Jadeja tries his hand at selling insurance

Cricketer and film actor Ajay Jadeja is hedging his risk in a different ball game -- insurance.

After a not too memorable experience with his first love, cricket, and then being bowled over by Bollywood, Jadeja is now undergoing training to become an insurance agent for Max New York Life.

Industry sources said Jadeja was close to completing the prescribed 100 hours of training, but would qualify as an agent only if he cleared the test scheduled for later this month.

While Max New York Life sources confirmed the development, Jadeja could not be contacted for comment since he was out of station.

The sources said Jadeja was in South Africa to attend the International Indian Film Academy awards function. His maiden film, Khel, was due for release shortly, they added.

Jadeja, if he clears the test, will be the first celebrity agent to be inducted by Max New York Life, which earned Rs 76.81 crore (Rs 768.1 million) from premiums during 2002-03.

Several other celebrities have tried their hand at selling insurance. Abhishek Bachchan and Raj Kapoor's son Rajiv have worked as agents for India's largest insurer, the Life Insurance Corporation of India.

Among the private players, which entered the Indian insurance market after it was liberalised in 2000, Max New York Life depends almost entirely on its agents.

New York Life, which holds a 26 per cent stake in the venture, follows the same sales strategy in the United States.

The private players are planning to involve the upper middle-class to sell large policies in urban centres, while LIC targets a cross-section.

However, LIC has been targeting individuals with a high net worth in the past 12 months and has drawn up plans to recruit stock brokers and former executives of banks as agents.