IRDA Insurance Agent Licence Cancellation - Do I need to surrender or cancel the license even after its expiry?

Hi All,

I am Padmavathi, preparing for the State Government Public Service Examination. During my college days, I appeared for the IRDA Insurance Agent Examination and passed. My license was valid from March 21, 2013, to March 20, 2016. However, I didn't actively work as an insurance agent after the validity period, and the license expired.

Recently, I checked my PAN status in the IRDA PAN lookup portal, where it was mentioned that my status was "Terminated for other disqualification condition (Regulation 7)" under the 'Status of Agency' column.

Now, my concern is whether this will affect my chances of getting a State Government job. If so, how can I resolve this issue? Should I reach out to the insurance company that trained me for the exam and recruited me? I am unsure if this is a problem or not. Do I need to surrender or cancel the license even though it has expired?

I would appreciate your guidance on what my next steps should be. Thank you in advance.

Dear Padmavathi K,

It appears that the word "termination" has muddied the waters. Though your license expired eight years ago, it is still haunting you. Your post is an example of tilting at windmills!

The insurance advisers (not "agents" as you have referred to) do not have paid jobs. They work as freelancers. Therefore, there is no employer-employee relationship between the two. Even if it were to be there, the cause of termination was poor performance and not a criminal act. Therefore, more than "termination," it was a discontinuation of the relationship by the insurance company. Your separation from the company did not have any negative connotation. So stop worrying unnecessarily and start preparing for the competitive examination.

Secondly, you have allowed the license to lapse. That was your choice. When selecting the candidate, why would any government agency check the cause of the non-continuation of the license? Your last question was whether you need to surrender your expired license. Since the life period of the license has expired, what is there to surrender?

Personal feedback: The competitive examinations are conducted to select staff for government services. It includes tests on numerical aptitude, logical reasoning, English grammar, etc. But unwittingly, your post brought to the fore your weakness in logical thinking and English. To be successful in the examination, you need to overcome these weaknesses!

All the best!

Dinesh Divekar