Can I become an insurance agent if I just have a 10th grade education? 

 INSURANCE AGENT
INSURANCE AGENT

Can I become an insurance agent if I just have a 10th grade education? 

Yes, if you want to supplement your income, if you are looking for work, or if you are unable to find work due to a lack of qualifications, you should consider being an insurance agent. A career as a POS agent in the insurance industry is possible. This chance is open to everyone who has just passed their 10th grade. There is no need for you to do anything else. You just need to sign up with any insurance company or company that sells insurance. Take some basic training at a time that works for you. Then, start selling policies and make money in the form of commissions. Get the help of insurance companies and learn how to sell policies. There is no limit to who can become an insurance agent. It doesn’t matter if the person is a newcomer, a housewife, a student, a retired person, or a businessman. In order to make insurance more common and help the insurance business grow, there was a huge need for a lot of agents and distributors.

In 2015, the Insurance Regulatory and Development Authority of India (IRDAI) approved a new way to get insurance business: the point of sales. This is a new way for insurance agents to get business (POS). 

 Let us clarify – Point of Sale Channel!  

It was discovered that there are a significant number of people working in various insurance-related activities who are not qualified to offer insurance products but have developed valuable insurance expertise over time.

While the majority of people with a minimum level of education might receive training on insurance goods and the business of selling insurance policies. Taking the observations into consideration, a point of sales channel was established for the purpose of soliciting insurance business through the use of individuals with a minimum qualification of 10th pass. Products in Life insurance, Health/Travel insurance (Mediclaim/Critical illness/Hospital Cash), Motor insurance (Own damage & Third party), Personal accident insurance, Home Insurance, Crop Insurance, etc. are easy to sell if they are delivered pre underwritten up to certain Sum Insured.

Hence, pre underwritten products amongst the mentioned categories that were straightforward to understand, and in which the benefits are presented upfront, fixed, and predetermined were recognized for sell-through point of sales With the assistance of such solutions, the insurance policy is automatically prepared by the system based on the little information provided by the customer, requiring minimal interaction and experience.

Job opportunity as a Point of Sale: By selling insurance products through the POS channel, people with a minimum qualification, such as a tenth-grade diploma, can work and earn at their leisure as a full-time or part-time job.

These individuals can opt to work as full-time or part-time trained agents.By registering with any insurance business in India, one can find work and make money from anywhere in the country. Many insurance firms now have internet portals where a person can quickly register to become a POS. Mobile applications with training modules are also available to satisfy the training requirements and provide certifications. As a result, finding work becomes considerably easier. 

Minimum Requirements To Become A POS Agent

To become a PoS Insurance Agent, you must meet the following minimum qualifications.   

* An Indian citizen

* The minimum age is 18.

* 10th pass

Training– Anyone applying for a PoS License must complete a minimum of 15 hours of training.

PoS agents are employed by insurers, corporate agents, and brokers.PoS agents may advertise only the goods of the hired insurer. 

Pos Agent Benefits

* Rule your career- Work at your own pace and be your own boss. Be unconcerned with results and objectives.

* Earnings are in the form of commissions.

*Access to a variety of insurance company products. 

* Work-from-home or part-time jobs are available, and you can work from anywhere at any time.

To become a point of agent, you must have the following requirements  

* A “Point of Sales Person” is a person who is active in marketing the insurance products of insurance companies that have been approved by the regulator.

* The “Point of Sales Person” must have at least a 10th-grade education and be at least 18 years old.

* The point of sales person can be hired by an insurance company or an insurance intermediary (Corporate agents & Insurance Brokers).

* A POS agent is a person who works for an insurance company or an insurance broker and sells insurance policies anywhere, anytime, and through online platforms. They sell simple and basic insurance policies.

Certification and training programs

* Initially, it was required of the point of sale representative to complete online training provided by the National Institute of Electronics and Information Technology (NIELIT), to sit for the online examination, and to receive a passing certificate issued by NIELIT (examining body); however, the requirement of completing online training and passing the NIELIT examination has been removed. 

* General insurance companies, stand-alone health insurance companies, and insurance intermediaries that want to hire POS people are given the responsibility of conducting 15-hour in-house training for the candidates, administering an examination after the training program, issuing a passing certificate, and finally hiring the successful candidates as POS people by entering into a written agreement that specifies the terms and conditions.

A new training programme and process were implemented to expedite the onboarding of point-of-sale personnel.

NIELIT training and certification are no longer required.

mandatory document for enrolling- 

* Aadhar Card & PAN Card

* Certificate of Completion (10th or 12th mark sheet)

* Copy of a canceled check/passbook

* a passport-sized photograph

Syllabus for the Module

It contains an introduction to insurance that explains the concept and purpose, as well as information on the Indian insurance market, principles and practice of insurance, product knowledge (salient features of general and health insurance products identified for sale through POS channels), and a miscellaneous section that covers grievance redress mechanisms, policyholder interest regulations, AML/KYC norms, and other topics. 

Insurance POS Agents’ Future – Recently, the insurance regulator allowed all Micro Insurance products from Life, General, and Health insurance to be sold at the point of sale. With micro-insurance products, customers have more options and can pay less for them. This can help insurance penetration even more. Thus, POS agents have more chances to make money. Many people in India, especially those who live in cities, semi-urban areas, and rural areas, don’t know that insurance can help them. This makes the use of insurance very low in India. These are the places where the POS Agents haven’t yet reached.POS agents can reach more people across India and make a lot of money. 

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