How much a health insurance agent earns per policy?

Health insurance is a necessity, more than a luxury. As more people recognize its importance, the demand for reliable insurance advice has grown significantly. That’s where health insurance agents step in. But have you ever wondered how much these agents earn for each policy they sell?

If you're considering becoming a health insurance agent or just curious about how it works, this blog will give you a clear breakdown.

Who Is a Health Insurance Agent?

A health insurance agent is an insurance professional who helps individuals and businesses choose the right health insurance plan based on their needs and budget. They can work independently, with an agency, or partner with digital platforms like PoSP (Point of Sales Person) models to offer multiple insurer options.

Health insurance advisors primarily earn through commissions offered by insurance companies. These commissions vary depending on factors such as:

• Type of policy (individual, family floater, group health insurance, etc.)
• Policy Premium Amount
• Type of insurer (private or public sector)
• Renewal vs. New Policy
• The platform or aggregator associated with

Also Read: How to Port an Existing Health Insurance?

Age and Educational Qualification Criteria

• The minimum age required to become an insurance agent is 18 years old
• Minimum educational qualification: 10th pass

How much can a health insurance agent earn per policy?

• Normal Commission -The highest earning for an agent, usually between 15% to 25% of the premium, depending on the type of health insurance plan and the insurer.
• Renewal Commission- If the customer renews their policy the next year (which most do), the agent continues to earn, generally 5% to 7% of the premium every year. It’s like earning even when you're not actively selling.

Also Read: PBPartners Agent Commission Chart

Let’s understand with an example 

Note: Commissions are subject to IRDAI regulations and may vary across insurers.

Why join PBPartners as a Health Insurance Agent?

• Biggest Product Line( 51+ insurers)
• Dedicated Sales Support
• Free Training from Industry Experts
• Attractive Payouts
• User-Friendly Interface

Steps to Join PBPartners as a Health Insurance Agent

• Visit the PBPartners Website or Download the PBPartners App
• Sign Up with Your Mobile Number
• Complete Your Profile
• Upload and Verify KYC Documents
• Post verification of documents, complete online training
• Start Selling Health Insurance

Conclusion

A career as a health insurance PoSP is not only financially rewarding but also emotionally fulfilling, as you're helping people secure their health and future. With millions of individuals seeking healthcare services, the demand for health insurance is continually increasing. As a health insurance broker, you will be entering a market with a vast and consistent customer base. Whether it's individuals, families, or businesses, every person is a potential client in need of health coverage, creating virtually limitless opportunities for you.

FAQs on health insurance agent earnings

Do Health insurance agents earn on renewals, too?

Yes, agents earn a renewal commission, usually between 5% to 15% of the premium.

Is there a fixed income for agents?

No, earnings are commission-based and depend on the number and value of policies sold.

Are commissions the same across all insurers?

No, commission structures vary by insurer and product type, within IRDAI limits.

Is there a limit to how much an agent can earn?

No, there is no upper limit—the more you sell, the more you earn!