The insurance sector in India presents various attractive career prospects for people willing to work hard and make a good living. This could be through a new avenue, like becoming a Point of Sales Person (POSP) agent. POSP provides a person an opportunity to start a business of his own selling insurance products, helping their community and earning a good side income as well. And the best part is that as a POSP insurance agent, you are your own boss and have complete flexibility to decide when to work and how to work. In this article, we will give you a brief introduction to what is POSP opportunity.

What Does a POSP Agent Do?

POSP agents are insurance sales representative who are licensed to sell certain insurance products. POSP agents can initiate their careers with much lower prerequisites in terms of educational and training qualifications as compared to traditional insurance agents. The Insurance Regulatory and Development Authority of India (IRDAI) has mandated that one has to undergo a 15-hour training program to become a POSP agent, which makes it available to a larger audience.

How are POSP Agents Different from Traditional Insurance Agents?

Both POSP agents and traditional insurance agents are out there to help their clients with acquiring insurance solutions. Still, a few differences lay between the two:

1. Training:- Regular insurance agents need to go through 25 hours of training, but POSP agents can start working after completing 15 hours of training.

2. Simple Products: Traditional agents can sell diverse nsurance products, including complex and customizable policies. By contrast, POSP agents can only sell simple, pre-underwritten insurance products. 

3. Pos Agent exam: The exam for traditional agents is conducted by the IRDAI, whereas POSP agents are assessed by individual insurance companies. 

What type of products can a POSP agent sell?

POSP agents are allowed to sell simple insurance products, such as:

1. General Life Insurance: Offers basic term life insurance policies that provide financial security to the beneficiaries when the policyholder passes.
2. Health Insurance products: covering medical expenses, hospitalization cost, critical illness coverage.
3. Motor Insurance: Insurance covering vehicles, including third-party liability and full coverage.

4. Travel Insurance: Policies that cover trip cancellations, medical emergencies abroad and other travel-related mishaps.

It’s worth mentioning that while POSP agents can sell these products, they are generally confined to simple plans with limited options for customization. If the customer wants products to cover their specific issues, they will need to get in touch with the regulator. 

Five Benefits of Being a POSP Agent

1. Earning potential: One of the best things about becoming a POSP agent is you can have additional side income. Because earnings are mostly commission-based, the more policies sold, the higher the income. This model provides unlimited earning potential, directly aligned to the how much can an agent sell. 

2. Ownership of Business: POSP agents enjoy the freedom of managing their own time, enabling them to maintain a healthy work-life balance. The insurance sector is an essential part of financial planning and continues to thrive in the economy. Hence, over time, this can become a good career for a lot of people. 

3. Limited Investment: Becoming a POSP agent involves minimal financial outlay. No prior experience is necessary, meaning this career is accessible to anyone with a smartphone or computer, some internet access and who has done the compulsory training. 

4. Continuous Learning and Support: Insurance companies provide ongoing training and support to POSP agents, ensuring they are up-to-date on new products and industry regulations for professional growth.

5. Build a safe community: You will help your clients financially and medically secure by helping them with the right insurance solutions.

 Conclusion

Secure is designed to provide you and your family with comprehensive, accessible, and affordable healthcare solutions. Whether you’re an individual, a family, or a senior citizen, there’s a plan designed to provide financial security and peace of mind.

Some key reasons why you should choose CarePal Secure are:

• Extensive Coverage: Get access to a wide network of hospitals for cashless treatments, covering everything from regular health check-ups to major hospitalisations.

• No Waiting Period for Essential Coverage: CarePal Secure offers immediate access to essential healthcare benefits so that yCarePal ou can receive critical medical treatment without long approval delays.

• 24/7 Medical Assistance & Claims Support: Our dedicated helpdesk is available round-the-clock to assist you with medical emergencies, claim processing, and consultation bookings.

• Teleconsultations & Healthcare Discounts: Our seamless teleconsultation services allow you to access specialists across 18+ medical fields. Additionally, you can enjoy significant savings on medicines, diagnostic tests, and outpatient care, making quality healthcare more affordable.

• Affordable Plans with Super Top-Up Options: Choose from a range of budget-friendly plans for individuals, families, and seniors. Our super top-up policy for seniors provides additional financial protection, covering larger medical expenses at a lower cost.

• Tax Benefits Under Section 80D: The premiums paid toward CarePal Secure health insurance are tax-deductible, helping you save money while ensuring comprehensive coverage for yourself and your family.

With trusted partners nationwide, CarePal Secure ensures that quality healthcare is always within reach. So what are you waiting for? Join 80,000+ satisfied customers who trust CarePal Secure for their healthcare needs.

Get in touch with us to know the right plan for you.