IC-11 vs IC-02: General or Life for Your Licentiate
Same credit points, same pass rule, different careers. Choose the stream you work in.
III's Licentiate has two compulsory papers. IC-01 Principles of Insurance is the same for everyone. The second is your choice of stream: IC-02 Practice of Life Insurance or IC-11 Practice of General Insurance, each worth 20 credit points.
Pick the stream you work in, or want to work in. If you are at a non-life insurer, a general insurance broker, a TPA or a bancassurance desk selling motor and health, IC-11 is the paper that matches your job and the one that opens III's non-life diplomas.
You save ₹300
- Full 100-question mocks
- Chapter-wise practice
- Section-wise sets
One payment, no subscription
IC-11 and IC-02 Side by Side
From III's 2026 Examination Handbook, syllabus and price list.
Stream
IC-11 Practice of General Insurance
General (non-life) insurance
IC-02 Practice of Life Insurance
Life insurance
Credit points
IC-11 Practice of General Insurance
20
IC-02 Practice of Life Insurance
20
Format
IC-11 Practice of General Insurance
Online MCQ, 2 hours, 60% to pass
IC-02 Practice of Life Insurance
Online MCQ, 2 hours, 60% to pass
Syllabus edition
IC-11 Practice of General Insurance
Revised Edition 2023
IC-02 Practice of Life Insurance
Revised Edition 2023
Chapters
IC-11 Practice of General Insurance
9
IC-02 Practice of Life Insurance
11
Printed book (India)
IC-11 Practice of General Insurance
₹450 English, ₹500 Hindi
IC-02 Practice of Life Insurance
₹400 English, ₹700 Hindi
Paper fee
IC-11 Practice of General Insurance
₹600 + taxes
IC-02 Practice of Life Insurance
₹600 + taxes
Associateship compulsories that follow
IC-11 Practice of General Insurance
IC-45 General Insurance Underwriting, IC-46 General Insurance Accounts
IC-02 Practice of Life Insurance
IC-22 Life Insurance Underwriting, IC-26 Life Assurance Finance
| IC-11 Practice of General Insurance | IC-02 Practice of Life Insurance | |
|---|---|---|
| Stream | General (non-life) insurance | Life insurance |
| Credit points | 20 | 20 |
| Format | Online MCQ, 2 hours, 60% to pass | Online MCQ, 2 hours, 60% to pass |
| Syllabus edition | Revised Edition 2023 | Revised Edition 2023 |
| Chapters | 9 | 11 |
| Printed book (India) | ₹450 English, ₹500 Hindi | ₹400 English, ₹700 Hindi |
| Paper fee | ₹600 + taxes | ₹600 + taxes |
| Associateship compulsories that follow | IC-45 General Insurance Underwriting, IC-46 General Insurance Accounts | IC-22 Life Insurance Underwriting, IC-26 Life Assurance Finance |
What Each Paper Covers
Chapter titles from III's 2026 syllabus.
- IC-11 (9 chapters)
- Introduction to General Insurance; Policy Documents and Forms; three chapters of General Insurance Products (fire and marine; motor, liability, personal accident and specialty; engineering and other insurances); Underwriting; Ratings and Premiums; Claims; Insurance Reserves and Accounting.
- IC-02 (11 chapters)
- Organisational Structure of a Life Insurance Company; Premiums and Bonuses; Plans of Life Insurance; Annuities; Group Insurance; Unit-Linked Life Insurance Products; Applications and Acceptance; Policy Document; Payment of Premium, Surrender, Lapsed Policy and Revival; Assignment, Nomination, Loan and Foreclosure; Policy Claims.
What Each Paper Unlocks
III's specialised diplomas name the practice paper they require.
| Course | Needs Licentiate passed with |
|---|---|
| Specialized Diploma in Marine Insurance | IC-11 |
| Specialized Diploma in Fire Insurance | IC-11 |
| Specialized Diploma in Health Insurance | IC-11 |
| Certificate Course in Foundations of Casualty Actuarial Science | IC-11 |
| Specialized Diploma in Casualty Actuarial Science | IC-11 |
| Diploma in Life Insurance Underwriting | IC-02 |
See general insurance questions before you choose. No signup.
Health Insurance Sits on the IC-11 Side
Many people assume health belongs with life. In III's scheme it does not: the Specialized Diploma in Health Insurance requires a Licentiate passed with IC-11, Practice of General Insurance. If your work is health claims at a TPA or a standalone health insurer, IC-11 is your stream paper.
Things to Know Before You Choose
- check_circleYou need only one of the two for the Licentiate. Neither appears in III's table of optional subjects, so plan your third paper from that table (IC-14 Regulations of Insurance Business is the 20-credit one).
- check_circleYou can swap between IC-11 and IC-02 after enrolling, online and only during the enrolment period, because both carry 20 credit points.
- check_circleBoth study courses and both audiobooks are available in English and Hindi.
- check_circleIC-01 underpins both. Its principles are applied, not re-taught, in either practice paper.
FAQs
Should I choose IC-02 or IC-11 for the Licentiate?expand_more
Choose the stream you work in or plan to: IC-11 for general insurance (fire, marine, motor, health, liability), IC-02 for life insurance. Both carry 20 credit points and the same pass rule.
Is IC-11 compulsory for the III Licentiate?expand_more
Only as one side of a choice. The Licentiate needs IC-01 plus either IC-02 or IC-11, plus one optional paper, for 60 credit points.
Which paper do I need for III's health insurance diploma?expand_more
IC-11. III's handbook makes a Licentiate passed with Practice of General Insurance the entry condition for the Specialized Diploma in Health Insurance.
Can I change from IC-02 to IC-11 after enrolling?expand_more
Yes, online and only during the enrolment period, since both are 20-credit papers. After enrolment closes, no change is allowed.
Next steps
- Syllabusarrow_forward
- Fees & Validityarrow_forward
- III Licentiate examarrow_forward
- III IC-11 guidearrow_forward
No signup, before you pay any III fee.