An individual agent is one who has undergone requisite training, passed an examination and been duly licensed by IRDA to sell insurance polices to the public and provide after-sales service including assisting at the time of a claim. His licence may be for life insurance, general insurance or both. In addition to represending one life insurance company and one non-life insurance company an agent can also represent one standalone health insurance company as well as Agriculture Insurance Company of India for selling crop insurance and Export Credit Guarantee Corporation of India for credit insurance.
When you are buying a policy please verify the credentials of the agent by asking for his licence and identity card.
Many IRDA licensed insurance agents also represent other financial sector entities like mutual funds or the National Small Savings Organisation and help you to buy their products and schemes.