BUSINESS, FINANCE AND MANAGEMENT

Insurance Underwriter

Assesses risk of applicants and decides whether to insure them and at what premium.

Any stream; Class 10 pass is enough to start the exams After a degree Private sector

Facts checked 29/10/2026

Is this for me?

People in this work enjoy

Working through detailed information and spotting what matters
Making calm, reasoned decisions about risk
Seeing how numbers, rules and people's situations connect

It may not suit you if you dislike

Exams keep going while you work, and passing takes months or years
Turning down customers or agents who push for a yes
Targets and turnaround times can make the work feel rushed

Class 11–12 subjects: No stream is required for the Insurance Institute of India (III) Licentiate. You need matriculation (Class 10) or an equivalent pass and to be 18 years old. Insurers usually hire graduates, so a degree in any subject is the common route in. Commerce, maths or statistics helps with risk calculations, but it is not a rule.
First degree: Any graduation, commonly expected by employers. Check each insurer's job advert for its own requirement.
Entrance exams: III Licentiate (60 credit points, online MCQ papers). Then the Associateship underwriting paper: IC-22 for life insurance or IC-45 for general insurance, plus IC-26 or IC-46.
Licence or registration: None needed to start working.

Open to every streamAny stream; Class 10 pass is enough to start the exams.Check your subjects against every career

What the work is like

Reading applicant details and medical or financial information, judging the risk, deciding whether to accept it and on what terms, and setting the premium. Underwriters also work with agents, brokers, doctors and claims teams, and follow the insurer's underwriting policy.

A day in the work
Most of the day goes into reading applications and the documents attached to them, such as medical reports, financial details or property surveys. You check each file against the insurer's rules, decide whether to accept, add conditions or decline, and set the premium. You may also call an agent or broker to ask for missing information. Late in the day you record your decisions and note any cases that need a senior's approval.

The path, step by step

Class 10–12Finish Class 10 (SSC or an equivalent pass). This is the minimum to enrol for the III Licentiate, and you must have completed 18 years of age when you enrol. Any stream works.
After Class 12 or during graduationComplete a degree in any subject. Most insurers ask for graduates, and maths and statistics help with risk work. Some students also work in an insurer's office while they study.
Step 3 · LicentiateRegister with III online and choose the life or general insurance stream. Pass the compulsory papers (IC-01 Principles of Insurance, plus IC-02 or IC-11) and one optional paper to reach 60 credit points, with 60% needed in each paper. (reported — check with the official body)
Step 4 · AssociateshipPass an underwriting paper (IC-22 for life or IC-45 for general) and IC-26 or IC-46, each worth 30 credit points, to reach the Associateship level.
Step 5 · On the jobJoin an insurer's underwriting team. You learn the company's rules and risk limits under senior underwriters, and you usually keep studying for the III papers while you work.
OptionalFellowship of III. It needs 490 credit points in total, counting the Licentiate and Associateship levels, and an actuarial-type paper.

Time and money

Stage	Time	Government college or body	Private college	Help available
Class 11–12	2 years	Your school's fees	Your school's fees	—
Degree in any subject (after Class 12)	3 years	Govt College Chamba (HP), B.Com 1st year, 2026–27: ₹1,779 first instalment and ₹860 second instalment for boys (general); ₹1,479 and ₹560 for girls (general)	Check the college's fee page	Govt College Chamba: SC/ST and government OBC scholarships, and poverty-cum-brilliance scholarship for HP residents; no amounts given
III Licentiate exam (online MCQ papers, 60 credit points)	6–12 months	III Licentiate (fresh candidates, India): ₹700 one-time registration and ₹500 per subject, excluding taxes (III table of fees, undated)	—	No stipend or scholarship found for III exams; self-funded
Associateship underwriting papers (IC-22 or IC-45, plus IC-26 or IC-46)	Check the notice	Associateship: ₹1,100 one-time registration in lieu of diploma fee (III handbook, undated); per-subject fee not confirmed	—	No stipend or scholarship found; self-funded
On the job: insurer underwriting team (paid job, keep studying for III papers)	Check the insurer's notice	Pay not given on page; check each insurer's notice	Pay not given on page; check each insurer's advert	Paid job; no training fee mentioned

Total timeAbout 5–6 years after Class 12, including a 3-year degree and the III exams

Total costDepends mostly on the college you choose — compare fee pages.

Good to knowIII fee figures differ between sources, so check III's fee page before paying; study material costs extra and no exam scholarship was found.

Fees from: III table of fees · III Licentiate eligibility and fees FAQ · III revision of fees handbook · III Examination Handbook (credit point system, IC-22/IC-45) · Government College Chamba Prospectus 2026-27. Fees change every year — check the college's own fee page before you pay.

What people earn

Earnings vary widely by insurer, city, product line and experience, and entry-level and senior underwriters are paid very differently.

Myth and fact

Myth: ~~An underwriter just says yes or no to customers.~~

Fact: Underwriters decide the terms, conditions and premium as well as whether to accept. Many cases are accepted with extra conditions or a higher premium instead of being refused.

Try it now

Class 7–9Practise percentages, averages and simple probability. Underwriters use these ideas every day, so get comfortable with them now.Open link ↗
Class 10–12Read IRDAI's consumer material and look at one real insurance policy document. List the terms you do not understand and find out what they mean.Open link ↗
College or afterRead the III syllabus pages for the Licentiate papers before you enrol. Check which stream (life or general) matches your interests.Open link ↗

Good to know

The III Licentiate is open to anyone with Class 10 and age 18. It does not need a particular degree, but insurers' job adverts often ask for one.
IC-38 is the IRDAI exam for sales agents and advisers. It is a different test from the III papers used by underwriters.
Public sector insurers recruit Administrative Officers, and the Licentiate is needed to confirm probationary AOs at some of them. Check each insurer's notice for pay and rules.
Fee figures differ between sources. The III table of fees and newer guides quote different amounts. Check the III website before you pay.

Sources: III Licentiate eligibility and fees FAQ (insuranceinstituteofindia.com) · III credit point system of examination · III examination handbook (compulsory papers for Associateship) · III table of fees (fresh candidates; undated, reported as older figures) · III professional examination syllabus contents (2024) · IRDAI circular on training and examination for intermediaries (2016) · Prepclever: III Licentiate exam explained (non-official; paper and fee details reported)