Benefits of becoming LIC agent

Benefits of Becoming LIC Agent

LIC (Life Insurance Corporation of India) is the oldest and largest life insurance company in India. The government of India plays an important role in supporting this agency. It has the largest network of consumers. One may find a good career and sell LIC insurance by becoming a LIC or PoSP agent. 

Quick Link: Become an Insurance Agent

LIC or PoSP Agent

A LIC or PoSP agent is an intermediary between the insurance company and the consumer. He brings both of them together by selling insurance products. It is one of the best career options for individuals who wish to earn a considerable income. An individual may find many benefits of becoming a LIC agent. 

Benefits of Becoming a PoSP Agent

It Is Easy to Become a PoSP Agent

An individual may easily become a PoSP agent. He needs to meet the following criteria to become a PoSP. 

  • An individual must be at least 18 years of the agent. 
  • He must be 10th passed.
  • He must have a valid Aadhaar Card and PAN Card.
  • He should also have a bank account in his name. 

The PoSP insurance agent sells the policies online. Therefore, he needs a laptop, a smartphone, and a good internet connection. This work is perfect for freshers, college students, and other people who have enough time to sell policies.

No Fixed Timings

There is no fixed timing in this work. An individual can have flexible timing. He does not need to sit in an office and manage his work. He can easily set the time of his working hours. He can do so according to his convenience. He may decide whether he wishes to work full-time or half-time. He may also take days off from his work if he wants to. Therefore, it is perfect work for homemakers, students, and retirees. They may make it a good source of income. 

Work From Home

PoSP insurance does not need to travel anywhere to sell the policies. He can use the online process and sell the plans. He may contact the customers via phone and tell them about the benefits of insurance policies. He may also sell the policies on the Internet. An individual may work from home and go anywhere if he wishes so to sell the policy.

Become One’s Own Boss

An individual may become his own boss by selling insurance policies. A PoSP works for himself. He may set his own schedule of work. He may also set his own target of selling insurance policies per week or month. A PoSP agent may decide how much time and effort he needs to sell a policy. Hence, by becoming his own boss, an individual may work as a PoSP agent at his own convenience. 

Income

A PoSP agent may earn a fixed level of income by selling the insurance policies. The IRDAI sets and decides the rate of LIC agent commission on each insurance policy. An individual may make a cash flow by creating a good consumer base. He may earn income on each renewal made by the consumers. After some years, he may earn a stable income. An additional effort may increase the income. 

No Investment

A PoSP insurance agent does not need to make any investment while working as an insurance seller. He only needs to give time and effort to his work. In addition, he needs a smartphone and laptop to do work from home. Since he does not invest any money, the potential for returns automatically increases. 

Learn From Experts

An individual may learn more by becoming a PoSP agent. He may train himself by selling the policies. This work offers many opportunities to learn how to sell insurance policies. It allows a PoSP to develop his skills. He may attend training programs to become an expert in this stream. The demand for insurance policies is increased by the general public. This has happened due to awareness about the policies. The insurance companies need many intermediaries to meet this demand. Therefore, people are welcome to become a PoSP and learn more about the insurance industry.

Way to Help People

Insurance policies are the need of people at the current time. People need insurance policies to avoid financial emergencies. A PoSP insurance agent may guide people. He may advise them to purchase the type of insurance policies. This includes health insurance, life insurance, motor insurance etc. He may also guide them about filling up the application form. The PoSP plays an important role during the claim process. He guides the buyer on how to file the claim to receive the compensation. This may help many people in the society. 

Regular Income at an Early Age

An 18-year-old individual may apply to become a PoSP agent. If he starts early, he can learn a lot about this subject. He may understand the insurance industry completely at an early age. By selling the policies, he may earn a regular income on renewals of policies. He may also build may client who shall buy the policies from him.

Conclusion

An individual may enjoy many benefits by becoming a PoSP agent. He may earn a good LIC agent commission on each policy he sells. He may also receive rewards on every renewal of policies. There is no fixed timing for a PoSP to work. He may work from home and become his own boss. He may also earn a stable income and learn from experts. He does not need to make any investment. He only needs a smartphone and a laptop with a stable internet connection. A PoSP agent may help society by educating them on the importance of insurance policies. Nowadays, people prefer to become the PoSP agent. They may sell different insurance policies for many companies. However, a normal insurance agent may work for only one company and sell only one kind of product. Therefore, one may find several benefits in becoming a PoSP agent.

FAQs

Q. Who can work as an insurance PoSP?

A. An 18-year-old individual who has passed the 10th standard may work as an insurance PoSP. 

Q. How to become a PoSP agent?

A. An individual may become a PoSP agent by joining the training session and clearing the exam. 

Q. What documents does an individual need to become a PoSP?

A. An individual needs the following documents. 

  • Class 10 pass certificate
  • PAN card
  • Aadhaar card
  • Photograph
  • Cancelled cheque
Q. What policies can a PoSP sell?

A. A PoSP may sell the following policies

  • Life insurance policies
  • Health insurance policies
  • Motor insurance policies
  • Travel insurance policies and many more

Related Articles

Benefits of becoming Life Insurance PoSP agent

Benefits of Becoming Health Insurance PoSP agent

How to get a PoSP insurance Code

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