bancassurance

- Government Schemes

- Private and Public sector Insurance Companies

- Government Insurance Schemes

General Awareness and Current Affairs

- Indian History

- Indian Economics

- Important Dates

- Books and Authors

- Capital of states and countries

- Country, Capital & Currency

- Awards and Recognition

- Inventions and Discoveries

- Abbreviations

- Government Schemes and Policies

- About RBI and Insurance sector

- Financial Institutions

- Indian Politics

- National and International Organisations

- Sports

- Static GK (currency, national parks, sanctuaries, dams, etc.)

- Headquarters of Important Organisations

- Obituaries

- Information of all Current events across the world

- Science and Technology

Eligibility Criteria

Qualification

Graduation | B.Tech | Post Graduation

Age

Min 18 to Max 30

Selection Process

Phase 1 – Prelims Exam (Objective Test)

Phase 2 – Main Exam (Objective and Descriptive Test)

Phase 3 – Interview

Mains Syllabus

Reasoning

- Logical Reasoning

- Analytical Reasoning

- Coding-Decoding

- Blood Relations

- Direction Test

- Puzzles

- Syllogism

- Input-Output

- Inequality

- Seating Arrangement

- Alphabet and Number Series

- Statement, Arguments, and Conclusion

The topics mentioned above are mainly part of the Insurance Exams reasoning section. Candidates can refer to Logical Reasoning for detailed reasoning syllabus of bank exams.

Quantitative Aptitude

- Simplification and Approximation

- Data Interpretation

- Missing Number Series

- Wrong Number Series

- Quadratic Equations

- Ratio and Proportion

- Speed, Time and Distance

- Permutation and Combination

- Probability

- Surds and Indices

- Pipes and Cisterns

- Mixtures & Alligations

- Inequality

- Mensuration

- Time and Work

- Boats & Streams

- Age Problems

- Interest

- Profit & Loss

- Average

English Language

- Cloze Test

- Sentence Rearrangement

- Match the Columns

- Phrase Replacement

- Reading Comprehension

- Antonym and Synonym

- Fill in the blanks

- Sentence Correction

- Phrases and Idioms

- Essay (Mains Descriptive Exam)

- Letter Writing (Mains Descriptive Exam)

- Tenses Rules

- Preposition Rules

Insurance and Financial Market Awareness

- Indian Financial System

- History of LIC and IRDAI

- Indian Insurance and Banking Terms

- Banking Committees

- Banking Awareness

- Insurance and Banking Abbreviations

- Stock Market

- Budget

- Insurance Sector (Agencies, Headquarters, Jobs, etc.)

- Indian and International Financial Institutions

- History of Banking in India

- Money market and Capital Market

- Financial Market Risks

- International Monetary Fund

- Economic policies

- Recession

- Insurance Ombudsman

- Bancassurance

- Government Schemes

- Private and Public sector Insurance Companies

- Government Insurance Schemes

General Awareness and Current Affairs

- Indian History

- Indian Economics

- Important Dates

- Books and Authors

- Capital of states and countries

- Country, Capital & Currency

- Awards and Recognition

- Inventions and Discoveries

- Abbreviations

- Government Schemes and Policies

- About RBI and Insurance sector

- Financial Institutions

- Indian Politics

- National and International Organisations

- Sports

- Static GK (currency, national parks, sanctuaries, dams, etc.)

- Headquarters of Important Organisations

- Obituaries

- Information of all Current events across the world

- Science and Technology

How to Apply

Before applying online, candidates should be ready with/ for the following. Scan their photograph and signature ensuring that both the photograph and signature adhere to the required specifications.

Have a valid personal email ID and mobile no., which should be kept active till the completion of this

Recruitment Process. LIC may send call letters for the examination etc. through the registered e-mail ID. In case a candidate does not have a valid personal e-mail ID, he/she should create his/her new e-mail ID and mobile number before applying on-line and must maintain that email account and mobile number.

IMPORTANT POINTS TO BE NOTED BEFORE REGISTRATION

(i) Candidates should scan their :

- photograph (4.5cm × 3.5cm)

- signature (with black ink)

- left thumb impression (on white paper with black or blue ink)

- a hand written declaration (on a white paper with black ink) (text given below)

ensuring that all these scanned documents adhere to the required specifications.

(ii) Signature in CAPITAL LETTERS will NOT be accepted.

(iii) The left thumb impression should be properly scanned and not smudged. (If a candidate is not having left thumb, he/she may use his/ her right thumb for applying.)

(iv) The text for the hand written declaration is as follows –

“I, _______ (Name of the candidate), hereby declare that all the information submitted by me in the application form is correct, true and valid. I will present the supporting documents as and when required.”

(v) The above mentioned hand written declaration has to be in the candidate’s hand writing and in English only. If it is written and uploaded by anybody else or in any other language, the application will be considered as invalid. (In the case of Visually Impaired candidates who cannot write they have to get the text of declaration typed and put their left hand thumb impression below the typed declaration and upload the document as per specifications.)

(vi) Keep the necessary details/documents ready to make Online Payment of the requisite application fee/ intimation charges

Tips to Clear

Syllabus scan:  For the preparation of Insurance Exams, one must go through with the syllabus of Insurance so that students get an idea about important topics and can secure more marks in less time. To get an idea about paper pattern one can also go through the previous year paper that helps a lot in the preparation of the exam.

Time Table: One must follow a strict time table to be successful in the exam as we all know that continuity is a vital role in the preparation of exams. Go through the concepts of each topic, do not make a habit of cramming things.

Revise: Keep revising things regularly. Writing down important dates of current affairs and the notification and other vital concepts will help you to revise before the exam of the IBPS PO.

Mock Test: Take mock tests regularly which helps in increasing the speed so the student scan attempt more questions in less time.

Learn from India's best teachers

Get an in-depth understanding of concepts by watching short video classes created by experts. Watch these videos in English or Hinglish, and learn the way you want.

View Course

Students love us because we care

What a student says
Arushi Sharma
Excellent Guidance

Genuinely Gyanm is the best coaching institute. Fantastic guidance by highly qualified mentors played a significant role in my success in SBI PO exam. I would like to thank the entire faculty for their guidance.

What a student says
Deepak Taneja
Experienced Teachers

I have successfully cleared SSC exam thanks to Gyanm. It was my dream to compete in these exams but I was unsure of myself. Being in Gyanm's helped me build my confidence and clear my exam.

What a student says
Harshpriya
You can ask doubts anytime

I am very thankful to Gyanm institute Chandigarh as it gave me best support to prepare for clearing state and Bank exam. You can ask doubts. Teachers are available all the time. I suggest all the students who are preparing for any government exam to join Gyanm institute chandigarh..