How to Become an Insurance Agent from Home

How to Become an Insurance Agent from Home

About insurance agent

An insurance agent acts as an intermediary between the insurance company and the customer, helping in the sale of insurance. In addition to this, an agent has other functions like advising the customer in choosing the right policy, helping in filling the form, assisting the customer at the time of claim etc. Thus the agent plays a number of roles.

Why do people choose a career in the insurance sector?

A person prefers a career in insurance for its many benefits. As an agent, the individual –

Being your own boss, you can work on your own accord
Opportunity to earn unlimited income
Apart from earning attractive commissions on policies, one can earn rewards and recognitions as well.
Because of these benefits, people want to become insurance agents.

Who can become an Insurance Agent?

There are two key qualifications to become an insurance agent. If you meet these criteria, then you can apply for a career in insurance. The qualifications are as follows-

  • Your minimum age should be 18 years
    Educational Qualification: At least 10th pass for rural areas and 12th pass for urban areas.

Anyone who meets these basic criteria can enroll to become an agent. Hence, insurance agent job provides part-time job opportunities for freshers, fresh graduates, graduates from and college students. Even a retired person or housewife can do the job of becoming an insurance agent.

Steps to become an Insurance Agent

As per the guidelines of Insurance Regulatory and Development Authority, there is a process to become an agent. To become an agent, you need to register with an insurance company, undergo a special type of insurance training, pass an exam at a designated exam venue. Once you clear the exam by following this process, you can become an insurance agent. Let us understand this process in detail-

If you meet the eligibility criteria, you have to file a nomination to become an agent.
You have to provide your KYC details and documents to the insurance company of which you want to become an agent.
After successfully registering one has to undergo a training program for a specified period. The duration of the training depends on the type of insurance agent. This training is class room training which is of offline format.
After the training there is an exam. This exam is prescribed by the Insurance Regulatory and Development Authority (IRDA). You can give the exam either online or offline, although offline exams are more popular.
After passing the exam, you get the license to become an agent.

How much do insurance agents earn?

The agent earns a commission on the premium amount generated by him. The commission structure of different insurance companies is different. You can earn a commission ranging from 5 percent to 40 percent of the premium amount generated from the different insurance policies you sell. Apart from this, agents who perform well are also rewarded and awarded under special programmes. These programs also provide agents with the opportunity to participate in gifts, gift vouchers and international tours, along with higher commissions.

What does MintPro have to offer?

MintPro gives you the opportunity to become an Insurance Point-of-Sale-Person (POSP). A point-of-sale person (POSP) is a type of insurance agent. By becoming a Point-of-Sale-Person (POSP) with Mintpro, you can sell insurance policies of various reputed insurance companies. You can sell life insurance and general insurance, such as health insurance, car insurance, two-wheeler insurance, etc.

POSP Insurance Agent Certification Qualification & Process

There are two specific eligibility criteria to become an agent, as prescribed by IRDA. If you meet these criteria, then you can apply for a career in insurance. The criteria are as follows-
You must be 18 years old
In educational qualification, you must have passed at least class 10th.

Anyone who meets these educational qualifications can file a nomination to become an agent. Hence, the insurance industry can provide jobs to everyone – freshers, part-timers to fresh graduates, college students, even housewives and retired individuals. Let us understand the whole process step by step. Once you pass the exam by following this process, you can become an insurance distributor.

If you meet the eligibility criteria, file a nomination.
Submit your KYC details and documents.
go through a training program for a specified period
There will be an exam during the training. He will have to pass by appearing in that examination.
After passing the exam you can get a license and become an agent.

Why POSP certification is the best way to become an insurance agent?

An insurance agent facilitates the sale process of an insurance policy by bringing together the insurance company and the customer. On top of this, the insurance agent has additional functions like suggesting the right insurance policy to the customer, assisting in filling the form correctly, assisting the customer at the time of filing a claim, etc. Therefore, the agent performs multiple roles simultaneously.

POSP (Point of Sale Person) is a new type of license for Insurance Agents created by the Insurance Regulatory and Development Authority in 2015. This is a great way to start a career as an Insurance Agent. Why so? Insurance agents are usually obligated to sell a range of products from the same company, such as life or non-life insurance. But in today’s time, customers are in high demand – they consult an agent who knows all their options to choose the right product. A POSP (Point-of-Sale-Person) license or certification lets you do this. As a POSP (Point-of-Sale-Person) you will be able to sell a range of life and non-life insurance products from various insurance companies such as Termlife, ULIP, Endowment Life, Motor, Health, Personal Accident, Home and Travel . POSP (Point-of-Sale-Person) is a broader concept than traditional insurance licenses. Hence, most of the people are now opting for POSP (Point-of-Sale-Person) route for their agent career.

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