IC-33 Exam of the IRDA

wealthymattersInsurance products as an asset class have always attracted me.This is because I am always on the lookout for investments where the downside risk is nil or minimum and the upside gain is disproportionally higher i.e a sensible asymmetric risk return scenario.I wrote about such investments in this post:Link.

Now insurance products will never give you the returns you can get from businesses, but on the other hand,not all insurance products are such losers as many financial planners,mutual fund agents and stock brokers claim.As far as returns from retail investment products go,returns from good insurance products are at the upper end of the spectrum.

Insurance products have a mixture of financial calculations and legal implications,just like options writing, which makes them interesting.So you can use them creatively to build wealth without unduly increasing risk.And meanwhile you can enjoy free insurance covers.Nothing like free options to make a bargain minded person ecstatic!

A couple of days ago I decided to go ahead and invest time in systematically studying insurance products.Yesterday I took the qualifying exam for life insurance advisors mandated by IRDA,called IC-33 and passed with 86%.So anytime any body has a question about life insurance in general or questions about particular life insurance products or problems with some or other product purchased or doubts about retaining policies and need professional help,please feel free to use the comment feature below and talk to me.If the matter is really urgent I can be reached on my mobile phone +919920527208.Please use it sparingly.I will do my best to answer your questions and/or sort out your problems ASAP. And let me assure you that the advice is free.And rest assured,no worries about warding off persistent agents,desperate to make a sale.

In the course of preparation, I found a lot of other candidates struggling and wasting time with a lot of substandard preparation materials.There seems to be a whole cottage industry out there,selling guides and mock tests.My advice:the exam is easy,so relax.It takes just 4-5 days to prepare for-just restrict yourself to good quality study materials.And no matter who tells you its a tough exam, don’t believe them.Its their own fear speaking.Personally I recommend the Chartered Insurance Institute‘s ‘Building Professionalism’.You can get your free copy here:Link.The book is 296 pages of easy reading and explains concepts in a crystal clear manner.Download a copy and read it and nothing else.If you wish to solve a couple of papers for practice, attempt the one which goes with this book and the sample one on the website of the Insurance Institute of India.If you really want to do a few more mock tests go for the free ones on login2class.com. They are the best  that you will find among the bazaar guides.I repeat don’t waste time,effort and money on sub-standard materials and do yourself a disservice.

About Keerthika Singaravel

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