Sravan asked 5 years ago
Hi sir
In class 11 you said that ca can’t become insurance agent cannot become but that only you said that insurance broker you can become how is it possible
Ravi Staff answered 5 years ago
insurance agent is a person who is associated with insurance companies to sell life insurance policies like LIC Agent etc CA in practice cannot become such agents
Insurance Broker needs license from IRDA, it can be in LLP or Company Format with minimum capital requirement for 50 lakhs or more depending on type of brokership. They are not attached to any one company.
so agents are individual , brokers are llp or companies
agents need to pass exam, brokers need to get licence from IRDA
they work on different levels
CA in practice can do work of insurance brokerage only in corporate form and not llp form