Eligibility Criteria for Becoming POS Insurance Agent

In recent years, the demand for insurance has increased significantly. More people are becoming aware of the importance of protecting their health, life, and assets. With this growing awareness, the need for insurance agents is also rising. One such role is that of a POS Insurance Agent. If you are someone looking for a simple way to enter the insurance industry and become an insurance agent, then becoming a POS (Point of Sale) Insurance Agent can be a great start.

This blog will help you understand who a POS insurance agent is, what the eligibility criteria are, and what steps you need to follow to become one. We will also cover the benefits of this profession and the documents required.

Who is a POS Insurance Agent?

A POS Insurance Agent is a person who is authorized by an insurance company to sell basic insurance products directly to customers. The Insurance Regulatory and Development Authority of India (IRDAI) introduced the POS model to make insurance more accessible to people in all parts of the country.

Unlike regular insurance agents, POS agents can only sell simple and standard insurance products that do not require much technical knowledge. This includes basic life insurance, health insurance, and motor insurance policies. Because the products are easy to understand and explain, anyone with the right training can become a POS agent, even without a background in insurance.

Eligibility Criteria to Become a POS Insurance Agent

To become a POS insurance agent, you need to meet certain basic eligibility requirements. IRDAI has laid down these criteria to ensure that agents are capable of guiding customers correctly.

Here are the key eligibility conditions:

1. Age Requirement

• The applicant must be at least 18 years old.

• There is no upper age limit, but the person should be physically and mentally fit to perform the role.

2. Educational Qualification

• The minimum educational qualification is that the person should have passed Class 10 (matriculation) from a recognized board.

• In some cases, rural or remote area applicants may be given some relaxation depending on the insurance company and their internal guidelines.

3. Training and Certification

• The applicant must complete a 15-hour training program prescribed by the IRDAI.

• The training can be taken online or offline through a registered training partner or insurance company.

• After training, the candidate must pass an examination conducted by the insurer or training provider.

• Once passed, a POS certification is issued, allowing the person to start selling approved products.

Documents Required

To apply as a POS agent, you must submit a few basic documents for identity and background verification. These include:

• PAN Card (Permanent Account Number)

• Aadhaar Card (for identity and address proof)

• Class 10 Marksheet or Certificate

• Passport-size photograph

• Cancelled cheque or bank passbook copy (for commission payments)

• Police verification report or declaration of no criminal background

Some companies may also ask for additional documents depending on their internal policy.

Roles and Responsibilities of a POS Insurance Agent

Once certified, a POS insurance agent can perform the following duties:

• Explain basic insurance products to customers

• Help customers understand policy features, benefits, and exclusions

• Collect necessary documents and complete KYC formalities

• Assist in filling out the proposal form

• Submit proposals to the insurer for issuance

• Provide post-sale support, such as helping with renewals and claims

POS agents are not allowed to sell complex or customized insurance products. They also cannot offer investment-linked insurance policies or high-risk products.

Benefits of Becoming a POS Insurance Agent

There are many benefits to becoming a POS insurance agent, especially if you are looking for flexible work and extra income. Some of the key advantages are:

1. Low Entry Barrier

• The eligibility criteria are simple, and the training is short.

• Anyone with basic education and communication skills can become an agent.

2. No Need for Office Space

• POS agents can work from home or on the go using their smartphone or laptop.

• Many insurers offer mobile apps and portals to manage sales and track commissions.

3. Flexible Working Hours

• You can work part-time or full-time, depending on your schedule.

• This makes it ideal for students, homemakers, or retired individuals.

4. Unlimited Earning Potential

• POS agents earn commissions on every policy they sell.

• The more you sell, the more you earn. There is no fixed salary, but your income depends on your efforts.

5. Opportunity to Help Others

• Insurance provides financial protection to families in times of need.

• As a POS agent, you can play an important role in spreading awareness and helping people make informed decisions.

Products a POS Insurance Agent Can Sell

According to IRDAI guidelines, a POS agent is allowed to sell only standardized insurance products. These include:

• Term life insurance plans

• Basic health insurance policies (such as standard indemnity plans, hospital cash plans)

• Motor insurance policies (two-wheeler, car insurance)

• Personal accident covers

• Travel insurance policies (simple short-term policies)

The products must be approved by IRDAI and should have simple terms, conditions, and limited exclusions.

How to Register as a POS Insurance Agent

Here is a step-by-step process to register as a POS insurance agent:

Step 1: Choose an Insurance Company

• Decide whether you want to work with a life insurer, health insurer, or general insurance company.

• You can also become a POS agent with insurance aggregators or brokers.

Step 2: Submit Application

• Fill out the application form provided by the insurance company.

• Submit the required documents as mentioned earlier.

Step 3: Undergo Training

• Complete the 15-hour training program from the insurer or their authorized partner.

• Attend sessions on insurance basics, customer service, documentation, and compliance.

Step 4: Pass the Certification Exam

• Take the online/offline test after the training.

• Once you pass, the company will issue a POS agent certificate and ID.

Step 5: Start Selling Insurance

• You can now start selling eligible insurance products.

• Use digital tools provided by the insurer to issue policies and track earnings.

Conclusion

Becoming a POS insurance agent is a simple and effective way to enter the insurance industry. The eligibility criteria are basic, and no prior experience is needed. With a short training period and minimum investment, you can start your career in insurance and earn attractive commissions.

This role is especially suitable for those looking for flexible work, such as students, homemakers, and retired professionals. By becoming a POS agent, you also contribute to society by helping people secure their future with the right insurance cover.

If you meet the eligibility criteria and are interested in starting a career in insurance, then this could be the right opportunity for you. Begin your journey as a POS insurance agent today and take the first step towards a rewarding career.