To become an authorized Life Insurance Advisor with the Life Insurance Corporation of India (LIC), passing the IC-38 Examination conducted by IRDAI / NSEIT is a mandatory requirement. With proper guidance and mock practice, clearing this exam on your first attempt is straightforward.
1. IC-38 Exam Pattern & Marking Scheme
The IC-38 exam is an online computer-based test designed to test basic knowledge of life insurance products, ethics, and customer servicing.
- Total Questions: 50 Multiple Choice Questions (MCQs)
- Duration: 60 Minutes (1 Hour)
- Pass Mark: 17 out of 50 (34%)
- Negative Marking: NONE (Attempt all 50 questions!)
- Languages Available: Malayalam & English
2. Core Topics Covered in the Exam
The questions are divided into three primary modules:
- Basic Principles of Insurance: Utmost Good Faith (Uberrima Fides), Insurable Interest, Indemnity, and Risk Pooling.
- Life Insurance Products & Documentation: Endowment plans, Term insurance, Money-back policies, Annuities/Pensions, Proposal forms, Policy schedules, and Riders.
- Underwriting & Claims Servicing: Financial and medical underwriting, death claims, maturity claims, nomination, assignment, and Ombudsman mechanism.
3. 4 Proven Tips to Pass Easily
Tip 1: Never leave any question blank. Since there is no negative marking, answer every single question before the timer runs out.
Tip 2: Understand Principles over Rote Learning. Concepts like Insurable Interest (e.g., a husband has insurable interest in his wife's life) appear repeatedly.
Tip 3: Focus on Grievance Mechanisms. Questions regarding the Insurance Ombudsman (claim limits up to ₹30 Lakhs) are frequently tested.
Tip 4: Take Mock Tests under DO Guidance. Candidates registered under Development Officer Rejimon Joseph K receive free mock test papers and training sessions.
4. Frequently Asked Questions
Get Free IC-38 Study Material & Training Batch
Development Officer Rejimon Joseph K provides full study kits and 25-hour training support in Alappuzha.