A Life and Disability Insurance Analyst is a person who, for a fee or compensation of any kind, paid by or derived from any person or source other than an insurer, advises, purports to advise, or offers to advise any person insured under, named as beneficiary of, or having any interest in, a life or disability insurance contract, in any manner concerning that contract or his or her rights in respect thereto.
Corporation, partnership, nonprofit corporation or unincorporated association applicants must submit the Application for Business Entity License.

IRDA has made it mandatory for all agents to have compulsory classroom training before giving the exam to apply for a agents license. The agency has received applications from far and wide. The applicants have applied to provide training in Life and Non-life sector. They are expected to offer training for brokers and surveyors later.
IRDA has set up an inspecting committee to visit the applicants personally and check the facilities and other mandatory requirements. The committee will also look into the Faculty and other infrastructure requirements.

India's sole Life insurer till date, LIC has also applied for training institutes license. The insurer has zonal and divisional training centers, and it also has Sales Training Centers where nearly 30000 agents have been imparted training so far. Number of India's premier management schools are also looking to take part in this application.