How to Become Insurance Agent in Bhopal

A POSP, or point of sales person, is an authorised person of an insurance company who can sell different pre-written insurance plans to customers. These professionals have passed the exam for insurance agents and acquired a licence. POSPs can work with a single insurance company at a time.

There are various types of insurance plans, such as health, travel, etc. POSP Insurance agents in Bhopal can pick a niche based on their interests. Along with selling insurance plans, the key responsibility of a POSP insurance agent is to educate customers about the importance of purchasing insurance plans.

An individual insurance agent plays an important role in the insurance industry. These professionals are authorised to offer pre-written and customised insurance plans to customers based on their unique needs.

Becoming an individual insurance agent is a journey that starts with a crucial step, the mandatory 25-hour training. This comprehensive training is designed to equip applicants with the necessary knowledge and skills. The applicant also needs to pass the IRDA exam for insurance agents conducted at authorised IRDAI centres, ensuring the highest standards of evaluation.

Individual insurance agents can work with one general insurance company, one standalone health insurance (SAHI) company, and one life insurance company simultaneously.

Apart from a fulfilling and rewarding career, being an insurance agent in Bhopal offers various other advantages, such as:

High Income

One of the most compelling reasons to consider a career as an insurance agent in Bhopal is the potential for substantial earnings. The income of an insurance agent is directly proportional to the number of policies they issue, offering a promising financial future.

Zero Investment

Another advantage of becoming an insurance agent in Bhopal is the ability to earn with zero investment. Like other business ventures, individuals do not need to make any financial investment. You only need to invest time and effort to sell insurance plans to customers.

No Time Constraint

For those juggling multiple responsibilities, such as family or other jobs, the flexibility of a career as an insurance agent can be a game-changer.

The ability to work on one's own schedule, at one's own pace, provides a sense of empowerment and control over one's work-life balance.
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Be Your Boss

Another benefit of becoming an insurance agent in Bhopal is that it gives you the freedom to be your boss. In this career, you can work on your comfort and timing. Furthermore, you can also plan a strategy that suits your needs better.

Individuals who want to become a ̌general insurance agent in Bhopal need to meet the eligibility criteria. Only after meeting the eligibility can you apply for the insurance agent registration.

General Eligibility Requirements

• Minimum Age: Meeting the age criteria to become an insurance agent in Bhopal is a must. Applicants must be at least 18 years old to apply for an insurance agent job.

• Educational Qualification for Insurance Agent: Another criteria for becoming an insurance agent in Bhopal is educational qualification. Applicants need to have a 10th-passed mark sheet to apply for a job.

• Insurance Agent Training: After registering as an insurance agent, applicants must also complete the mandatory training from an IRDAI-approved institution.

  The training duration for an POSP insurance agent is generally 15 hours and 25 hours for individual insurance agents.

• IRDAI Exam for Insurance Agent: After completing the insurance agent training, applicants must also take the ̧insurance agent test. Only after passing the test can applicants acquire an insurance agent licence.

  To become an individual insurance agent, you need to get at least 15% marks to pass the IRDAI exam, however, POSPs have to sit for the online exam conducted by the insurer and there is no such specified limit for the qualifying marks for them.

• Professional Experience: Applicants who want to be successful in the insurance field need to have some experience; however, this is not a mandatory requirement.

At the time of insurance agent registration, applicants also need to submit the following list of documents.

• Recent coloured passport-size photographs

• 10th class mark sheet

• Copy of PAN card

• Address proof such as Aadhaar card, passport, utility bills, etc.

• A cancelled cheque

To become an insurance agent with TATA AIG, applicants need to follow the procedure below:

• Step 1: Online Registration Process

  To become an insurance agent with TATA AIG, visit the official website agent registration page. Fill out the agent registration form details such as name, email address, etc and then click on the “Proceed” button.

• Step 2: Complete the Training Program

  After completing the agent registration process, you need to take the mandatory insurance training from an IRDAI-approved institution. This training educates you about insurance regulations, policy types, processes and more.

• Step 3: Obtain the Insurance Agent Licence

  After finishing the mandatory training, you need to take an exam for an insurance agent. Only after passing the insurance agent test you can acquire the licence from the IRDAI.

• Step 4: Start Selling Insurance Products

  Once you have acquired the insurance agent licence, you are authorised to sell the insurance plans to customers. Depending on your interest, you can pick the insurance niche such as health, motor insurance, etc. It is also advised to learn about the industry trends and methodologies to grow in the insurance sector.

Anyone can try to become an insurance agent in Bhopal. However, certain individuals are best suited for the job.

Financial Advisors

Individuals who are already working in the financial field can certainly try becoming insurance agents in Bhopal. These are experienced professionals who have ideas about the insurance industry and can sell policies more effectively to customers. Furthermore, it is also a good opportunity to diversify work experience.

Homemakers

Those who are full-time homemakers or housewives and want to earn money can also give an insurance agent in Bhopal a try. It not only gives them the freedom to work at their own pace and time but also allows them to contribute to family financial matters.

Retired Professional

Elderly or retired professionals who have time to spare can become insurance agents. This will not only keep them busy and occupied but also allow them to earn money even on their retirement days.

College Student

College students generally look for ways to earn money to support their college life expenses. A job as an insurance agent is a great way to not only earn money but also connect with different kinds of people and improve one's people skills.

If you want to become an insurance agent, then TATA AIG is a suitable choice. Below are some of the benefits of working with TATA AIG as an insurance agent.

• With over 20 years of experience in the insurance sector, we are a well-known and established brand. So you are securing your customers' future with us.

• With TATA AIG, all our insurance agents will get a progressive and growth-oriented environment.

• We focus on learning and upskilling. Hence, we have a dedicated TATA AIG academy platform for our insurance agent.

• We believe in long-term association with our insurance agent.

• We have a reward and recognition program to award the insurance agent who is hardworking.

The commission earned by insurance agents is commission-based. Insurance providers set a commission for different insurance policies. The more the insurance agent sells policies, the more commission they will earn. Furthermore, the insurance agent also earns a commission whenever the existing policyholder renews the insurance plans.

Being an insurance agent in Bhopal is a promising career with an opportunity to earn a high income and also make a difference in society.

Many individuals today invest in insurance plans, and to make wise decisions, they look for an authorised person who has information about the plan. The insurance agent in Bhopal advises the customers to purchase the insurance plan that best fits their budget.

At TATA AIG, we offer our insurance agents a promising career and an opportunity to excel in the insurance market. Additionally, we believe in a long-term association with our insurance agent. To become an insurance agent, visit the TATA AIG agent registration page and complete the process.